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Money???
So their reward will be just a Thank You note?
That will be a short line.
Money???
So their reward will be just a Thank You note?
That will be a short line.
Nossir. I wouldn't go so far as to call it treason.... but it damn sure isn't patriotic.
I don't see how it is one or the other.
Is it patriotic to distort price signals to keep Americans locked into unproductive enterprises, struggling against a higher cost of living?
If we did those first things, we likely wouldn't have to worry too much about encouraging saving, as few people would have any money to save.
You do understand that when consumers save more, that means they aren't consuming as much, and thus businesses don't expand, and new jobs aren't created (they are actually destroyed), don't you? And you do realize that when workers recieve less compensation, they spend less and save less don't you?
What you just did was to outline a race to the bottom. In no time we would have third world poverty.
I wasn't aware that the problem of third world poverty was caused by their citizens not demanding enough. That's quite an interesting proposition.
We now here calls that the U.S. must confront the rise of China. However, China's rise has been facilitated by the outsourcing of U.S. manufacturing to places like China, and selling those cheap goods to U.S. consumers. As such, is the outsourcing of jobs overseas patriotic?
I wasn't aware that the problem of third world poverty was caused by their citizens not demanding enough. That's quite an interesting proposition.
If only they bought more automobiles with the goods or money that they don't have, they'd all be rich as Croesus.
It's caused by them not being paid enough and thus not being able to consume enough. Ending poverty is about a country doing whatever it takes to develop it's internal market. I don't really think that's interesting, it's obvious.
And why aren't they being paid enough? If we raised their minimum wage would that bring them out of poverty?
Increasing minimum wage would help in many countries, yes. But that's not the only issue and certainly not the only solution.
Would you not agree that wealthier countries (Western Europe, the US, Canada, Australia, etc) tend to have better developed internal markets and government created infrastructure than poor countries? Do we not make more and spend more per person?
Yes we make more, but why are we paid more? You're stuck on the proximal cause and ignoring the ultimate cause. Look at this interesting case study of Bangladesh to see what happened when the minimum wage was raised there.
So Let's Look At What Happens When They Raise The Minimum Wage In Bangladesh - Forbes
Increasing minimum wage would help in many countries, yes. But that's not the only issue and certainly not the only solution.
Would you not agree that wealthier countries (Western Europe, the US, Canada, Australia, etc) tend to have better developed internal markets and government created infrastructure than poor countries? Do we not make more and spend more per person?
Incorrect, however...
If only they had the money to purchase goods with, they wouldn't be poor.
No, it's correct. If only they would have lots of demand for stuff, they'd be rich. Clearly they are only poor because they don't want things like air conditioning, safe water, automobiles, washing machines, etc.
It's Demand that makes us wealthy, after all.
tsk. that's a supply side argument. :naughty
Having bad living conditions, things like a lack of HVAC, automobiles, and washing machines is pretty much how we define poor these days. If the worker consumer class had more money, they would be able to purchase these things. If their worker consumer class was purchasing these things, they could start creating these things.
They are trapped in poverty until they create the types of policies that will allow their internal market to develop. Just doing the same stuff that they have already been doing will not magically result in prosperity.
Wrong. Money magically appears when you want things. Ergo, if only they had demand for those objects, they would be able to spur the economy by buying some.
:shrug: then they should try going deeply into debt in order to purchase overpriced consumer goods.
Money is created by lending or by the government. What you are talking about isn't demand, it's desire or want, when I say demand, that means actual realized demand, as in sales.
It works in the US
but we didn't used to have to do that, until wages for the vast majority stagnated during the mid 1970's.
I suspect that you and I have a very different view of what wealth is.
Do you really believe that an increase in minimum wage to $67/mth caused buyers to switch to lower labor cost countries? Really? There are countries where the min wage is less than $67/mth?
Even the article you linked to said "Please note that this doesn’t mean that the minimum wage should not be raised. "
Also, the unemployment rate in Bangladesh has historically always been very low, around 4% - basically full employment, so I doubt that if anyone does lose their job it will take very long to find a new one.
Did you not notice that this article only referenced a couple of cherry picked employers who said that they may modernize their plants as a response to the higher min wage? You think that technology is a bad thing? Wouldn't adding technology make them more productive?
Also, with a GDP growth rate exceeding 12%, it is only common sense that the population should grow wealthier over time, and increased pay is part of that.
We now here calls that the U.S. must confront the rise of China. However, China's rise has been facilitated by the outsourcing of U.S. manufacturing to places like China, and selling those cheap goods to U.S. consumers. As such, is the outsourcing of jobs overseas patriotic?
That would be a function of your knowledge about the way the products were manufactured, what is available for you to purchase, what you can afford, and the time you have to do the research. Depending on how all that shakes out, it may or it may not be.