Global minimum wage

[CPS01]

Is global minimum wage a good idea or not?
And why?

 

[OrphanSlug]

Absolutely terrible idea.

There are two core ideas behind minimum wage, and it does not matter which you subscribe as there is a common thread between them. One, the purpose of minimum wage is an economic stability tool by designing an artificially set minimum standard of living and then apply the means to protect any worker's ability to earn for that standard. Two, the purpose is all about creating an economic aid tool for the lowest paid worker who lacked a bargaining power method to ensure their own ability to earn for an artificially set minimum standard of living. The common theme among those two schools of thought is adherence the lowest paid worker being paid enough to maintain a minimum standard of living.

The issue with your question is we do not even have a common minimum standard of living state to state, let along across the globe. So where would you even begin establishing what is a minimum standard of living and then apply that to every economic model within every nation across the planet? It is not even plausible to come up with a place to start for this, as we are taking about an artificial economic distortion policy you are asking to apply across all the potential economic models across all nations. As an example, what makes up the typical basket of goods and services that would be a standard of living in the US is wildly different than say Chad or Niger in Africa. Similar story comparing those base economic factors for minimum standards of living for the UK vs. the Philippines or Vietnam.

It does not even make economic sense to try...

 

[CPS01]

I do not believe it is true that we do not have a place to start, Piketty suggested Europe in hos book "Capital in The Twenty-first century" where Living standards are fairly similar.

I Guess The idea is that The Nations would adjust to Their new median income and raise Their spending, which kickstarts what is often referred to as The good cycle: more spending -> more production -> more jobs -> more tax income -> more Education and so on..

What do you Think Of that?

 

[blaxshep]

Is global minimum wage a good idea or not?
And why?

The problem with a global minimum wage (More accurately a living wage) is that we have countries where the people live on a dollar a day which is less than one hour's work at minimum wage here in America and no global authority to enforce such an idea to begin with. The Capitalists will give you the usual line of BS, that the free market determines the value of a job or that the victim ...er employee, negotiated his compensation. It's pretty hard to "negotiate" even $5/hr when a corporation can just move its operations to a country where someone else will "negotiate" $5/week for the same job. Free Trade agreements are not about trade they are about exploiting labor. A return to tariffs to protect the more evolved civilization's workers is probably the best it could get. Global anything without a global authority is a bad idea and IMO globalization is a bad idea as well.

 

[natsb]

Is global minimum wage a good idea or not?
And why?

By the time the average cost of living was established across the world, the minimum wage might turn out to be something like $1 an hour. I don't think there would be much support for that in the industrial countries.

 

[Neomalthusian]

Is global minimum wage a good idea or not?

For whom?

 

[Mithrae]

Is global minimum wage a good idea or not?
And why?

Nothing like minimum wages as they're applied within nations, no.

But if enough trading countries - poor ones, as well as the biggest economies - could be brought on board with the idea, certain restrictions on companies' privilege of trading internationally (ie, between all countries agreeing to it) might be a good idea: To prevent a race to the bottom, seeking the lowest possible labour and environmental standards, companies should be obliged to meet a certain fraction of those standards as they exist in the countries they sell to.

For example if you're a company producing and selling smart phones, most of your consumer base will be in wealthier countries but - to maximise profits - most of our resources and labour will come from poorer regions of the world. Your suppliers might get some of their minerals from the Democratic Republic of Congo, perhaps, from militias who "have forced local people to dig in extremely dangerous conditions, have extorted minerals and money from self-employed miners, have tortured, mutilated and murdered those who don’t comply and have spread terror and violence – including gang rape and child abduction – through the rest of the population."

