5 ms·
Exactly. It's an economic *system*. Change X and there is impact not only on W and Y but perhaps also V and Z. So to say, "Look! We raised the min wage and peop
by chiefalchemist 3y ago
Exactly. It's an economic *system*. Change X and there is impact not only on W and Y but perhaps also V and Z. So to say, "Look! We raised the min wage and people earned more money. That's the bottomline", is naive at best.
Furthermore (re: California), increasing the min wage is not a fix for the housing supply and associated failed policies.
- DiscourseFan 3y agoMarx always emphasised the general law of capitalist accumulation: no matter what temporary victories a local population might win (wage increases, stable housing, free education and healthcare, etc.), as long as Capital continues to dominate the social world, people will always be enslaved to the conditions of the market, and every effort will be made to extract as much surplus value as possible, since its what produces the most productivity and profit in the capitalist system.