Minimum wage

[RD_151]

opps, its worse than I thought I remembered in this case.

At least we are still only talking about slightly over 1% of the population.

 

[PT]

Slightly over 1% of the population is still somewhere around 4 million people. Not good.

 

[Professur]

I'm amazed. Three pages and noone's thought to bring up unions yet.

 

[freako104]

if it counts unions are in my sig . shadow i dont think its complete BS but it is an exaggeration as i think they will want to go where the money is and to be honest to lower wages would encourage them not to work or sit at home or make more money. it is an extreme exaggeration but it is a possiblity

 

[sbcanada]

Minimum wage = protection for the country's workers and no slave labour

 

[Gato_Solo]

I'm amazed. Three pages and noone's thought to bring up unions yet.

I actually thought of that, but didn't have enough info to post. Just opinions without facts. I make a fool of myself enough without adding misinformation to the mix.

 

[Aunty Em]

If everybody is only making $1.50/hr and can barely afford to survive ,they aren't going to make purchases that drive an economy .Employers would be making less profit and would cut wages even more.

That's exactly what I was thinking.

 

[Gonz]

All this & my point missed it's mark entirely. If employer A refuses to pay above a standard, his company will more than likely have less or no experienced employees, working at slower pace & caring less than employer B who pays 15% above standard. Thus, the market will be more likely to use B's product because it's better made. Add employers c-z in the mix & it's a market driven economy. There is a maximum, per product, because at some point, more money per employee means price increases, which in turn means the product is overpriced & the market will find different suppliers or different products in which to use. Which argues against a minimum wage. If the minimum drives up prices, the product becomes overpriced, in turn, obsolete, driving employers out of business & making more unemployed.

 

[ris]

that takes the assumption that the best made product will be the choice of customers and consumers. in reality the best priced product will. if company a can flog it cheaper then they have a more likely chance of pulling the market their direction.

the sad reality is that price, not quality, is what drives the market.

 

[Aunty Em]

The USSR provided goods to its citizens at fair prices. Everyone paid the same. Everyone earned the same wages. Very fair, very perfect. (Ignoring the fact that after 70 years it collapsed)

Well THAT shows how little you know about the USSR. It was never a true socialist country - I don't know where you get this idea of perfection from - do you honestly think that the "elite" survived on the same wages as everyone else? It was precisely because of the inequalities and greed amongst other things that it failed. Real life is never simple or straightforward.

 

[Professur]

Gonz, if what you posted was true, then how do car companies like Huyndai survive?


There is no such thing as a single tiered market. Rich people can afford to buy the best. Poor people buy at the dollar store. And that keeps the inferior industries alive. The seldom die out. The better industries often fail, though, because their margins are much tighter, their markets much smaller, and their flexibility nonexistant.

Case in point. Rolls Royce, Bently and Jaguar all went bankrupt.

 

[Aunty Em]

In fact...sometimes you make more money on welfare than you can on minimum wage.

Thus removing the incentive to work... I would actually be interested to know whether the minimum wage exists in any countries that don't have a welfare system.