DBT
Contributor
The presence of an ever growing class of people in society who feel marginalized, underpaid, struggling to make ends meet, feeling unable to ever satisfy their own needs and wants, are a threat to the cohesion of that society.
People are buying cars--just not GM cars. The quality isn't there.
I agree - partly. People ARE buying GM cars, just not the Chevy Cruz. They shouldn't have named it after Lyin' Ted!
OTOH, I also agree with Henry Ford, who observed that if he paid his own workers enough, they could buy his product.
I think manufacturers have turned a blind eye to that principle, because none of them alone has the effect on total national wage rates that the auto industry did at its inception.
There is a need for these job-seekers today especially. There could be a quick orderly process to take most of them in and allow them to contribute to the U.S. economy. But because of Left-wingers like Bernie Sanders and Thom Hartmann, who preach against cheap labor, and Right-wingers like Sean Hannity and Laura Ingraham who pander to nativists, especially to labor union nativists, and preach the Marxist slogans against cheap labor, these jobs go unfilled, and government raids are conducted against 7-11 and other employers of migrant (sometimes undocumented) workers.
Not sure how that follows.
Talking about the stagnation of wages for workers as the earnings and benefits of those at the top skyrocket is not preaching against cheap labor.
It is preaching against human greed and stupidity.
By keeping all increases for themselves instead of putting that wealth into the hands of people that will immediately spend it on goods the economy is less dynamic.
It is very stupid policy unless all you are governed by is greed and have no rational mind.
Cheap labour is good for business owners and shareholders, those on the top of the heap we call society.
For workers in that situation, too many workers competing for jobs, it may mean a race to the bottom, whoever is willing to work for less pay gets the job.
This situation makes it necessary to set a minimum wage rate in Law.
It's good for ALL consumers, because it puts downward pressure on prices we all pay. Including those at the bottom of the heap.
Right. Cheap labor is good for everyone. Except the cheap laborer.
But that's okay because . . .
. . . because we only need n many of them. Next decade, we need 2n of them... and eventually so many of them that, . . .
The presence of an ever growing class of people in society who feel marginalized, underpaid, struggling to make ends meet, feeling unable to ever satisfy their own needs and wants, are a threat to the cohesion of that society.
The presence of an ever growing class of people in society who feel marginalized, underpaid, struggling to make ends meet, feeling unable to ever satisfy their own needs and wants, are a threat to the cohesion of that society.
Right, so let's not impose unnecessarily-high costs onto them by driving up the cost of production, e.g., the labor cost, and thus increasing the cost of living to those struggling to survive.
Instead, let's take advantage of opportunities to hire cheap labor, e.g., immigrant labor, and other ways to keep down the production costs.
No, it's good for them too (or 99% of them). ALL consumers benefit from cheap labor, including all the wage-earners, who pay lower prices as a result of cheap labor.
Economics is not a science and . . .
. . . and there are theories of value other than supply and demand.
There are also ethical theories that do not reduce humans to terms of exchange in a market.
Not coincidentally, there is a degree of overlap between these two non-scientific conceptions of human activity.
I also agree with Henry Ford, who observed that if he paid his own workers enough, they could buy his product.
I think manufacturers have turned a blind eye to that principle, because none of them alone has the effect on total national wage rates that the auto industry did at its inception.
This is a lasting lie by the left.
Ford paid his workers more because his plants were harder and more dangerous work, if he didn't pay more he wouldn't get workers. Saying it was so they could buy his product is simply spin.
The workers who are a part of that pool of 'cheap labour' don't get to profit.
The workers who are a part of that pool of 'cheap labour' don't get to profit.
Good example of a falsehood, contradicted by verifiable objective facts, making "economics" in effect scientific, subject to verification and falsifiability.
It's obvious that those workers are consumers who also benefit from the lower prices. They can be observed as consumers in the market paying the same prices as everyone else, which prices are subject to the downward pressure from the lower production costs.
But they don't benefit from having less money to spend.It's obvious that those workers are consumers who also benefit from the lower prices.
But they don't benefit from having less money to spend.It's obvious that those workers are consumers who also benefit from the lower prices.
Lumpenproletariat, you give me the impression that you believe that consumers are some privileged class which deserves to get everything for next to nothing. You also fail to address the question of where consumers' money comes from. Lumpenproletariat, it's almost as if you believe that they pick it off of money trees.
Cheap labour is good for business owners and shareholders, those on the top of the heap we call society.
It's good for ALL consumers, because it puts downward pressure on prices we all pay. Including those at the bottom of the heap.
Those at the bottom of the heap sacrificing a part of their own lives, struggling to make ends meet, so that those who are . . .
. . . so that those who are better off, those at the top of the heap, get to pay lower prices for their goods and services, their . . .
. . . those at the top . . . get to pay lower prices for their goods and services, their Latte's and Smashed Avocado Toast?