--- title: "Meaning & Key Takeaway of: One of the things that happens when you…" description: "\"One of the things that happens when you have austerity is that wages get lower, and some people think lower wages in the short run can increase corpora..." image: "https://sms4smile.com/quotes/i/659/joseph-stiglitz-1351_happens_one-of-the-things-that-happens-when-you_3000973.jpg" --- # One of the things that happens when you have austerity is… ![“One of the things that happens when you have austerity is that wages get lower, and some people think lower wages in the short run can increase corporate profits.” quote by Joseph Stiglitz](https://sms4smile.com/quotes/i/659/joseph-stiglitz-1351_happens_one-of-the-things-that-happens-when-you_3000973.jpg) [Download](https://sms4smile.com/quotes/i/659/joseph-stiglitz-1351_happens_one-of-the-things-that-happens-when-you_3000973.jpg) [Open image](https://sms4smile.com/quotes/i/659/joseph-stiglitz-1351_happens_one-of-the-things-that-happens-when-you_3000973.jpg) > “One of the things that happens when you have austerity is that wages get lower, and some people think lower wages in the short run can increase corporate profits.” [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Austerity can lower wages, and some argue this boosts short‑term profits, highlighting tension between cost‑cutting and corporate gain. **In simple terms:** Austerity lowers wages, sometimes raising corporate profits. Key Takeaway Question the true cost of austerity. Themes economics austerity corporate profit Mood critical analytical Type economic political When to use this quote - government budgeting - business strategy - public debate - social welfare Key Concepts labor market policy analysis Questions to Reflect On - How does wage reduction affect workers? - What alternatives to austerity exist? A Different Perspective May ignore long‑term societal impacts. ★ ★ ★ ★ ★ No ratings yet [People](https://sms4smile.com/quotes/about/people/) ## Related quotes > [Over the years, America had become more like Wal-Mart. It had gotten cheap. Prices were lower, and wages were lower. 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