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Full Version: Higher minimum wage will kill entry-level jobs and economic growth
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Higher minimum wage will kill entry-level jobs and economic growth

http://www.spokesman.com/stories/2016/de...kill-entr/
The optimum for quick economic growth is ultra-cheap labor sweated to exhaustion, monopolistic pricing, low taxes, and government limited to suppressing a proletariat that resembles what Karl Marx saw. After a spurt of economic growth the order becomes uncreative, and the economic elites continue their abuse and degradation of people not among them. Of course there is no economic competition except to determine who will suffer the most for elites just to survive. Or at some point of economic calamity there comes a Bolshevik-style revolution.

We are at a stage of economic development in which mass poverty, at least of working people, is no longer necessary -- and thus unconscionable.
(01-30-2018, 07:15 AM)nebraska Wrote: [ -> ]Higher minimum wage will kill entry-level jobs and economic growth

Where it's been tried, that hasn't been the case. Capital always uses that argument to keep costs low, and profits high. I wonder why? Rolleyes Tongue
(01-30-2018, 08:27 PM)nebraska Wrote: [ -> ]https://www.forbes.com/sites/timworstall...0e942771e7

Sure, some businesses are externally constrained. Books are a good example. That hardly makes a trend, though. The increased buying power of higher wage workers will more than offset a specific case, like the one bemoaned in the Forbes article.
Why not set the minimum wage at $1000 per hour and rents at $10 per month? Free money!
Everyone knows that the USSR was such a huge success. What could go wrong?