4 ms·

Your view of the world is not cemented in reality. Go start and run a non-trivial business with lots of employees and international competition for ten+ years.

Your view of the world is not cemented in reality. Go start and run a non-trivial business with lots of employees and international competition for ten+ years. Come back and see what you'll think of these views then. You'll struggle to understand how it was possible that your views were so misaligned with reality.

js8 11y ago
> Go start and run a non-trivial business with lots of employees and international competition for ten+ years. Perhaps we could cut to the chase and you could tell me what am I supposed to learn from the experience? If it is the fact that the international competition causes wage race to the bottom, then I am already aware of that. And that's exactly the reason why minimum wage should be a law. Here's food for thought, too: How does Germany does it? Despite having high wages for decades, compared to the rest of the world, even in manufacturing, and recently adopting minimum wage, most Germans are employed, and there are many German companies out there. That I would like to have explained by someone with business experience.
- rorykoehler 11y ago
  Not to disagree with the premise of your comment but I can, at least partially, answer your question regarding Germany. Germany uses the weaker Eurozone countries to artificially deflate the cost of purchasing their exports. If the Euro was only based on the strength of the German economy their exports would be a lot more expensive. Whether or not this would reduce sales significantly or not is debatable but chances are it definitely wouldn't help.
- pink_dinner 11y ago
  The point is that it's not law everywhere, and never will be. At some point, the minimum wage will price unskilled labor completely out of the market. Companies now have 5 years to start automating these positions. The Internet made this possible. So many people love using adblock and sharing files for free.. and the same tactics are being used to outsource labor... and now government intervention is a good thing.
  - imtringued 11y ago
    Automation will happen anyway. I'd be happier with faster technological progress and some short term wage growth.
- rebootthesystem 11y ago
  Let me turn thing around then. Are you proposing there's zero value in having experience running a non-trivial business. Are you saying everything there is to learn about business can be had by reading a book, reading some stuff online and through observation? If that were the case all MBA's and all Economists would be the wealthiest people in the world. That this is not the case should make everyone reflect a bit. I take most everything I read from economists as total and utter bullshit. Including what they have to say in favor of high min wage. As a group their performance sucks. All they are good for is writing books nobody wants to read.

js8 11y ago

> Go start and run a non-trivial business with lots of employees and international competition for ten+ years. Perhaps we could cut to the chase and you could tell me what am I supposed to learn from the experience? If it is the fact that the international competition causes wage race to the bottom, then I am already aware of that. And that's exactly the reason why minimum wage should be a law. Here's food for thought, too: How does Germany does it? Despite having high wages for decades, compared to the rest of the world, even in manufacturing, and recently adopting minimum wage, most Germans are employed, and there are many German companies out there. That I would like to have explained by someone with business experience.

rorykoehler 11y ago
Not to disagree with the premise of your comment but I can, at least partially, answer your question regarding Germany. Germany uses the weaker Eurozone countries to artificially deflate the cost of purchasing their exports. If the Euro was only based on the strength of the German economy their exports would be a lot more expensive. Whether or not this would reduce sales significantly or not is debatable but chances are it definitely wouldn't help.
pink_dinner 11y ago
The point is that it's not law everywhere, and never will be. At some point, the minimum wage will price unskilled labor completely out of the market. Companies now have 5 years to start automating these positions. The Internet made this possible. So many people love using adblock and sharing files for free.. and the same tactics are being used to outsource labor... and now government intervention is a good thing.
- imtringued 11y ago
  Automation will happen anyway. I'd be happier with faster technological progress and some short term wage growth.
rebootthesystem 11y ago
Let me turn thing around then. Are you proposing there's zero value in having experience running a non-trivial business. Are you saying everything there is to learn about business can be had by reading a book, reading some stuff online and through observation? If that were the case all MBA's and all Economists would be the wealthiest people in the world. That this is not the case should make everyone reflect a bit. I take most everything I read from economists as total and utter bullshit. Including what they have to say in favor of high min wage. As a group their performance sucks. All they are good for is writing books nobody wants to read.