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Columbus $15 Minimum Wage

Home Forums General Columbus Discussion Columbus $15 Minimum Wage

Viewing 15 posts - 46 through 60 (of 83 total)
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  • #1122318

    pedex
    Participant

    no, not even close

    a half dozen or more economic indicators and situations blow that idea away

    #1122375

    clancy12
    Participant

    You haven’t seen the rates rise because we haven’t hit full employment, but if we were to hit full employment, they would start to raise interest rates. Basically they guarantee a small amount of unemployment to prevent any true price equilibrium in the labor market, because they think people are more afraid of inflation than being unemployed.

    I think it is more like they care about the people that are afraid of inflation more than those that are afraid of unemployment.

    #1122399

    Shako
    Participant

    I love economics “word salad”.

    #1122401
    lazyfish
    lazyfish
    Participant

    Whether you believe it’s justified or not, it is a fact of human nature that when the rich get too rich, for too long, the poor will inevitably rise up with pitchforks and torches and revolt over it. So, unless the rich want to hide on the moon, they’ll have to admit that there are just limits as to how rich the rest of the population will let them get before the guillotines come out.

    I would be interested to hear more about these “facts” the french and russian revolutions were more bourgeoise revolts at first about power sharing…history has few to no examples of the poor rising up and actually establishing a counterpoint to oligarchy, the rich do a better job of dividing the working class and maintaining their wealth and power.

    #1122404
    DC
    DC
    Participant

    I would be interested to hear more about these “facts” the french and russian revolutions were more bourgeoise revolts at first about power sharing…history has few to no examples of the poor rising up and actually establishing a counterpoint to oligarchy, the rich do a better job of dividing the working class and maintaining their wealth and power.

    Bolivia?

    #1122478

    Ned23
    Participant

    <div class=”d4p-bbt-quote-title”>lazyfish wrote:</div>

    I would be interested to hear more about these “facts” the french and russian revolutions were more bourgeoise revolts at first about power sharing…history has few to no examples of the poor rising up and actually establishing a counterpoint to oligarchy, the rich do a better job of dividing the working class and maintaining their wealth and power.

    Bolivia?

    Venezuela and Cuba, too. Oh and remember Imelda Marcos and her shoes?

    Lenin/USSR is probably the most famous example, although the oligarchy eventually pervaded the communist party and reasserted themselves 80 years later.

    #1122499

    BrianCW
    Participant

    ^^lol

    #1122569
    Darien D.
    Darien D.
    Participant

    People will soon be replaced with robots anyway, so I don’t think it’s going to matter. They’re protesting themselves right out of a job because, as another poster said, employers will think of ways to get around having to pay that much.

    #1122571

    SSBucks
    Participant

    People will soon be replaced with robots anyway, so I don’t think it’s going to matter. They’re protesting themselves right out of a job because, as another poster said, employers will think of ways to get around having to pay that much.

    Exactly. “Oh you want $15/hour Mr. McDonald’s cashier? Well you’ve now been replaced by a touch screen ordering kiosk.”

    #1122609

    clancy12
    Participant

    Yes, they may be replaced by a machine. That is how it works. Automation is not a new invention. When labor is cheap, you get cheap labor– low productivity– businesses. Then, money can go to higher productivity businesses. We really don’t need 9 million restaurants. The south was way behind the north after the civil war because they had plenty of cheap labor.
    On the other hand, we need desperately to invest in infrastructure. So, what we need is some federal spending to create jobs.
    Burger flipping is not the only low wage job. There are jobs like housekeepers or home health aide. Do you want the person taking care of your grandparents to be paid 9 dollars an hour?

    #1122880

    CivilE
    Participant

    When labor is cheap, you get cheap labor– low productivity– businesses.

    What is your source that low wages equal low productivity. I worked harder at my college job making $5/hour than I do now as an engineer. What exactly is a low productivity business? I don’t know any business that would stay afloat if they weren’t producing a product that was in demand by the market.

    We really don’t need 9 million restaurants

    We don’t NEED a great many things, but we HAVE 9 million restaurants because there is a market demand for them.

    Burger flipping is not the only low wage job. There are jobs like housekeepers or home health aide. Do you want the person taking care of your grandparents to be paid 9 dollars an hour?

    How does the $9/hour worker suddenly become superior by giving them an additional $6/hr? You’re still getting the same people with the same education and same work ethic but at a higher price point. How many people will be able to continue to employ a housekeeper or home healthcare provider if they suddenly had to foot a 67% price hike?

    #1122887

    pedex
    Participant

    <div class=”d4p-bbt-quote-title”>Ned23 wrote:</div>
    You haven’t seen the rates rise because we haven’t hit full employment, but if we were to hit full employment, they would start to raise interest rates. Basically they guarantee a small amount of unemployment to prevent any true price equilibrium in the labor market, because they think people are more afraid of inflation than being unemployed.

    I think it is more like they care about the people that are afraid of inflation more than those that are afraid of unemployment.

    The central banks have been desperately trying to generate inflation for 8 years and failing. Over indebted people dont borrow voluntarily and banks dont lend when the risk of default is high. We are in what the keynesians call a liquidity trap. Plenty of almost free to borrow money available and no takers. The credit cycle is basically stuck in a trap of its own making. The banks and lack of law enforcement and regulation allowed a world record sized lending bubble on housing to form and then blow up. This is the consequence when the bad debts are not allowed to be cleared out. The banks were taken care of and made whole again but john q taxpayer paid for it, and is still paying for it, and has been left twisting in the wind up to his nutsack in debt. People upside down on their house dont borrow more $$. Then to make matters worse we lost a whole chunk of ok paying jobs and replaced them with minimum wage jobs. When you destroy your workforce ability to earn they dont voluntarily borrow and banks dont lend to them.

    Our present situation is a culmination of decades of really stupid policies and criminal behavior, it isn’t going away anytime soon. The FED is doing its job, protecting the ponzi and itself. That is all it cares about.

    #1122888

    clancy12
    Participant

    “Productivity” is a basic term from economics. It is not a slur on how hard someone works (although you impugn low wage workers while saying you worked hard at your low wage job)
    One of the reasons we get so many restaurants is because the barriers to entry are low (compared to some other businesses) and cheap labor is available. Many go out of business after a few years. It is not just “market demand.”

    #1122889

    clancy12
    Participant

    Oh, and low productivity does not necessarily mean low usefulness. the home care aide is very useful– but it is a labor intensive job.
    hey! How about we make people work for 50 cents an hour that way there would be plenty of jobs!

    #1122890

    Scioto Tower
    Participant

    Yes, they may be replaced by a machine. That is how it works. Automation is not a new invention. When labor is cheap, you get cheap labor– low productivity– businesses. Then, money can go to higher productivity businesses. We really don’t need 9 million restaurants. The south was way behind the north after the civil war because they had plenty of cheap labor.<br>
    On the other hand, we need desperately to invest in infrastructure. So, what we need is some federal spending to create jobs.<br>
    Burger flipping is not the only low wage job. There are jobs like housekeepers or home health aide. Do you want the person taking care of your grandparents to be paid 9 dollars an hour?

    Yeah, that’s exactly what we need, the federal government using hard earned tax dollars to create more jobs. Instead of lowering the barriers for business owners to higher more (lower taxes, less regulation).

Viewing 15 posts - 46 through 60 (of 83 total)

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