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View Poll Results: Should minimum wage be abolished?

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  • Yes.

    10 18.52%
  • No.

    39 72.22%
  • I don't know.

    5 9.26%
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  1. #161
    Cheeseburgers freeeekyyy's Avatar
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    Quote Originally Posted by ScorpioINTP View Post
    They trim to skeleton crews now. Just ask my former co-workers. Now you do twice the work for the same pay after layoffs.
    What I was trying to say earlier, is if everyone does twice the work for the same pay, their pay is worth twice as much. Wealth doesn't disappear. When you increase productivity, which is what you're doing in that situation, you increase wealth.
    You lose.

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  2. #162
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    Quote Originally Posted by ScorpioINTP View Post
    They trim to skeleton crews now. Just ask my former co-workers. Now you do twice the work for the same pay after layoffs.

    Look the education system is a scam too in some ways. Its a filter for the workforce and now education is a "for profit" industry. You know, its like selling picks and shovels to the gold rush seekers. Just a product of capitalism. Education doesn't guarantee you a job. I have a college degree and it means bumpkiss right now. I know people who have masters degrees without jobs. There are just so many applicants for any given job they are forced to weed out.

    When times are good, they are begging for new employees...we are just in a deep recession. Its good for the execs though. It's really only the unemployed and people who defaulted on their mortgages that are feeling the pain. If you had a job the past 3 years, you would actually be able to buy more house than you could before the collapse.

    Just keep pluggin away. Remember, its not WHAT you know it's WHO you know. Unfortunately I don't know anyone.
    It is totally who you know.

    But being kind of smart or having certain skills can help, especially if you're an adaptable person.

  3. #163
    Senior Member ScorpioINTP's Avatar
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    Quote Originally Posted by freeeekyyy View Post
    What I was trying to say earlier, is if everyone does twice the work for the same pay, their pay is worth twice as much. Wealth doesn't disappear. When you increase productivity, which is what you're doing in that situation, you increase wealth.
    Wut? You increase wealth for the guy at the top maybe, but Joe the worker still makes the same wage. Its called transfering wealth, which is also what happens in stock market crashes.
    Type 6w5 sp/so/sx I think..I have not fully explored this and just discovered it.

  4. #164
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    Quote Originally Posted by ScorpioINTP View Post
    There was a reality show about this exact experience. It wasn't pretty. They sent these prissy spoiled chicks and a few guys too (middle, upper middle class I assume) to these third world countries to work for a few weeks. The working conditions were deplorable, wages were a joke. They all freaked out of course and wanted to go home. I only saw parts of two episodes and forget the name of the show, but I remember one was a rice paddy in vietnam and one was something in india. I'd love to see Athenian get on this show and watch.
    I know a few other members of the forum I'd like to put on that show, too.

  5. #165
    Protocol Droid Athenian200's Avatar
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    Quote Originally Posted by ScorpioINTP View Post
    There was a reality show about this exact experience. It wasn't pretty. They sent these prissy spoiled chicks and a few guys too (middle, upper middle class I assume) to these third world countries to work for a few weeks. The working conditions were deplorable, wages were a joke. They all freaked out of course and wanted to go home. I only saw parts of two episodes and forget the name of the show, but I remember one was a rice paddy in vietnam and one was something in india. I'd love to see Athenian get on this show and watch.
    Yeah? Well, I'd like to go on it and show you I could handle it better than those other people.

  6. #166
    Dreaming the life onemoretime's Avatar
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    Quote Originally Posted by freeeekyyy View Post
    What I was trying to say earlier, is if everyone does twice the work for the same pay, their pay is worth twice as much. Wealth doesn't disappear. When you increase productivity, which is what you're doing in that situation, you increase wealth.
    If everyone does twice the work for the same pay, you have the same amount of dollars chasing twice as many goods. With the glut of goods, prices start falling precipitously. With the reduction in prices, companies cannot afford to pay their workers at the same rate, so they cut both wages and jobs. Now, since fewer people are working, and for less, there is even less demand for those goods; i.e. even fewer dollars chasing those goods. So, companies are forced to drop prices again. With reduced revenues, another round of wage and job cuts ensue. And so on, and so forth.

    This is called an overproduction crisis leading to a deflationary spiral. It's what the last 80 years of fiscal and monetary policy have desperately tried to prevent.

  7. #167
    Cheeseburgers freeeekyyy's Avatar
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    Quote Originally Posted by ScorpioINTP View Post
    Wut? You increase wealth for the guy at the top maybe, but Joe the worker still makes the same wage. Its called transfering wealth, which is also what happens in stock market crashes.
    How does a dollar worth twice as much not increase the wealth of everyone making that dollar?
    You lose.

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  8. #168
    Cheeseburgers freeeekyyy's Avatar
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    Quote Originally Posted by onemoretime View Post
    If everyone does twice the work for the same pay, you have the same amount of dollars chasing twice as many goods. With the glut of goods, prices start falling precipitously. With the reduction in prices, companies cannot afford to pay their workers at the same rate, so they cut both wages and jobs. Now, since fewer people are working, and for less, there is even less demand for those goods; i.e. even fewer dollars chasing those goods. So, companies are forced to drop prices again. With reduced revenues, another round of wage and job cuts ensue. And so on, and so forth.

    This is called an overproduction crisis leading to a deflationary spiral. It's what the last 80 years of fiscal and monetary policy have desperately tried to prevent.
    I see wage cuts, but not jobs cuts. Wage cuts become irrelevant because the wages mean more, and jobs cuts from not having to pay as much doesn't even make sense.
    You lose.

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  9. #169
    Uniqueorn William K's Avatar
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    Quote Originally Posted by freeeekyyy View Post
    How does a dollar worth twice as much not increase the wealth of everyone making that dollar?
    And if the price of something that is beyond US control like say oil prices remain at the same dollar amount?
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  10. #170
    Cheeseburgers freeeekyyy's Avatar
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    Quote Originally Posted by William K View Post
    And if the price of something that is beyond US control like say oil prices remain at the same dollar amount?
    Oil prices aren't out of our control. We control them by buying or not buying oil at a particular price.
    You lose.

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