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

[nebraska]

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

http://www.spokesman.com/stories/2016/de...kill-entr/

[pbrower2a]

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.

[David Horn]

(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?

[nebraska]

https://www.forbes.com/sites/timworstall...0e942771e7

[David Horn]

(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.

[theory]

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?

[Einzige]

(02-02-2018, 04:38 AM)theory Wrote: 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?

Ironically, the USSR was governed by fiscal conservatives who spent way less domestically than the Americans.

[nmoi]

Americans scream tyranny is good because Communists care about balanced budgets.

[pbrower2a]

Commies have balanced budgets because they have monopolistic control over the means of production and distribution and can fix prices and quality so that profits meet the "needs" of the Commies for weapons, police repression, and the aristocratic accoutrements of the Commie bosses.

Non-communists can float loans and rely upon the multiplier effect for expanding the economy and the tax base with government expenditure... and perhaps expand the ability of people to do productive work so that they can pay the same taxes at higher rates or reduce the cost of doing business that also results in higher profits and tax revenue.

[Einzige]

The Soviets weren't Communist, lol.

[pbrower2a]

(04-19-2021, 09:19 PM)Einzige Wrote: The Soviets weren't Communist, lol.

Except for the "National Bolsheviks", if they call themselves Commies, they almost always are. They not be "your" sort of Commies, but what else could you call them? "State capitalists" is excessively ambiguous.

[Einzige]

(04-19-2021, 09:56 PM)pbrower2a Wrote:

(04-19-2021, 09:19 PM)Einzige Wrote: The Soviets weren't Communist, lol.

Except for the "National Bolsheviks", if they call themselves Commies, they almost always are. They not be "your" sort of Commies, but what else could you call them? "State capitalists" is excessively ambiguous.

No, State capitalist is exactly what the Soviets were, as Lenin acknowledged in The Tax In Kind.

[Einzige]

Most anarchists are Communists, brain genius. "Anarcho-capitalism" is a contradiction in terms .

[gvs3]

Americans scream that the elites are holy gods, but who knows what is best for you? Could the globalists ever be wrong?

Experts said that the sun revolves around the Earth, but later found out that they were wrong.

The ruling class said marijuana was dangerous and smoking was safe, but now says pot is safe and smoking is dangerous.

The elites said airbags must be mandatory, but airbags kill people.

The ruling powers said plastic bags must be mandatory, but plastic bags spread germs.

The 1% said masks must be illegal, but now the ruling powers says masks must be mandatory.

China said families must be large and then made a one child policy.

WTF?

[pbrower2a]

A higher minimum wage makes getting employment makes marginal workersless likely to get work. On the other hand, abysmal wages also depress consumer demand Such is a consequence of supply-side economics that depends upon keeping as many people overworked and underpaid so that profits can be higher and that an economy might put more of its productivity into exports

[David Horn]

(04-23-2021, 01:01 AM)pbrower2a Wrote: A higher minimum wage makes getting employment makes marginal workersless likely to get work. On the other hand, abysmal wages also depress consumer demand  Such  is a consequence of supply-side economics that depends upon keeping as many people overworked and underpaid so that profits can be higher and that an economy might put more of its productivity into exports

Look at it another way.  Should any endeavor that needs near slave labor to prosper exist at all?

[RainSoap]

Can you quit jobs you hate, learn a new skill, move to another city, or start a business?

[pbrower2a]

(04-23-2021, 06:27 AM)David Horn Wrote:

(04-23-2021, 01:01 AM)pbrower2a Wrote: A higher minimum wage makes getting employment makes marginal workers less likely to get work. On the other hand, abysmal wages also depress consumer demand  Such  is a consequence of supply-side economics that depends upon keeping as many people overworked and underpaid so that profits can be higher and that an economy might put more of its productivity into exports

Look at it another way.  Should any endeavor that needs near slave labor to prosper exist at all?

Absolutely not. 

Maybe we can make accommodations to people with handicaps of any kind, as most handicapped people have some virtues as workers at something. Maybe not industrial work, as handicapped people might be industrial accidents waiting to happen (which may be part of the reason for Social Security -- getting older workers who were especially prone to industrial accidents that caused harm to people other than themselves out of the workplace). 

The handicapped people that I have known are typically cautious, which is a virtue in many occupations. You would not want me doing industrial work (bad back, little arm strength, no manual dexterity -- congenital conditions, and little ability to understand non-verbal communication   -- which goes with Asperger's syndrome)... but you can imagine what I can do well. 

We should pension off the extremely handicapped  or have sheltered workshops for the mentally-impaired. Sheltered workshops can keep people from being exploited and abused. 

Near-slave labor implies that the system exploits people capable of far better. It is the sort of exploitation that makes the special case of Marxism relevant to the social reality of the economic order.

[pbrower2a]

(04-23-2021, 07:30 AM)RainSoap Wrote: Can you quit jobs you hate, learn a new skill, move to another city, or start a business?

It is easy to quit a job that you hate, only to find that the only jobs out there are similarly loathsome. Learning a new skill may be difficult for people with limited intellect or who is set in one's ways. One may be stuck because of the dependency of a close family member. Starting a business? High risk, and it takes much time to establish a clientele.

You need to get out more.

I sww plenty of job openings... and I find that the people who work in them go out for 'smoking breaks' which indicate that a drag on a cancerette is about all that they seem to live for.

Sometimes one must first fix the person.

[sclady]

Would a higher minimum wage increase costs and discourage people from starting businesses?