I see no very obvious problem with the countries which mostly consume such goods - with the co-operation of the poorer countries - simply telling companies that we don't want none of that **** happening in the supply chain if they want to sell their products here. And of course they do want to sell their products here, and bringing up the standards a little will rarely be a crushing blow to their business model (nor should we mourn if it's such an atrocious business that it would sink them!). Even a fraction of the standards upheld in consumer countries will often be far better than would otherwise be the case. For example India ranks 69th (out of nearly 200) countries for monthly average income of wage-earning individuals; yet if Indian employees of a company trading in the US were required to receive a mere quarter of the US $7.25 federal minimum wage, they'd be earning above average wages (even if they only worked 40 hours a week). In fact they'd be earning far above average, because those figures for India are in terms of purchasing power, not the direct conversion rate.

Companies would still save plenty of money by using the cheaper labour in poorer countries, thereby stimulating those economies. But instead of the existing race to the bottom, and the perpetual fear for any country to unilaterally improve their standards because so many jobs might move elsewhere, we'd see the standards to which consumers in the rich world are accustomed pulling up standards in the supplier countries (quite possibly with a follow-on effect even in local companies and industries which aren't international traders).

 

[Gonzo Rodeo]

Minimum wage advocates would be sad to find out a global minimum wage would probably be less than a dollar an hour.

 

[Renae]

Is global minimum wage a good idea or not?
And why?

Comrade, when the workers rise up and shake off their capitalist masters with the guidance of good true Marxist and the world falls under the inevitable sway of global Communism the world workers paradise will be GOOD THING! The political elite will benevolently guide the efforts of humanity and rush in a new era of glorious excellence for all!


/smh :roll:

 

[Renae]

I do not believe it is true that we do not have a place to start, Piketty suggested Europe in hos book "Capital in The Twenty-first century" where Living standards are fairly similar.

I Guess The idea is that The Nations would adjust to Their new median income and raise Their spending, which kickstarts what is often referred to as The good cycle: more spending -> more production -> more jobs -> more tax income -> more Education and so on..

What do you Think Of that?

If you're reading Picketty, you really aren't reading anything worth a ****. That idiot is a moron.

 

[LagerHead]

The problem with a global minimum wage (More accurately a living wage) is that we have countries where the people live on a dollar a day which is less than one hour's work at minimum wage here in America and no global authority to enforce such an idea to begin with. The Capitalists will give you the usual line of BS, that the free market determines the value of a job or that the victim ...er employee, negotiated his compensation. It's pretty hard to "negotiate" even $5/hr when a corporation can just move its operations to a country where someone else will "negotiate" $5/week for the same job. Free Trade agreements are not about trade they are about exploiting labor. A return to tariffs to protect the more evolved civilization's workers is probably the best it could get. Global anything without a global authority is a bad idea and IMO globalization is a bad idea as well.

This is false on its face. If they were going to do that, setting a minimum wage would cause them to do it even faster, yet we don't see it as a result of this. The only countries that have seen people lifted out of severe poverty are capitalist countries. Never happens in socialist ones. Never.

 

[CPS01]

The problem with a global minimum wage (More accurately a living wage) is that we have countries where the people live on a dollar a day which is less than one hour's work at minimum wage here in America and no global authority to enforce such an idea to begin with. The Capitalists will give you the usual line of BS, that the free market determines the value of a job or that the victim ...er employee, negotiated his compensation. It's pretty hard to "negotiate" even $5/hr when a corporation can just move its operations to a country where someone else will "negotiate" $5/week for the same job. Free Trade agreements are not about trade they are about exploiting labor. A return to tariffs to protect the more evolved civilization's workers is probably the best it could get. Global anything without a global authority is a bad idea and IMO globalization is a bad idea as well.

You're not going to negotiate this with the corporations :lol:
This would be enforced, not necessarily by a global authority - but by the governments.
I'm pretty sure Bangladesh, India and China will be happy to raise their minimum wage - and I'm sure that the more developed western countries will appreaciate that their consumer markets purchasing power increases dramatically.

Of corse, this would need to be phased in - as 1 USD is not worth the same in all countries at the moment. However, if you set a date, people/corporations/etc. would have the necessarry time to adjust their prices to the new economy.

