unbeliever   10 #313 Posted October 28, 2015 Why don't we just set a minimum wage of £50/hour and make everybody wealthy? Share this post Link to post Share on other sites Share this content via...
TJC1   10 #314 Posted October 28, 2015 Countries do better economically when there is minimal government interference. The flaw with this approach is that it lacks social justice, but that's not a matter of economics. ---------- Post added 28-10-2015 at 20:55 ----------   Lending with interest. Can't have that. That's profit. Obviously unfairly confiscated from some worker somewhere.  Of course there can be profit, don't be stupid  ---------- Post added 28-10-2015 at 22:09 ----------  Why don't we just set a minimum wage of £50/hour and make everybody wealthy?  Why you think? Me thinks you've lost the argument Share this post Link to post Share on other sites Share this content via...
I1L2T3 Â Â 10 #315 Posted October 28, 2015 Yep = and plenty of manufacturing jobs were lost, particularly in the old industries. Â Yet we have NMW and record employment........ Share this post Link to post Share on other sites Share this content via...
TJC1   10 #316 Posted October 28, 2015 Were you around before the NMW? All I see now is it causing problems. I knew it would. I dislike the idea of it.  A living wage solves a lot of problems. Better than a high welfare low wage society  ---------- Post added 28-10-2015 at 22:12 ----------  Increased wage costs means that some companies will exit the market, job losses and reduced supply, increased cost, inflation and unemployment.  Some possible downsides, not even looking at the myriad of advantages. That's typical of your narrow minded view.  ---------- Post added 28-10-2015 at 22:14 ----------  Yep = and plenty of manufacturing jobs were lost, particularly in the old industries. It's a VERY brave plan by the Tories, and not one I'm convinced about.  ---------- Post added 28-10-2015 at 21:26 ----------   It doesn't matter how much they make now - if their costs increase to a level higher than their income, they will make a loss. It is not easy running a business to make a profit and provide security to all employed and pension funds etc invested in them.  If costs increase higher than income. I don't think that will happen in the majority of cases. They said a similar thing before NMW introduction. Share this post Link to post Share on other sites Share this content via...
unbeliever   10 #317 Posted October 28, 2015 Of course there can be profit, don't be stupid.  Not what you said.  ... Profits are unpaid wages. ...    Why you think? Me thinks you've lost the argument  Oh dear. Don't start with that tactic again. If you can't counter my argument, you can always just walk away.  If the government can mandate higher wages without damaging employment or the wider economy, why not set it high enough to really give people a comfortable lifestyle? Share this post Link to post Share on other sites Share this content via...
Justin Smith   10 #318 Posted October 28, 2015 Bearing in mind that the Tories, who are constantly banging on about the importance of cutting the deficit, are also finding money to reduce inheritance tax and bribe (the better off) housing association tenants to buy their house, of course it isn`t fair (or consistent) policy. Share this post Link to post Share on other sites Share this content via...
TJC1   10 #319 Posted October 28, 2015 Not what you said.      Oh dear. Don't start with that tactic again. If you can't counter my argument, you can always just walk away.  If the government can mandate higher wages without damaging employment or the wider economy, why not set it high enough to really give people a comfortable lifestyle?  Just ridiculous now, not even gonna counter a strawman argument. I have never said profit is bad and we or businesses can't make profits. So you need to think of another tactic sunshine. Share this post Link to post Share on other sites Share this content via...
unbeliever   10 #320 Posted October 28, 2015 Just ridiculous now, not even gonna counter a strawman argument. I have never said profit is bad and we or businesses can't make profits. So you need to think of another tactic sunshine.  "Profits are unpaid wages".  Are unpaid wages not a "bad" thing? Share this post Link to post Share on other sites Share this content via...
TJC1   10 #321 Posted October 28, 2015 Bearing in mind that the Tories, who are constantly banging on about the importance of cutting the deficit, are also finding money to reduce inheritance tax and bribe (the better off) housing association tenants to buy their house, of course it isn`t fair (or consistent) policy.  New labour are the culprits. Not tories.  ---------- Post added 28-10-2015 at 22:22 ----------  "Profits are unpaid wages". Are unpaid wages not a "bad" thing?  In your mind. I actually said more of the profits of mne should go somewhere else than private shareholders pockets. Share this post Link to post Share on other sites Share this content via...
unbeliever   10 #322 Posted October 28, 2015  In your mind. I actually said more of the profits of mne should go somewhere else than private shareholders pockets.   It's right there on the thread. I don't understand why you deny saying it,  Do you include pension funds in "private shareholders' pockets" ? Share this post Link to post Share on other sites Share this content via...
TJC1   10 #323 Posted October 28, 2015 It's right there on the thread. I don't understand why you deny saying it, Do you include pension funds in "private shareholders' pockets" ?  I've never said profit is bad. Trot on. Share this post Link to post Share on other sites Share this content via...
unbeliever   10 #324 Posted October 28, 2015 I've never said profit is bad. Trot on.  Fine. So you don't think "unpaid wages" are a bad thing.  Do you include pension funds in "private shareholders' pockets" ? Share this post Link to post Share on other sites Share this content via...