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Old 05-06-2018, 09:16 AM
 
Location: 500 miles from home
33,942 posts, read 22,532,112 times
Reputation: 25816

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Quote:
Originally Posted by DonaldJTrump View Post
Singapore doesnt have a minimum wage, or it's really low i believe, and its working out pretty well for them
Is it?
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Old 05-06-2018, 09:18 AM
 
45,230 posts, read 26,450,499 times
Reputation: 24988
Quote:
Originally Posted by Ringo1 View Post
Is it?
Does it matter? Shouldnt you be free to sell your labor for any price you want?
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Old 05-06-2018, 09:23 AM
 
Location: Morrison, CO
34,232 posts, read 18,584,601 times
Reputation: 25806
Quote:
Originally Posted by PCALMike View Post
More people have a job in countries with strong workers' rights than in America. America has one of the lowest shares of people with a job in the developed world. So you are dead wrong.
What do you base that on? Our 3.9% current unemployment rate? The popular way to accomplish "workers rights" is to enslave them to minimum wages, and kill business.
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Old 05-06-2018, 09:31 AM
 
26,694 posts, read 14,569,031 times
Reputation: 8094
Quote:
Originally Posted by 2sleepy View Post
So people are supposed to be quiet and willingly work for $7.25 an hour in order to allow incompetent business owners to continue their operation when they have an epiphany and realize that they didn't factor future wage increases in their business model? Give me a break
No, people are free to ask for whatever amount they want to be paid!
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Old 05-06-2018, 09:37 AM
 
14,221 posts, read 6,963,795 times
Reputation: 6059
Quote:
Originally Posted by Pilot1 View Post
What do you base that on? Our 3.9% current unemployment rate? The popular way to accomplish "workers rights" is to enslave them to minimum wages, and kill business.
The employment to population ratio. The unemployment rate does not take into account all the people who dont have a job in America and have given up or dont look for work.

https://stats.oecd.org/Index.aspx?Da...LFS_SEXAGE_I_R
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Old 05-06-2018, 09:40 AM
 
14,221 posts, read 6,963,795 times
Reputation: 6059
Quote:
Originally Posted by Frank DeForrest View Post
Does it matter? Shouldnt you be free to sell your labor for any price you want?
That just leads to a race to the bottom, and creates a huge market for terrible drudgery jobs and third world imported slave labor. Bad for the American worker. Singapore actually has a higher inequality than America and 80 year olds are working dishwasher jobs for $4 an hour to survive. Hardly a paradise.
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Old 05-06-2018, 09:59 AM
 
26,694 posts, read 14,569,031 times
Reputation: 8094
Quote:
Originally Posted by PCALMike View Post
That just leads to a race to the bottom, and creates a huge market for terrible drudgery jobs and third world imported slave labor. Bad for the American worker. Singapore actually has a higher inequality than America and 80 year olds are working dishwasher jobs for $4 an hour to survive. Hardly a paradise.
Yes, race to the bottom is how it works. It’s the greatest thing. Price, both labor and services, goes down as quality goes up.

Why is this so hard to understand?
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Old 05-06-2018, 10:10 AM
 
Location: Living rent free in your head
42,850 posts, read 26,285,621 times
Reputation: 34059
Quote:
Originally Posted by lifeexplorer View Post
Yes, race to the bottom is how it works. Price goes down as quality goes up.
Why is this so hard to understand?
That's very hard to understand, maybe you should take the time to explain it to us
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Old 05-06-2018, 10:12 AM
 
Location: Living rent free in your head
42,850 posts, read 26,285,621 times
Reputation: 34059
Quote:
Originally Posted by lifeexplorer View Post
No, people are free to ask for whatever amount they want to be paid!
and in a monopsony there is only one wage offered, take it or leave it You clearly don't understand the dynamics involved. Supply and demand disappears when wages are controlled by a small number of very large employers.
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Old 05-06-2018, 10:20 AM
 
14,221 posts, read 6,963,795 times
Reputation: 6059
Quote:
Originally Posted by lifeexplorer View Post
Yes, race to the bottom is how it works. It’s the greatest thing. Price, both labor and services, goes down as quality goes up.

Why is this so hard to understand?
Thats not the greatest thing. Lower wages lead to less power for workers, less political influence and prices go up as monopolies use their power to crush unions and competition.
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