Wed | May 24, 2017

More money not the answer

Published:Wednesday | June 3, 2015 | 6:00 AM


Economics 101: Money has no intrinsic value. The value of money is in its command over goods and services. Getting more money is not the solution.

The minimum wage is somewhere in the vicinity of J$5,000 a week. There was a time when it was J$35 a week and it could buy more then than what the current minimum wage can buy today.

Let us stop being delusional in clamouring for more money and recognise that there can be no real income without production.