So the retards arguing that the new minimum wage will be about 1$ - this will of corse mean the initially mean that people in developed countries will experience a loss of living standard - but ONLY compared to those of the less developed countries.

This is bad for the rich, and good for the poor. That's what makes it righteous.

 

[CPS01]

If you're reading Picketty, you really aren't reading anything worth a ****. That idiot is a moron.

What a convincing argument. :roll:

 

[Renae]

What a convincing argument. :roll:

You think the guy is smart, you read is updated version of marx and thought he was on to something. not really gonna waste time dissuading a lost cause.

 

[CPS01]

For whom?

The human population of the planet earth.

 

[CPS01]

not really gonna waste time dissuading a lost cause.

(Written while wasting time dissuading a lost cause) :lol:

 

[LagerHead]

The human population of the planet earth.

How so? Because it's done such a tremendous job of lifting people out of poverty here? Oh wait, no it hasn't.

 

[CPS01]

How so? Because it's done such a tremendous job of lifting people out of poverty here? Oh wait, no it hasn't.

Where is "here"?
I'm from Denmark, a country with strong unionizing - and we have One Of The most Rich and equal countries on Earth

 

[Renae]

Where is "here"?
I'm from Denmark, a country with strong unionizing - and we have One Of The most Rich and equal countries on Earth

Only as long as the population stays low and the oil flows.

 

[Neomalthusian]

The human population of the planet earth.

Some humans win and some humans lose.

 

[Neomalthusian]

Some humans win and some humans lose.

Where is "here"?

I'm from Denmark, a country with strong unionizing - and we have One Of The most Rich and equal countries on Earth

How's your cost of living?

 

[Mithrae]

You're not going to negotiate this with the corporations :lol:
This would be enforced, not necessarily by a global authority - but by the governments.
I'm pretty sure Bangladesh, India and China will be happy to raise their minimum wage - and I'm sure that the more developed western countries will appreaciate that their consumer markets purchasing power increases dramatically.

Of corse, this would need to be phased in - as 1 USD is not worth the same in all countries at the moment. However, if you set a date, people/corporations/etc. would have the necessarry time to adjust their prices to the new economy.

So the retards arguing that the new minimum wage will be about 1$ - this will of corse mean the initially mean that people in developed countries will experience a loss of living standard - but ONLY compared to those of the less developed countries.

This is bad for the rich, and good for the poor. That's what makes it righteous.

It'd mean that low- and eventually mid-wage workers in wealthy countries (hardly 'the rich') experience a loss of living standard compared to the wealthy of their own countries too. If you want to decrease minimum wages in wealthy countries you'll be looking to the far right wing for any hope of support. What does that tell you about your idea?

Many poor countries wouldn't favour the idea either. If one tin-pot dictator decides that he doesn't want his subjects so suddenly enriched and empowered, any neighbouring countries will be concerned that if they substantially raise their wages, jobs will go instead to the cheaper labour nearby.

Moreover many of the countries we're talking about have comparatively weak, ineffectual or corrupt governments to begin with. They'll likely have little power to enforce these standards against companies bribing a few officials to turn a blind eye to their practices. The onus needs to be on the companies themselves to match some fraction of the standards in the countries which provide their biggest markets.

 

[HenryChinaski]

Minimum wage advocates would be sad to find out a global minimum wage would probably be less than a dollar an hour.

However Business owners would be jumping for joy.

 

[Gonzo Rodeo]

However Business owners would be jumping for joy.

American ones. That amount is a crushing burden in some developing economies.

 

[beerftw]

Is global minimum wage a good idea or not?
And why?

no,the world has dramatic differences in cost of living,a global minimum wage would just ensure first world countries keep doing what they do while third world countries stay in the stone age.these countries become competitive through cheap labor,and build up their economies,which eventually raises wages and standard of living,with a global minimum wage,a non industrialized country has no foothold into a market.