Why raising the min wage proved to be a very bad thing.

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[–]POOPCORN 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (10 children)

No matter what you do with the minimum wage at this point will not change anything.

There are too many people on the planet and they're just are not enough resources to feed everybody.

[–]Canbot[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (9 children)

That is absurd. There is more food than we can eat. Farmers in western countries are paid NOT to farm because there would be so much food it would collapse the markets.

Inflation has nothing to do with food. It is caused by central bank money printing and the min wage increase allowed them to spike inflation without sending the bottom rungs of the population into desperate poverty risking social unrest.

[–]POOPCORN 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (8 children)

I appreciate your opinion,

https://youtu.be/s3337cj4sJQ

[–]Canbot[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (7 children)

It's Haiti. The problem there is a desperately low average IQ with all the associated problems like lazieness and inability to plan or think critically.

If there were 1% as many they would still be eating dirt. They lack the ability to fish or farm. It is not relevant to western civilization. It does not indicate a food shortage reletive to the world.

This is like going to the prison in the richest country in the world and claiming that wealth causes crime. This is absurd.

[–]POOPCORN 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (6 children)

I find that every person on this website knows the answer to everything and he thinks everybody is either absurd or stupid or out of their mind or crazy or something and never wants to discuss anything he only wants to tell everybody how it all works.

Reality check.. there are food shortages in this world if there weren't for food shortages in this world than the people in Haiti would be delivered truckloads of rice and they would not be eating dirt.

Of course I'm sure you'll know why that's a stupid idea or opinion or you want to critique my sentence structure or something but guess what there are people starving to death in this world.

[–]Canbot[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (5 children)

than the people in Haiti would be delivered truckloads of rice

Who's responsibility is it to produce that rice and ship it over there to feed them? Who is supposed to organize and pay for the infrastructure, manpower, equipment, facilities to do that?

What happens next year when your pet population in hati explodes? Do you increase that effort 10 fold? What happens when it goes up another 10 fold? And another?

Sure there are lots of reasons that is a stupid idea, but frankly that is beside the point.

Your claim that people not taking on that stupid task is proof of a food shortage is completely illogical. Go to any local store and see for yourself that the shelves are fully stocked. How can the fact that half of that isn't being sent there be proof that it doesn't exist?

Go look up farm subsidies. Farmers are paid NOT to farm. How do you square that fact with your beliefs?

[–]POOPCORN 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

Instead of solving the problem of world hunger people like to argue about who's responsibility it is to deal with the problem.

The end result of this situation is that a few people in our world live on 200 ft yachts and they eat steak and shrimp while others starve to death and eat dirt.

Video: Viking princess super yacht

https://youtu.be/CThM0L2UpVM

[–]Canbot[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

Your solutions not only wont work, but will absolutely make things far worse. Marxist bullshit has caused more famines than anything else.

[–]POOPCORN 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

How would you solve all the problems that we're having right now?

[–]Canbot[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

I don't have a solution for colonizing Mars, but I know that jumping off a tall building is a bad solution that will only make things worse.

Imagine someone telling you that your plan to get to mars by jumping off a tall building is stupid and your response is " well then what is your solution?". I guess you don't really have to imagine it.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period. The law says: it is illegal, and therefore criminal, for anyone to hire anyone else below the level of X dollars an hour. This means, plainly and simply, that a large number of free and voluntary wage contracts are now outlawed and hence that there will be a large amount of unemployment. Remember that the minimum wage law provides no jobs; it only outlaws them; and outlawed jobs are the inevitable result.

All demand curves are falling, and the demand for hiring labor is no exception. Hence, laws that prohibit employment at any wage that is relevant to the market (a minimum wage of 10 cents an hour would have little or no impact) must result in outlawing employment and hence causing unemployment.

If the minimum wage is, in short, raised from $3.35 to $4.55 an hour, the consequence is to disemploy, permanently, those who would have been hired at rates in between these two rates. Since the demand curve for any sort of labor (as for any factor of production) is set by the perceived marginal productivity of that labor, this means that the people who will be disemployed and devastated by this prohibition will be precisely the "marginal" (lowest wage) workers, e.g. blacks and teenagers, the very workers whom the advocates of the minimum wage are claiming to foster and protect:

https://mises.org/library/outlawing-jobs-minimum-wage

[–]scornedandsedated 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

As wages increase, companies compenate by increasing product cost. It is the simplest equation.

Who suffers? People earning Minimum wage. Necessities become more expensive. People who are wealthy don't care if their grocery budget increases by 20%.

These stupid crusaders who believe that some day everyone will make a "living wage" have brain damage. They aren't 'finally getting corporate US to return wealth', they are forxing corporate US to replace them with kiosks and AI.

[–]Canbot[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

As wages increase, companies compenate by increasing product cost.

That is a factor but you have to be realistic about how big of a factor it is. No one decides the prices they set off of labor costs. They factor in ALL costs of doing buisness and labor is only a portion of that and often a tiny portion.

A much bigger factor is the cost of materials. When currency is devalued all the costs go up.

[–]scornedandsedated 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

the cost of materials. When currency is devalued all the costs go up.

Also true.

[–]MaiqTheTrue 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Materials are farmed, made and shipped by people, all of whom demanded more money.

[–]Canbot[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yes, and most of that is overseas.