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Originally Posted by aka123
You seem to settle for a quite low sum. With 624 $ in a month you have no incentive to get more.
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Me? I wouldn't take a job paying $5/hour and no-one is forcing me to do so but at least I should have the freedom of choice.
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And when you talk about some jobs going to Asia and so on, how is USA any different, or any other western country?
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I just use the UK as an example but it applies to many western countries.
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But the thing is, that it doesn't create good life, desirable life, or even that much long term competition advantage that you keep pricing your job lower and lower.
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I don't understand this argument at all. Free market determines the price of commodities and goods, why not also labour? It was like that for 1000's of years in all countries and worked perfectly well. Main problem with minimum wage:
(1) It makes unemployable all people whose labor is not worth the minimum wage and because those people claim benefits, it increases the national debt.
(2) It makes it impossible for thin profit margin businesses which rely on cheap labor costs to operate. In some cases, they hire in Asia to solve that problem.
(3) It raises the price of all goods & services produced by such labor which in turn makes it hard for that company to compete with the company that gets cheaper labor abroad, forcing the losing company to do the same in order to improve their competitiveness.
MINIMUM WAGE is a total disaster...!