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That's because Asia is now in their own industrialization era, just like we had ours.
To compete, we need people to not "manufacture" stuff, we need people to DESIGN. STEM rings the bell the most... we need more people in science and engineering. It's easy to outsource people when the job is to put together something someone has already designed. It's not easy to outsource the actual designer, that's where the creative and technical juices come together and is not easily replicated.
Yes, yes, yes. The key to higher wages is to offer services and/or products that are worth more to the end user.
the manufacturing jobs for the most part went to asia.
us is a service based economy.
the average us wage isn't even 15.00 an hour.
the majority of people, including the majority on this forum live paycheck to paycheck.
Now?
Walmart, McDonalds and YUM Brands ( Taco Bell) became the top three US private sector employers in the 80's.
The US is the second largest global manufacturer in the world. The US is well positioned to move back to #1, based on investment in industrial robotics which has eliminated far more jobs than outsourcing over the past several decades.
The average wage is $24.57/ hr.
The US people have historically been lousy savers compared to the rest of the developed world. We like out square footage and stuff and obviously don't mind living beyond our means.
I have no idea how many on this forum live paycheck to paycheck. Did someone do a poll of 92 responders?
and parents need to boot their kids butts out of the house and put them to work, teach them how to save and stop giving everything to them.
Teach them how to save?
The US people have historically been lousy savers compared to other developed countries. The US people live in more space and have more stuff than most in the developed world. It is personal choice to live beyond one's means. Remember when National Flat Screen TV Day used to be called Thanksgiving?
The US people have historically been lousy savers compared to other developed countries. The US people live in more space and have more stuff than most in the developed world.
Americans also have the smallest vacations than most in the developed world. Half of all workers had ZERO paid vacation days last year. No vacation-nation takes a huge toll on quality of life for most Americans.
All I ask in housing is a tiny house on a tiny piece of land, which at current prices and interest rates should cost no more than THE RENT I AM CURRENTLY PAYING.
People who today are paying way too much to rent could actually afford to own downsized housing. Where did you get the idea they're not going to pay for it when they are already paying even more?
So yes, I would be willing to pay for it and have demonstrated the capacity to pay for it.
I've already given you many ideas of how to do that as have others. You have demonstrated no initiative to do so. How's the phone purchase going?
Protesters are still going strong for a minimum wage reset of $15.00 an hour.
Minimum wage was set, many years ago, to keep people/businesses from taking advantage of kids.
years ago, kids worked all the minimum wage jobs....
so, now you raise the minimum wage and what happens...
either the businesses will find a way to do away with the workers, or charge much higher prices...
the ramifications of this will be bad....this isn't a win/win
and the worst thing about this, is, it won't give many an incentive to work hard and do better by themselves, to take night courses, and go the extra mile....to educate themselves and get better jobs.
Colorado just passed Amendment 70, which will raise the minimum wage in stages until it reaches $12 in 2020. We're friends with the manager at a small privately-held company in Denver, so I asked him how it would affect the store's bottom line. He said that the owner and managers had met and determined that they would absorb the costs without any workforce reduction. I was happy to hear it.
We have a new dine in/take out restaurant by me that is really nice and offers a pretty healthy selection of food. The first thing I noticed when I walked in was that they had about 5-6 touch screen computers facing the customer where you would traditionally place your order, and about 4 people in the back working to actually make the food. Nice big 24" monitors where you just tap a few images and navigate a menu, then swipe your credit card and you are done. The declining expense of technology, increasing aptitude of people to use touch screens and apps, plus the clamoring for high paying but low value jobs is a perfect storm for this type of labor being easily replaced.
For those that say forcing a $15 min wage is a good thing, I'll take you out for lunch to this place one day and you can literally see the error of your ways in front of your eyes while you enjoy a nice tasty, healthy lunch.
Automation will happen regardless of minimum wage. I think I know which restaurant you are talking about, and the business model remains TBD--and it is something else entirely for a global conglomerate like Wal-Mart or McDonald's to undergo a change from people in low-wage service jobs to screens.
Quote:
Originally Posted by snowtired14
I know this subject has been beaten to death, but it's not going to go away, and especially after the Trump election. The have nots are the most vocal advocates and they don't care to know what the repercussions of a $15/hr. mandated wage would be, they can only see the $$$ in front of them and the bills it will pay. The problem is that the employer cannot eat the increase, it will be passed onto the consumer, it's ultimately a trajectory for an inflationary economy which effects everyone including the new $15/hr wage earners. It also puts them into a different tax bracket and eliminates some deductions, thus diminishing the effective increase. On the government side, it's win/win, higher wages, higher tax revenues. It's a tough problem, but one has to be careful what one asks for.
Labor is a decreasing slice of the cost of production in a lot of industries. Minimum wage earners are not a big chunk of that labor cost. But increasing the minimum wage would materially benefit millions of families in the US. The likely impact on inflation from the move to $15 would be minimal. In the context of a $16 trillion economy, even millions of workers at $15/hour don't represent a large shift in the dollar's value. There are about 37.5 million FTE workers that would be affected. Based on a 40 hour work week and 52 weeks a year, let's assume that the average hourly increase is $5 (meaning the average wage b/w federal minimum & $15 was $10 pre-change). The result of the change in law, assuming no jobs are eliminated or move overseas, would be $390 billion more to workers. A lot of money, but just 2.4% of the US GDP.
Automation will happen regardless of minimum wage. I think I know which restaurant you are talking about, and the business model remains TBD--and it is something else entirely for a global conglomerate like Wal-Mart or McDonald's to undergo a change from people in low-wage service jobs to screens.
Of course, but a rising minimum wage will spur it along faster. You saw it happen in grocery stores, then Wal-Mart and HD. This new restaurant is a basic business model, nothing that should raise questions they seem to be doing well and have a handful of locations with more slated to open. The only major difference being the self ordering. We should be focused on finding ways to get people to add more value to the work they do (like school, training, etc) rather than forcing arbitrary pay increases.
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