Quote:
Originally Posted by RummyBoy
It's called being "well informed". It's also very common knowledge in the UK (ask anyone from there) and is often discussed in media & government reports. The government stats are also very clear on the matter.
Did I ever suggest that? I am simply saying that if you set a minimum wage, don't cry when some jobs go offshore.
Not in my mind... in REALITY. The problem is that more people vote for a living than actually work for a living and that is a reality that creates political support for parties which give more free handouts. That tends to increase the welfare state. Some metrics you might examine more closely:
(1) Which countries have the largest welfare states?
Answer: All the most indebted ones
(2) Which countries have the largest Debt/GDP ratios?
Answer: Many of them have the largest welfare states
(3) Which countries have the largest amounts of total debt?
Answer: Many of them have the largest welfare states
(4) Which countries have the largest deficits?
Answer: Many of them have the largest welfare states
You can also look at which countries have the highest "Foreign Currency Reserves" and you will find that they tend to be those countries which do not have large, over bloated welfare states, high regulation or high minimum wages. I am not saying a welfare state is not desirable but if you encourage the welfare state to grow to an unsustainable level, eventually it does so at the expense of prosperity. A minimum wage helps the welfare state to grow.
The metric that matters here is "GDP per capita" and the run down is as follows just to give you an idea of income per person, per annum from years of 2012/13 for four different countries:
US: $52,527
UK: $39,422
China: $6,684
India: $1,506
GDP per capita may be increasing in Asian countries but there is still a "MASSIVE" gap which makes outsourcing viable for the foreseeable future. I've taken an average of four reliable sources (IMF, World Bank, CIA & UN) in USD. For someone who talks about China and India have you been to either country for longer than one month? Without knowing, I seriously doubt you've even been there at all...
Sorry man, you just don't understand how an economy works and you're not the only one who has a problem facing facts. It's not a threat, its a reality - every institution of the state is funded by business & capitalism in one way or another and without them they "will fall".
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Then put some stats about the whole generations doing nothing, than living on "benefits".
You don't suggest paying same salary than they pay in India, etc., but you cry about minimum wage that is very low to begin with in western standards? What do you think will happen without minimum salary? If the point is not competing salary wise, then what the fuck is the point you are trying to make? In China the workers salaries are something like 2,5-3,5 $ per month, and you cry about 5 $ minimum wage, but you don't support paying what they pay in China etc. So again, what the fuck you suggest?
Also not all western countries have minimum wages, for examply my country hasn't. Still the situation is the same.
About the welfare states, pretty much none of the most in debt coutries are "welfare states" or at least the biggest ones. For example higly in debt US is not welfare state. Far from it.
About business, capitalism doesn't do shit; it's the trade that does. And you don't even get what I think, no even close, you think you know something and present assumptions based on your false imaginations. Also you funnily put business and state against each other. You don't seem to know that much about economy.