Global Minimum Wages

renovator said:
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 .
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That's what Karl Marx believes and why he hates capitalists and is opposed to profit.
 
mmm....shiney! said:
renovator said:
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 .
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That's what Karl Marx believes and why he hates capitalists and is opposed to profit.
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Well if theres no capitalists who will have enough money to run big businesses. Should they all be government owned? Or we shouldnt progress because of lack of funding ?
Karl marx must be a raving lunatic to run a business without profit .How can you pay wages ,rent etc? what a fruitcake .He should go live in north korea
 
mmm....shiney! said:
renovator said:
You cant have a wage thats out of whack with the cost of living .
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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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Anyone with half a brain says it cant & wont happen . Theres no harm in dreaming but theres a difference between dreams & fairytales
 
Oh stop it boys you will make me cry :p: Half a working brain is better than a full one thats cluttered with so much shit it cant function properly . There is more chance of seeing aliens than changing the systems/ goverments

Keep dreaming ....it doesnt hurt to dream :lol:
 
renovator said:
Half a working brain is better than a full one thats cluttered with so much shit it cant function properly .
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753_renovator.jpg
 
renovator said:
Oh man i thought that pic had been destroyed . send me the negative & i send you a cheque ....again .
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There's something disturbing about your smile in that photo reno, I am constantly being drawn to it..........................................which, considering your attire, is a positive I guess. :lol:
 
I agree with what they said about it being important to attract the right kind of people... But so far it has failed miserably.
 
Fiji looks set to introduce a national minimum wage of $2.32/hour.

http://www.fbc.com.fj/fiji/14060/new-proposed-minimum-wage-rate-welcomed

Fiji's poor wage rate has been blamed for the high level of poverty in the country.
And many stakeholders who been lobbying for some years now for the establishment of a minimum wage rate have welcomed the new proposed rate.
Based on the findings of the National Minimum Wage Baseline Survey two dollars and thirty two cents an hour is now the proposed minimum wage.
Social Activist and a strong advocate of a proper rate Father Kevin Barr says the new proposed rate is a good start.

"This is a transitional arrangement and I think it is a good start, I think it is excellent but hopefully it is not the final one. And as he(survey consultant) envisaged every two years this will be re-visited and the formulas will be used again and perhaps strengthened a little bit."
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and the formulas will be used again and perhaps strengthened a little bit
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This is the Keynesian approach to economics ie the market can be understood and manipulated using formulae. The poor wage rate is apparently responsible for poverty in the country. Let's forget for a moment that Fiji has been beset with political turmoil, racial problems and a declining industrial base (it can hardly be called a developing country, more like a contracting country) - poverty exists in Fiji because people are paid poorly. Not because there is very little demand for Fijian products or is corrupt or whatever else hinders the country, its because the workers are paid poorly. So if you want to increase everyone's standard of living, what do you do? Increase the pay rate.

The ILO applaud it, social activists applaud it even the Fiji Commerce and Employers Federation applaud it. Why not increase it $10/hour which the Unions are asking for? That would make all workers 5 times richer. Nah, increase it to $100/hour and make the Fijians the richest people in the world. That's bound to solve that little poverty problem they have. Might give the Samoans hope for their future too.

God its simple isn't it?
 
Good video.

Interestingly, before he entered Parliament and became Labor's Shadow Assistant Treasurer, Dr Andrew Leigh was a professor specialising in labour economics. He found that reducing the minimum wage in Western Australia by 10 per cent would increase employment by around 3 per cent within three months.

As David Leyonhjelm pointed out in a recent AFR article:

David Leyonhjelm said:
Thousands of Australians would love to have paid work. They include those just out of school, just out of jail, age and disability support pensioners, sole parents and refugees.

Thousands of Australian businesses would be willing to take a chance on these job seekers and pay them more than the $5 to $10 an hour they currently receive on welfare.

But they are forbidden from doing so. It is against the law to offer or accept any such arrangement. To take on a new starter and pay them even double their welfare payment is illegal. No matter how poor their resume or how willing they are to work for rates of pay and/or terms and conditions that suit them and their families, they can only be employed if they are paid the minimum wage, notionally about $16.40 an hour but over $20 an hour for some casuals.
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That is quite interesting.
I'm quite surprised actually that something as blatantly obvious as the harm that minimum wages causes isn't more widely understood.

The issue is so simple, it is so clear that forcibly increasing the wages of some, necessarily takes it away from others.

Maybe I have into economics so long (not very long) that I've lost touch with how stupid some regulations are.

I came across a new one today, payroll tax. This is to date the most idiotic ridiculous tax I have heard of to date (and in current use). As soon as a business passes a yearly wage threshold, they have to pay an extra 4.57% on top of the wages. WTF !?
Aren't we supposed to be increasing employment ?
 
SilverSaviour said:
That is quite interesting.
I'm quite surprised actually that something as blatantly obvious as the harm that minimum wages causes isn't more widely understood.

The issue is so simple, it is so clear that forcibly increasing the wages of some, necessarily takes it away from others.

Maybe I have into economics so long (not very long) that I've lost touch with how stupid some regulations are.

I came across a new one today, payroll tax. This is to date the most idiotic ridiculous tax I have heard of to date (and in current use). As soon as a business passes a yearly wage threshold, they have to pay an extra 4.57% on top of the wages. WTF !?
Aren't we supposed to be increasing employment ?
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5.45% in NSW
 
"If an alcohol tax is supposed to reduce alcohol use then wouldn't a payroll tax reduce employment." (Forget who said this)
 
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