The Big Quit

The Big Quit, better known as the Great Resignation, is the current movement of workers quitting their jobs during the COVID-19 pandemic. While many see members of the movement as just a bunch of entitled lazy youngsters unwilling to work, the issue is far greater than such idealistic beliefs. It presents a generation of workers tired of not being paid the fruits of their labor. Most of all, it begs the question – what can we do to bring people back into the workforce with improved conditions? 

The answer to this question is simple: a raise in minimum wage. Though as basic as it may sound, it is far more elaborate in how much it can solve. Throughout the past few decades, we have seen the value of our GDP (Gross Domestic Product – the total of all value in an economy) rise, and the cost of items raise, but with the value of what we are paid remain stagnant. The value of what was once $7.25 is now worth roughly 27 dollars. Yes, 27 whole dollars. The amount laborers are paid is only a fraction of their worth. 

Some worry that this will lead to further inflation and will then lead to less overall spending considering the increased costs of items. In all reality, it would instead encourage spending and provide more funds for everyday families to purchase more goods and services. This isn’t just some economic theory, as this principle was put in practice around one of the most progressive periods of American history: from the beginning term of FDR to the last of Johnson, wages skyrocketed significantly. Right around that same time, the middle class was improving decade by decade. If we were to bring back the balance of how much working people are paid, this trend will come back and become a win-win for both government and its citizens. 

What do you think of the issue? Do you agree? Do you think there is a better alternative?