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Well let me start by saying I don't have any intentions of pushing a agenda for global minimum wage, but instead I'm looking for the Good, the Bad, and the Ugly it may cause if instituted globally. So to begin, the West in particular has long been a beacon of the globes wealth, influence, and military power but as time moves forward a massive amount of wealth has shifted into the hands of our 'associates' (don't want to use foes because although China, Russia, etc arent particularly our friends, we aren't much of enemies either), it's evident that the West is losing plenty of jobs to those places. Certain fields with manufacturing in particular has shifted to the East for the cost of labor is far lower than ours making us less competitive; so rather than continuing to give mass tax breaks to keep companies here, how about global minimum wage? Would it harm us? Poorer countries would have a massive rise in wealth because of it and companies couldn't just move to avoid paying higher-wages. Maybe various currencies would be pegged to the currency of those in the UN Security Council (permanent members), so the 1/5 is pegged to US, 1/5 pegged to China, 1/5 pegged to Russia, and 2/5 pegged to the Euro.
So what do you think? Like I said, I'm not pushing a agenda, I just want to know the possible affects of this. And please don't say abolish minimum wage globally, that would only be a move backwards for the entire globe.
it would be a seriously low wage if this happened.
something like 0.25 dollars an hour.
can't see people in the West putting up with that somehow
That's why I suggest pegging it to our currency, if the US commands $7.50 a hour in US dollars, every country pegged to our currency (which I suggest would be 1/5th of the world outside the US) would be forced to adapt as well essentially meaning a country such as Dominican Republic (DR) where mimimim wags may be lower than ours, would go up to match ours but in their own currency. So that's mean in DR, mimum wage would be 306.75 pesos an hour.
Of course with this system the price of goods would increase, but they would be affordable to much more people therefore they may not go up by much.
It would come through the increased cost of consumer goods to people in the West. We live the good life off of the backs of poor people in sweatshops right now. I'm not advocating for a global minimum wage either--just stating the truth.
It would come through the increased cost of consumer goods to people in the West. If We live off the backs of poor people in sweatshops right now.
I'd agree with this but only because it would benefit US workers, I don't see how that is going to help a third world country becsue one of the major incentives is gone to send those jobs there. The fact is developing countries depend on those jobs.
Many years ago the idea in some EU countries was to have a basic income/salary for everyone who was an adult and when you worked a job you got an added salary for the work you did.
Was just an idea in certain circles never made it into anything was just discussions.
Used to be a livable wage in EU & UK these days we are seeing more and more families/single persons where the salary/income is not enough to cover all the bills expenses etc
Well let me start by saying I don't have any intentions of pushing a agenda for global minimum wage, but instead I'm looking for the Good, the Bad, and the Ugly it may cause if instituted globally. So to begin, the West in particular has long been a beacon of the globes wealth, influence, and military power but as time moves forward a massive amount of wealth has shifted into the hands of our 'associates' (don't want to use foes because although China, Russia, etc arent particularly our friends, we aren't much of enemies either), it's evident that the West is losing plenty of jobs to those places. Certain fields with manufacturing in particular has shifted to the East for the cost of labor is far lower than ours making us less competitive; so rather than continuing to give mass tax breaks to keep companies here, how about global minimum wage? Would it harm us? Poorer countries would have a massive rise in wealth because of it and companies couldn't just move to avoid paying higher-wages. Maybe various currencies would be pegged to the currency of those in the UN Security Council (permanent members), so the 1/5 is pegged to US, 1/5 pegged to China, 1/5 pegged to Russia, and 2/5 pegged to the Euro.
So what do you think? Like I said, I'm not pushing a agenda, I just want to know the possible affects of this. And please don't say abolish minimum wage globally, that would only be a move backwards for the entire globe.
I don't think the Scientists know what they are talking about...
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