View Single Post
Old 08-31-2011, 10:10 PM  
gideongallery
Confirmed User
 
Join Date: Aug 2003
Posts: 7,082
Quote:
Originally Posted by CodeR70 View Post
In the long run the unemployment would only shift from one part of the world to another. Also, lowering the wages will not magically create new jobs. If a task cost 100 man-hours then that will not change if the wages change. It's still a 100 man-hour job. It's just cheaper.
you do realize that a 100 man hour job that would not be profitable at minimum wage CAN become profitable at $1/hour.

reducing the minimum wage would create jobs in that way.
__________________

“When crimes occur through the mail, you don’t shut the post office down,” Steve Wozniak
gideongallery is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote