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Why don't we just set a minimum wage of £50/hour and make everybody wealthy?

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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

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Yep = and plenty of manufacturing jobs were lost, particularly in the old industries.

 

Yet we have NMW and record employment........

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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.

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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?

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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.

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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.:D

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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.:D

 

"Profits are unpaid wages".

 

Are unpaid wages not a "bad" thing?

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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.

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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" ?

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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.

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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" ?

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