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Thread ID: 137976	2014-09-18 06:34:00	Economics 101	Terry Porritt (14)	PC World Chat

Post ID	Timestamp	Content	User
1384183	2014-09-19 04:57:00	By the principle of reciprocity, if minimum wages were lowered then we would expect to see all other wages and prices of goods and services decrease by the same percentage. In short the government gets less tax, but the people are if anything better off than they were...........................etc. :D No. I think the increased profits due to lower costs would just be pocketed, and only some would be better off. :thumbs:	Terry Porritt (14)
1384184	2014-09-19 05:01:00	Sorry, you haven't been paying attention. The way it is done by the Keyteam is to sell your employer's stuff, not your own. . Looking at it as in NZ sells NZs stuff. Like a household selling the households stuff. And Labour do it too.	pctek (84)
1384185	2014-09-19 05:24:00	Please understand this. If the minimum wage increases then so does the cost of everything else. All other wages would also have to increase by the same percentage (no way is an experienced person going to accept being paid at the same rate as a 16 year old just starting out}. All prices of goods and services would also increase by the same percentage ( the cash to pay increased wages has to come from somewhere). In short the government gets more tax but the people are if anything worse off than they were. It is all smoke and mirrors and although more pay sounds good the nett effect is no real improvement for anyone, minimum wage workers would still be just as badly off as they are now. Any political party pushing a rise in minimum pay is just exploiting those foolish enough to be sucked in to get their vote.so if we decrease the min wage, will goods get cheaper	plod (107)
1384186	2014-09-19 06:22:00	so if we decrease the min wage, will goods get cheaper Strangely enough, yes they would providing all wages/salaries were reduced by the same percentage. Goods and services are cheaper in low wage ecomomies. . My point was there is no gain for anyone by legislating for an unrealistic minimum wage, it just does not and cannot improve the lot of the working population.	CliveM (6007)
1384187	2014-09-19 06:29:00	Strangely enough, yes they would providing all wages/salaries were reduced by the same percentage . Goods and services are cheaper in low wage ecomomies . . My point was there is no gain for anyone by legislating for an unrealistic minimum wage, it just does not and cannot improve the lot of the working population . Increasing min wage would decrease the amount the government has to subsidise these people through accommodation allowances, family tax credits	plod (107)
1384188	2014-09-19 07:10:00	So, if we could have the serfs and peasants working for nothing (living on what they can glean from the unmown verges as they wend their way homewards) we should be able to get all our goods and services really cheap? Great! Let's have it right away. This would enable us to give positive tax credits to the gentry to enable them to get a good course of genteel finishing school completed prior to their knighthoods being issued by Kingkey and his squad of fine upstanding colleagues. Obviously since the peasants won't be suffering all those pesky health issues caused by overweight issues, the savings could be passed on as CEO bonuses from whence it will trickle down, bestowing posterity on all, Another major saving would be the total halt to redundancy and holiday payments since they would be tied to the minimum wage. Further, instead of paying out severance pay to non required ex-employees, the peasant could be sold to some other employer, boosting the economy to ever greater heights. No doubt about it, there's a great time coming, by and by.	R2x1 (4628)
1384189	2014-09-19 20:19:00	You know, way back when, Henry Ford increased the workers pay from $2.34 a day to $5 a day. There were screams from the board and shareholders, predicting doom to the company etc.... Henry said if they had money, they too could be consumers and buy cars, hence making the company better off. And it happened. Really most corporations now, it's fire the workers when things get a bit quiet, not cut the bloated CEO pay, or top managers pay.	pctek (84)
1384190	2014-09-19 22:28:00	You know, way back when, Henry Ford increased the workers pay from $2.34 a day to $5 a day. There were screams from the board and shareholders, predicting doom to the company etc.... Henry said if they had money, they too could be consumers and buy cars, hence making the company better off. And it happened. Really most corporations now, it's fire the workers when things get a bit quiet, not cut the bloated CEO pay, or top managers pay. That sounds about right to me. Increasing the minimum wage is a move to a fairer society. Isn't that what we want?	rumpty (2863)
1384191	2014-09-19 23:10:00	The question must be asked who is more efficient at producing goods, the government or private enterprise.	Cicero (40)
1384192	2014-09-20 00:38:00	That sounds about right to me. Increasing the minimum wage is a move to a fairer society. Isn't that what we want? Fords workers became more skilled and so deserved better pay than non skilled labour at the time. That has nothing to do with increasing pay across the board to every Tom Dick and Harry.	CliveM (6007)
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