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Re: Is a minimum wage sound economics?
Posted: Wed Apr 22, 2015 2:23 am
by thedoc
Hobbes' Choice wrote:
Consider a state of affairs where people did not get paid at all, just kept alive.
Who would buy the goods they are employed to make?
I would, if you consider the alternative. If no-one buys the goods they make they will be turned out with nothing or possibly just killed and the bodies dumped in some mass grave. Is death better than living with some hope, even if it is just a little.
Re: Is a minimum wage sound economics?
Posted: Wed Apr 22, 2015 9:27 am
by Hobbes' Choice
thedoc wrote:Hobbes' Choice wrote:thedoc wrote:
You could try working in the US, I did and this is exactly what happened.
the evidence shows the contrary.
I don't know how socialism is working in England, but it isn't working in the US. I can only tell you my experience and I totally object to any minimum wage.
Actually socialism is working very well indeed in the USA, as it is in the UK.
You have only to compare yourself with your neighbour to the south to see how poorly lassaiz-faire capitalism is working for Mexico, and a range of other South American countries, whose rich sell off their land and resources to the highest bidder and leave their people in poverty.
Rich people and their stooges (such as you) like to complain about taxation and distribution (such as it is) but it works to keep demand buoyant and the economy healthy at all levels - not just the top.
I'm sorry to find that you have so easily swallowed their shit.
Consider; all modernised Western democracies have social policy that educates the people and provides them with minimum rights to work and health. The minimum wage is one strategy to keep better jobs at home, and to keep the baseline economy thriving. It works.
Your claim that after the minimum wage things "go back as they were" is palpably not true. The worst effect is the increase (1-2%) in youth unemployment as employers given the same wage level tend to select for maturity. No overall negative effects are measurable.
Re: Is a minimum wage sound economics?
Posted: Wed Apr 22, 2015 9:28 am
by Hobbes' Choice
thedoc wrote:Hobbes' Choice wrote:
Consider a state of affairs where people did not get paid at all, just kept alive.
Who would buy the goods they are employed to make?
I would, if you consider the alternative. If no-one buys the goods they make they will be turned out with nothing or possibly just killed and the bodies dumped in some mass grave.
As is the case in many non-"socialist" countries.