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Tiger5150
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@pawsandclaws1 said in [Four new suburban stadiums or grand final will go](/post/1156311) said:@Tiger5150 said in [Four new suburban stadiums or grand final will go](/post/1156216) said:@pawsandclaws1 said in [Four new suburban stadiums or grand final will go](/post/1155993) said:@gallagher said in [Four new suburban stadiums or grand final will go](/post/1155979) said:@balmain-boy said in [Four new suburban stadiums or grand final will go](/post/1155973) said:Surely everyone realises there's zero chance of any more money being spent on stadiums in the current climate? Nrl has zero bargaining power. The government has other priorities for the foreseeable future, and rightfully so!
Wasnt there talk from the govt about a $3bill infrastructure program? Any type of construction would mean jobs.
Keynesian economics - create demand in the economy through expansionary fiscal policy eg giving the NSW nurses, doctors, paramedics a pay rise will see that money spent into the economy creating demand and new jobs in say the retail and other sectors.
The problem for the next period in the economy is unemployment as people lose their jobs and businesses due to the lockdowns. The economy needs jobs, not hand outs. Those doctors nurses etc already have jobs. Every cent needs to go into new jobs.
Wage increases will result in more money into the economy which creates demand and jobs especially in retail. The 2.5% increases for nurses, paramedics and doctors are offset by productivity increases or efficiency dividends so they are not handouts. The NSW Govt should have stopped the increases for fat cat public servants. Did you know the NSW Police Commissioner receives nearly twice the salary of the NY Police Commissioner? I find that obscene.
I dont disagree with any of that, and there is no question that nurses and paramedics are worth more than they get. But it would not achieve the IMMEDIATE requirement which is jobs NOW.
Paying nurses etc as you say would put more $$ into the economy and ultimately result in more jobs, but it has two big problems. Firstly it is inefficient in that for every dollar paid, you dont get a return. THere is no control over what happens to a wage increase. The nurse receiving it could put it in Super, pay off debt, increase mortgage or save the money, none of that money reaches the wider economy and does not result in jobs. Secondly, there is a significant time lag. Even if the nurse spends the increase it take time to convert into demand for jobs.
Alternatively, if the Govt spends it on infrastructure spending, it is immediate and completely efficient in that the increase in jobs starts immediately and every dollar spent is used in a new job.
Im not saying increasing nurses wages is a bad idea, it just wont achieve what we need right now and I assume with things so tight we need maximum bang for buck.