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In this quote, former British Prime Minister Harold Wilson is highlighting how wage increases for workers can contribute to rising prices for consumers. His point is that when labor costs go up due to higher wages, companies often pass those increased costs on to customers in the form of higher prices.
So while a wage hike may help workers afford more, it can also feed into inflation and the rising cost of living. Wilson’s message conveys the complex relationship between wages, prices and economic growth – what benefits earners may burden spenders, showing how these macroeconomic factors are interlinked.