Global Minimum Wages

Discussion in 'Markets & Economies' started by Cinvalo, Sep 16, 2013.

  1. renovator

    renovator Well-Known Member

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    I do lots of reading here & say very little ...only when i see a pile of manure do i comment ..I mentioned before just because you read it in a book or the net doesnt neccessarily mean its can be applied in the real world we live in today . I think thats the problem with some of the posters here they think its easy to implement something theyve read ....If only life was so easy in a world full of compromise & vested interests :)
     
  2. Resetrequired

    Resetrequired New Member

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    "say very little"............You should keep it that way.
     
  3. renovator

    renovator Well-Known Member

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    Grow a bit of character numbnutz yeaterday you were leaving because we had a joke with you . Now your telling me to say nothing :lol:
     
  4. col0016

    col0016 Active Member

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    For somebody with god-like intelligence you seem to struggle with basic reading comprehension. Unfortunately most people on here don't use the sarcasm stamp, so I forsee many scathing posts from you about how stupid everyone else is... unless of course you either learn to control yourself or just have a tantrum and quit the forum because you can't understand the peasants.

    Edit- Age: 12.75, IQ: 42.5.

    It's amazing how many people assume my name is Col and that I'm 16 (or was when I signed up) because of my username lol.
     
  5. Resetrequired

    Resetrequired New Member

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    "but Reno is a very well know coconut and dried fish spruiker on here. He appears to have done very well flipping them for decent profits"........There was no need for you to outline your details. I'd already worked yours out.
     
  6. col0016

    col0016 Active Member

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    Like I said before, when you start doing NAPLAN tests your school is going to hate you for dragging down the overall reading comprehension scores.
     
  7. Resetrequired

    Resetrequired New Member

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    "the overall reading comprehension scores".........I really don't know what you're talking about. What are you saying I have not comprehended?
     
  8. renovator

    renovator Well-Known Member

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    Yep you failed to comprehend humour ,wit & sarcasm :lol:
     
  9. Resetrequired

    Resetrequired New Member

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    Okay. Thanks for the hilarious interactions. I'm outta here. Some of you are absolute morons. Have fun with such hilarious stuff like dried fish or whatever BS it was.
     
  10. renovator

    renovator Well-Known Member

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    Jeez your a bit precious ...Did u leave ur sense of humour at work ?
     
  11. SilverSaviour

    SilverSaviour New Member

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    Soooo, back on topic... minimum wage laws, we decided they were great didn't we ?
     
  12. renovator

    renovator Well-Known Member

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    Well i did :)
     
  13. SilverSaviour

    SilverSaviour New Member

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    Oh I remembered a point I wanted to make:

    It was mentioned that businesses shouldn't be operating if they cannot afford x employees.
    This is an unfounded argument.

    Just because a business "cannot afford x extra employees" does not mean it is not profitable. It could be very small business with small profit margins.

    It could be saving for some upgrade or paying off the loan for some upgrade and x employees could make that upgrade un-economical, however without those employees the upgrade is economical. That upgrade in the future could very well be the stepping stone that takes this small business to a large and profitable organisation employing thousands of people.

    Businesses sometimes run at a loss and rely on savings from good times, or run into tough times during recessions.

    Lastly it is not up to anyone but the business owner to determine whether or not they should be in business.

    So again, minimum wages create unemployment. Please tell me again why you prefer more unemployment ?
     
  14. renovator

    renovator Well-Known Member

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    I think the amount turnover /profit or cash on hand determines whether or not they should be in business.
    You guys think its the fault of legislation i think its the fault of the business owner . Theres thousands of businesses employing people & turning a profit .

    If one cant survive i would say its a bad business model
     
  15. SilverSaviour

    SilverSaviour New Member

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    You are making a truly ridiculous statement.
    You are basically saying that unemployment is the fault of businesses simply not hiring everyone (who wants to work).
    I don't think I have heard such a ridiculous thing for quite some time...
     
  16. renovator

    renovator Well-Known Member

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    Nope its because they cant afford to pay them ..sheesh your a bit slow .Your comprehension is about as good as whats his name that was here earlier

    My statements are no more ridiculous than yours blaming everything else but the core of the problem ....The business isnt making enough money to pay extra workers .You guys dance around the problem like its a totem pole failing to see the real issues .God help us when your generation get into power :rolleyes:
     
  17. SilverSaviour

    SilverSaviour New Member

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    I must be a bit slow because I still don't understand what you mean.

    Can you please explain how unemployment is businesses fault ?
     
  18. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    What you say in regards to a business model is correct reno, however, government legislation restricts entrepreneurship and creates unemployment and then has to raise taxes from those that do have jobs in order to pay social welfare benefits.

    As consumers, we all want to pay as little as possible for our goods and services - labour is one of these things. Employers want to pay as little as possible for labour in order to maximise profits, conversely workers want to be paid as much as possible. In a free market, a balance is struck between the two competing parties and a business will employ as many workers as it needs in order to remain productive. If productivity increases then a business owner may choose to employ extra workers with the extra profits or the workers may negotiate an extra share of the profit, if productivity falls then business owners may shed workers or negotiate a reduced level of pay - whereupon those workers are free to either remain or leave and seek employment elsewhere in a labour market that is flexible and market driven. And here's the key reno, a labour market that is flexible and market driven is a labour market free of manipulation. By introducing legislation that fixes the price of goods and services (in this case labour), the government introduces inflexibility into the market - reducing the options of both employer and employee.

    Minimum wage acts interfere with the free flow of goods and services, in the same way as say if the government legislated that a metre of concrete should be $160 or a kilo of coral trout should be $11. Other forms of government legislation such as licensing and zoning requirements do likewise, they all restrict entrepreneurship.
     
  19. renovator

    renovator Well-Known Member

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    thanks oh shiney one . I agree it restricts entrepeneurs. But the awards are directly related to the cost of living in the applicable country .Unless you start at the bottom & work your way through every tax, tariff & associated costs applied nothing can be done . You need to overhaul the entire system from scratch ....& we know that isnt going to happen .

    I would suggest less employment from businesses is more related to the associated costs in that business like holiday pay RDOs insurances, compulsory super OH&S requirements.,rent/mortgage payments etc .Import/export duties theres too many to mention.

    You cant have a wage thats out of whack with the cost of living .

    Whats the point in having more employees when they will be living under the poverty line ? Just lowering wages will do nothing but give the govt better unemployment figures . Lets face it not many people will lower the price of their products when they get a wage break they will just add it to the profit column on their balance sheet . Businesses are not charities & any chance to up the profit will have most business owners rubbing his hands together & grinning .
     
  20. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    At the core of the minimum wage legislation is the mistaken belief that economic activity can be controlled through government intervention. It ignores the fact that economics has at its basis the individual, not some homogenous abstraction such as "society". Manipulation and interference creates wages that are out of whack with the cost of living.

    And you are correct, the only way to solve this problem is get rid of every manipulative piece of government interference.

    Who's to say that can't and won't happen?
     

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