What is "socialism"? - An attempt to clear up myths/misconceptions

[DonFerrari]

Leadified said:

DonFerrari said:

Most competent companies and leaders want and do compensate their workers fairly, and of course there are several studies showing the impact of wage over productivity and that it basically points out that underpaying take out productivity but overpaying have no sensitive positive impact on it. So companies pay the right amount to get the right motivation.

Except they don't, companies more often will pay you the minimum in order not to cut into profits. Case in point, take a look at the textile industry in countries like Bangladesh. Companies make record profits while their workers are basically slaves.

Work that can be easily substituted and that the government impose a minimum wage will move to places where they can do it, because in case you haven't forget customers also keep requesting smaller prices.