So What's Neoliberalism?

[Anna B 1,401]

18 minutes ago, El Cid said:

Perhaps if the minimum wage is seldom enforced, the likelyhood of it being doubled is zero. It has been said that our high minimum wage relative to other countries has attracted foreign labour here. If we increased the NMW by 50% and other countries did nothing, that effect would be made worse. People would be swimming the seas to get here.

You raise an interesting point, but surely in the first instance, that's up to other government agencies to prevent.

 

However one of the good things about globalization is that it could be used to raise things like finances to more eqitable levels everywhere and generally mprove things  for people. That would increase markets so everyone including businesses would benefit. It won't happen of course, it will go into the pockets of the already wealthy. 

 

[carosio 185]

How much do you think the minimum (or living) hourly rate should be?

[Anna B 1,401]

59 minutes ago, carosio said:

How much do you think the minimum (or living) hourly rate should be?

Enough to live on, pay bills, and buy essentials (including insurance which  will be necessary with everything being privatised,) and save a bit for pensions, rainy days and a bit of security etc. 

 

What that is these days, I don't know, but I'm sure it's more than the minimum and the living wage.

[ECCOnoob 1,013]

25 minutes ago, Anna B said:

Enough to live on, pay bills, and buy essentials (including insurance which  will be necessary with everything being privatised,) and save a bit for pensions, rainy days and a bit of security etc. 

 

What that is these days, I don't know, but I'm sure it's more than the minimum and the living wage.

That is meaningless.

 

Everyone seems to be an expert on this subject.  There is all the chanting and protest and articles and studies and statistics and self righteous opinions who all demand "...it's not enough...."   "...Its poverty...."  "...It's a disgrace..."  "...its slave wage..."   This is despite the fact that NMW hourly rate for the majority of working adults has increased over the past decade by over 40%.   The most recent increase this year alone was over 6%

 

So. How much then? What levels do those demanding actually and realistically expect? At what point do such demands cross the line into risks of pricing themselves out of the market?

 

 

Edited January 20, 2021 by ECCOnoob

[carosio 185]

Anna appears reticent to suggest a figure, bearing in mind that it ought to be a fundamental part of her admirable crusade for higher pay and a fairer society.

 

How about £12/hr, or is that too low?

[tinfoilhat 11]

1 minute ago, carosio said:

Anna appears reticent to suggest a figure, bearing in mind that it ought to be a fundamental part of her admirable crusade for higher pay and a fairer society.

 

How about £12/hr, or is that too low?

If you're thinking of finally wiping out the high Street, I'd say that's about right. 

[ECCOnoob 1,013]

Just to put a bit of real-world context to this debate. Taking an average full-time 25 + adult working current minimum wage the gross annual salary equates to just over £17,000 or roughly about £1,267 pounds per month after tax.

 

Even for those workers under 25 the most recent minimum rate equate to a take-home pay of between £1,020 and and £1,200 a month

 

Lower-income it may be... but poverty wage?

[carosio 185]

Tin foil hat     "If you're thinking of finally wiping out the high Street, I'd say that's about right." 

 

The figure I suggested was a guess as to what I thought  Anna's idea of a living/ minimum wage would be.

Edited January 20, 2021 by carosio

[El Cid 210]

Wage rises causes inflation, rises in minimum wages also means that the other workers wages will also increase to keep differentials.

The top bosses wages will also increase, so would a massive increase in minimum wage create a different world?

If change is wanted, then differentials between those at the top and the work-force must be pegged.

I am not advocating that, but it can work in some scenarios.

[tinfoilhat 11]

2 hours ago, carosio said:

Tin foil hat     "If you're thinking of finally wiping out the high Street, I'd say that's about right." 

 

The figure I suggested was a guess as to what I thought  Anna's idea of a living/ minimum wage would be.

I've no idea what Anna's ideal minimum wage is. I know asda could pay £12 an hour. Companies - big and small - closer to the edge couldn't stand a wage increase of a third. Pre covid, lots of high Street stores were struggling - business rate increases, pension increases, rent increases, minimum wage increases. Its not just one thing.

 

I'll wait for her ted talk. 

[nikki-red 306]

At the risk of repeating myself, if you can’t have a discussion/disagreement in a civil manner then please don’t post.

[Janus 28]

On 19/01/2021 at 20:05, Anna B said:

Good question. And sadly, I have to say I don't know the answer. 

This sort of trend could be a start.  Every mountain climbed starts with a small step.   However, allowing 10 years to implement seems way too much time.

'Unilever has said that by 2030 it will refuse to do business with any firm that does not pay at least a living wage or income to its staff.

It said it wanted to raise wages for people outside its own workforce in order to promote economic inclusion'.
https://www.bbc.com/news/business-55735108