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Regulating minimum income will put more people in the European union out of work. With globalisation we are competing against all other nations, that means if t

by acd 13y ago

Regulating minimum income will put more people in the European union out of work. With globalisation we are competing against all other nations, that means if the minimum wage is higher in EU the jobs will move to some developing country with no regulation on minimum pay. So people cannot long term have minimum wage regulation in the EU and then go and buy cheap products imported from countries with no such rules and then expect to keep their income/purchase parity in the long term. Otherwise we will just under produce, the state will have more support burden, we will come under debt, we will then be owned by the bank owners who usually are always there as state lenders. Then we will be taxed for this by inflation as the state create new money to pay of the creditors, stealing from the savers. People should read the book "Economics in one lesson" - highly recommended Chapter: Minimum Wage Laws What we really need todo is to abolish fractional reserve banking and central banks. The really rich likes socialism as that makes the state come under more debt which is good for them as they are the lenders. We cannot have capitalism based on ever increasing debt, saving the bad banks and the bad debt. In nature most exponential growth systems indicate a disease such as cancer, thus we cannot have a financial system based on exponential growth in a world with linear resources.

gonnakillme 13y ago
Might want to look again -- this isn't about a higher minimum wage, this is about an unconditional basic income. (That being said, the link doesn't have a lot of context.)
btilly 13y ago
Exactly the opposite. The idea of basic income is that everyone has a minimum stipend from the government. But if you have that, then there is no need to require that jobs pay you enough to keep you alive, and therefore there is no need to have a minimum wage. Which in theory would be a boon to employers who can now pay employees less. That is why the concept is supported by economically knowledgeable libertarians such as Milton Friedman. See http://en.wikipedia.org/wiki/Basic_income_guarantee#Advocacy_by_Libertarians http://en.wikipedia.org/wiki/Basic_income_guarantee#Advocacy... for confirmation of that.
lclarkmichalek 13y ago
Come on, don't imply that the debate over a correlation between the minimum wage level and unemployment is a closed case. I mean, from the wikipedia article (http://en.wikipedia.org/wiki/Minimum_wage#Empirical_studies http://en.wikipedia.org/wiki/Minimum_wage#Empirical_studies): "Economists disagree as to the measurable impact of minimum wages in the 'real world'.". There have been studies that support your point, but there have also been studies that don't. On a side note, this is why I'd recommend anyone looking to learn something in a different field to read at least 2 books from different authors, lest the authors of a single book agree with themselves too much.

by acd 13y ago

gonnakillme 13y ago

Might want to look again -- this isn't about a higher minimum wage, this is about an unconditional basic income. (That being said, the link doesn't have a lot of context.)

btilly 13y ago

Exactly the opposite. The idea of basic income is that everyone has a minimum stipend from the government. But if you have that, then there is no need to require that jobs pay you enough to keep you alive, and therefore there is no need to have a minimum wage. Which in theory would be a boon to employers who can now pay employees less. That is why the concept is supported by economically knowledgeable libertarians such as Milton Friedman. See http://en.wikipedia.org/wiki/Basic_income_guarantee#Advocacy_by_Libertarians http://en.wikipedia.org/wiki/Basic_income_guarantee#Advocacy... for confirmation of that.

lclarkmichalek 13y ago

Come on, don't imply that the debate over a correlation between the minimum wage level and unemployment is a closed case. I mean, from the wikipedia article (http://en.wikipedia.org/wiki/Minimum_wage#Empirical_studies http://en.wikipedia.org/wiki/Minimum_wage#Empirical_studies): "Economists disagree as to the measurable impact of minimum wages in the 'real world'.". There have been studies that support your point, but there have also been studies that don't. On a side note, this is why I'd recommend anyone looking to learn something in a different field to read at least 2 books from different authors, lest the authors of a single book agree with themselves too much.