I see in the news today that Louis Vuitton has recorded a staggering 11% jump in sales for the first quarter of this year. Also in news today, the Restaurants Association of Ireland has appealed for the minimum wage to be lowered so that poorly-paid people can be paid less.
What does this mean? Well, for some time now, Wall Street has been going through the roof while main street has been going through the floor. The super-wealthy now are earning money from companies that are more ‘efficient’ than they were before the economic crisis. This means they can make more profit. When I say efficient, I mean that ordinary workers are now working their socks off, turning up to work when they are sick, doing stuff that they wouln’t normally have to do just to keep their jobs. This causes a trickle-up effect for the super-wealthy who now can buy more brown handbags thanks to this efficiency.
The restaurant people don’t want to pay their staff badly. Why would they? Unhappy staff really are not a help in a restaurant. Unhappy waiters? Nein Danke. Just ask Manuel. However, ordinary folk just don’t have the money to go to restaurants as often as they used to and restaurants need to cut costs or go extinct.
Not that this is an issue for the indifferent LV customer.