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So What's Neoliberalism?

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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 by carosio

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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.

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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. 

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

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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

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22 minutes ago, Janus said:

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

There are alot of big businesses who do pay more than minimum wage. Aldi are pretty good. 

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13 hours ago, El Cid said:

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.

Not necessarily. The video on page 7 of this thread speaks of what happened in Seattle USA when increasing the minimum wage substantially was tried. 

Watch the whole video for the full picture (a very informative 20 minutes that could change the way you look at things) but if you just want to see the bit relating to Seattle watch from about 10.40 or preferably 9. 10

Let us know what you think.

Edited by Anna B

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It's good if the M.W. can be raised without increasing inflation or putting some out of business.

 

I worked for a national retail company for 9 years and when I started there were about 50 on the payroll (at my branch), and wnen I left there were barely 30. You see this at supermarkets where the smaller ones run a skeleton staff, and the steady progression to self-service in the larger ones.

 

If say the M.W. is £10/hr, would this be the minimum that anyone doing a relatively unskilled job would be expected to charge as self-employed (?) Consider a pensioner who employs someone for a day to cut the hedges and weed the garden, the expected price would be £80 minimum for 8 hrs and if a firm were employed, the price would be higher with possibly VAT on top.

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On 20/01/2021 at 07:32, El Cid said:

   I watched some of it. Do you think the steep increase of the minimum wage of to now has helped?

I think the part where the guy explained the various effects of increasing wages was the relevant part.

 

'Workers   in up market restaurants could then afford to eat in those restaurants themselves'

 

Workers at Ford were then  able to afford to buy the cars they were making'

 

Greater earnings equals more tax revenues. Many gained.

 

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24 minutes ago, Janus said:

I think the part where the guy explained the various effects of increasing wages was the relevant part.

 

'Workers   in up market restaurants could then afford to eat in those restaurants themselves'

 

Workers at Ford were then  able to afford to buy the cars they were making'

 

Greater earnings equals more tax revenues. Many gained.

 

Its years since the policians used inflation as an excuse, but the media did follow their lead. In recent years we have seen an increase in the MW but more inflation would have been a good thing.

Perhaps the thought of increasing interest rates made them over cautious?

Its always a win/win scinario for people arguing for something, the reality is that the poor are helped by the benefits and tax system. A massive increase in the minimum wage would see that taken away.

Poverty is not our main problem, obesity, drugs, alcohol and lack of exercise etc. are.

 

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51 minutes ago, El Cid said:

Poverty is not our main problem, obesity, drugs, alcohol and lack of exercise etc. are.

Maybe, but that's for another thread really.

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22 hours ago, El Cid said:

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.

I think it's a good idea.

I think some charities and independent public sector organisations nowadays have wage ratios so for example a chief executive pay is pegged at 10 times of the lowest paid worker. 

There has been a shift in the consensus of opinion about income inequality. For example 20 years ago Tony Blair said he was unconcerned with the gap between those at the top and those at the bottom, but much more concerned that those at the bottom have enough so that they are able to keep body and soul together.

However, many  organisations, not least the IMF and OECD have in recent years highlighted how income inequality negatively impacts on economic growth and stability. Interestingly enough, income & wealth inequality itself  was associated with the factors which led to the economic crash of 2008. 

So change is happening not because of inherent unfairnesses of neoliberalism, but so the system doesn't collapse

 

Edited by Mister M

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