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Thomas Humphrey

in recovery,

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what should minimum wage be?

i believe there is a gross imbalance of wealth in this world.

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    Mar 1 2013: If you have looked at the facts, there IS a gross imbalance of wealth in this world - mostly in the US and UK. It's not a matter of "belief". It's a matter of "fact".

    I don't care what you fix the minimum wage at. It will make no difference if you do not also fix the maximum wag.
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    Mar 1 2013: The minimum wage need sto be high enough to encourage people to get off welfare but low enough so that employers can afford to pay their employees. You can't change one without the other. Maybe the question should be what is the ideal ratio of available welfare to minimum wage?
    The implication being that if minimum wage is zero then welfare must be also be zero which has its own implications regarding homelessness and crime rates.
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      Mar 1 2013: The minimum wage simply drives the jobs out of the area that it is imposed the business owner either does with fewer employees or goes off shore.

      This is particularly hard on workers with no experience as the employer cannot afford to pay the higher wage for no skill. Entire areas become experience a dearth of jobs where there is no skill.

      Davis Bacon is another area where enforced minimum wage causes jobs to be exported from the area.

      This is not theory this is where the rubber meet the road, (an American saying) and how minimum wage REALLY effects the economy.
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    Mar 1 2013: The minimum wage creates a severe penalty on the areas that it is imposed.
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    Mar 1 2013: That there is an imbalance of wealth in the world is fact rather than belief. If you do an internet search for gini index, you will see measures of the distribution country by country.

    Perhaps most striking, though, is the comparison in access to basics such as food and shelter when you compare the situation of the poor in the United States and Western Europe on the one hand and India or Sub-Sahara Africa on the other.

    On the bright side, once Bono's TED talk that he delivered yesterday is up, we can see the tremendous strides that have been made in reducing poverty, HIV, and malaria and improving access to medical care and education in the countries with the greatest numbers of people living in poverty. Bono presented these data specifically because there have been tremendous gains, and research shows that people are inclined to be less generous when they believe that their support makes no difference. It does make a difference.
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      Mar 1 2013: The GINI index is specious. I could explain but you would not hear me...

      I wonder why Bono himself chooses to be stingy in giving? I guess it is all in that other people's money thing and all that socialists do so well...
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        Mar 1 2013: I have no idea of his personal generosity or lack thereof.

        If you explain something, I can assure you I will hear it. I am always interested in what you have to say and consider it carefully.
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          Mar 1 2013: Regarding Bono the simple reality is that he changed residence from Ireland to avoid high taxes.

          GINI is talking up income disparity. There were a couple of fellows from the mid 2000s
          Piketty and Saez who created the disparity meme.

          I can explain further but won't waste my time unless you indicate that you are still listening.
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        Mar 1 2013: If you consider it a waste of your time, I can look it up myself to spare you the effort. Thanks.
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          Mar 1 2013: I only consider it to be a waste time on most people as they don't hear what I'm saying.

          Did you find what you need?
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        Mar 1 2013: Thanks, Pat. I will look into it after work today. It's been an over-full week.
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    Feb 28 2013: minimum wage should be the world median

    (ps: not really, i just want people to finally contemplate the world as it is.)
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    Feb 28 2013: At the very least, Minimum wage should reflect the level of its implementation and adjusted for inflation.
    This will put minimum wage at $10.25.

    However, you would also want to consider factoring in productivity and technological advancements.
    If I remember correctly, it has doubled since approximately 1965.
    Edit/
    http://upload.wikimedia.org/wikipedia/commons/7/73/US_productivity_and_real_wages.jpg

    The whole system is a combination of 'broken' and 'outdated'.
    The wages don't reflect productivity, increases in GDP or national/business wealth and theres no natural redistribution of the increased generated wealth such as a progressive taxation level or increased employee income.

    The rich get richer and the poor get poorer.
    A reasonable minimum wage would go a long way.
    It would also boost consumer spending significantly, take 1/3 of the population out from the poverty line, allow more people to work less (and thus more people to be hired per company for alternative shifts).
    A series of studies done in isolated states also demonstrate no net loss of jobs or adverse effects, so theres really no reason not to increase it. (Ofcourse we both know that some select companies would, and probably have, lobbied the government to prevent it).