I have identified an economic sociological phenomena or a sociological economic phenomena, depending on your point of view, well, what's a 3rd level education for??? Anyway, I was thinking about the present state of the economy and the looming recession or maybe even depression and I have identified where we almost are. The phenomemon I have identified and named too, is 'Glut point'.
Glut point is (as identified and defined by me) the point where the wealthy in a capitalist society have exploited all resources to their advantage to then find that the only way to keep on making money is to start paying decent wages to those whose efforts they have exploited so that they can create a demand for products thereby stimulating the economy. Which will, in turn, allow those on top to start making money again.
Which will be any day now. Actually, I think the Conservatives may almost be there with their call for a living wage, reality is slowly dawning. So, watch and listen and remember you heard it here first!