Is raising minimum wage nationwide a horrible idea?

[the2real4mafol]

-CraZed- said:

Your assertion that a capitalist economy is based on consumerism is strictly false. Capitalism is based on the private ownership of the means of production and distribution of goods, and the free exchange of goods and services under the motivation of profit. Capitalism is no more based on consumption than any other economic model. All economies rely on buying and selling.

Now American society at large might be based on consumerism (keeping up with the jonses, massive amounts of consumer credit and debt etc.) you could certainly make that argument but Capitaism? No.

We shouldn't have to "push" down wages they should naturally fall or rise to where they need to be through individuals making the decision for themselves on how much their time and energy is worth.

There are many reasons for hiring more labor if you can afford it besides the expansion of your business. It gives you a larger pool of workers with which to spread the work load, thereby ensuring you can cover lost days of productivity when another woker is sick or on leave. It allows you to keep operations open for longer periods of time or to not close shop at all. It eases work stress on employees thereby helping them to be more productive. It isn't simply about expanding.

Going to $15/hr is an arbitrary number with absolutely NO real data to support it being the silver bullet to end poverty or create equality or raise the standard of living for those who make minimum wage today. Because we have minimum wage laws we are doomed to repeat this cycle over and over and over again and all well have to show for it is a nation of millionares who still can't afford to buy a loaf of bread.

I'm a bit sceptical of minimum wage because as you say it is meaningless but also due to how the system is rigged, it will keep going higher and higher despite making no difference in long term. Mimimum wage shouldn't be needed nor should the welfare state be needed but part of me thinks its necessary only due to unfairness of capitalism and competition in general. Crony capitalist competition is forcing wages down as we are constantly told to compete with China and India etc. Why should we? I don't know the real answer but it's seems to me that advanced economies are being forced to compete with less advanced economies where labour is much cheaper. Good for them but bad for the millions of people who left to do little worthwhile. It's no good when nothing replaces the jobs that become outsourced out there. Thats partly why it silly when people call the unemployed lazy, they can't do much when there are too few jobs for them let alone create any for themselves. 

To be honest i can't tell what is better a true free market economy or something that replaces the capitalist based economy. I suppose it don't matter as long as i can do what i want in life. The problem i have with free market is that it assumes competition is good for everything, i don't think it is if its a particular industry like housing or health which people actually need.