Post
Topic
Board Economics
Re: The role of private sector involvement in Economic growth
by
Stepstowealth
on 04/05/2024, 17:03:13 UTC
he has created wealth to his employees by way of paying them salaries which in turn translate to economic growth
This is a reason why it is important for employers to pay their employees well because it is a contribution to the economic growth. If employees earn well, they will have more to spend, and other business owners that they patronize will have more to either pay their own employees well or to spend on other businesses.
It becomes a cycle where everyone earns well, everyone is happy, crime rate reduces, and the economy improves.