I seriously doubt the cost of living would magically go down at least here in America if this was adopted, all this would do is make it impossible for folks to afford the stuff they have right now.  These companies are accumstomed to getting the same amount for utilities and services, this stuff would become luxury and even go up in priice.  We'd have a ton of cheap housing projects / council estates popping up near factories, crime would rise, worker suicides would rise.  Hell this is happeneing in China right now.

If they could do better... woouldn't they probably be a CEO somewhere?  The world of Ceos are pretty cuthroat and always looking for the next big guy.

It's not what you know but who you know.

You don't need to know shit if you can get others to do it for you.

That's just not true.  I mean, these are people literally hired by their shareholders... to make them money.

There are jobs where who you know helps... CEO isn't one of them.  It's one of the most competitive fields out there.

Nepotism is usually only in jobs that anyone can do, and who's jobs aren't that important to the overall bottom line.  That's why there is so much nepotism in government jobs.

Well... that is outside companies who's CEOs holds a commanding stock advantage anyway... however, they're going to make themselves CEO because well... they trust themselves more then anyone else and want to run the company, and they'll make their kid an executive, because he's going to be the one who inherents the company from him.

People like that would just move their corporate headquarters overseas.

In the U.K, the minimum wage was introduced in 1998 and the only recession we have had since was the recent 2008-2010 downturn, which was deeper than the recession in the 1970's, 1980's or early 1990's.  Yet despite this, unemployment has never reached the levels seen during the Thatcher years.

In fact, using the Labour Force Survey the only years where Q4 2010 unemployment were higher than those of Thatcher's premiership were during the 'Lawson Boom', probably the U.Ks biggest consumer postive output gaps in recent history.  If we use the Claimant Count method, recent unemployment is much lower than it was before the National Minimum Wage, despite a deeper recession and approaching Gov spending cuts.

Kasz216 said: scottie said: As an addependum to the whole 'getting your facts right when trolling' thing, your entire premise is incorrect.   There is no correlation between lack of a fair minimum wage and employment rate.                                                                                   Unemployment rate (%)  Zimbabwe 95.0 2009 (June)[130]  Nauru 90.0 2004[3]  Liberia 85.0;[77] 88% among young Liberians[78] 2009 (July)  Vanuatu 78.21 1999[124]  Turkmenistan 70.0 2008 (November)[117]  Cocos (Keeling) Islands (Australia) 60.0 2000[3]  Mozambique 60.0 2009  Tajikistan 60.0 2008 (August)[112]  Djibouti 59.0 2007[3]  Namibia 51.2 2008[3   Zimbabwe has no minimum wage Naura has no minimum wage Liberia (minimum wage 20 US cents/hour) I could go on, but there is no point, you and I both know that your argument is bogus.   Fact is, minimum wage and unemployment benefits give people disposable income, which they spend on products and services. In order to sell these products and provide these services, more people need to be employed, reducing unemployment. Unions and minimum wage are required to reduce unemployment. Let's raise Zimbabwe's minimum wage to 15.50 USD. Lets see how much better employment gets... This is the silliest use of statistics i've seen in a while, i can only hope your not being serious.

Its a lot easier to call someone's argument silly than to expose how ridiculous and limited your own understanding is.

I am only correcting your numbers, Check my first post in this thread and you saw I was against lower minimum wages aswell. And the child labor is a cultural thing;..  Go to your local Chinese restaurant owners and their children probably will work in the restaurant even if they are 12 years old (or younger).  I would have felt horrible if I did not the same when I was younger on the field with my parents..  And watch out with those (older) documentaries.  Some tourists who are trying to find a place where you can eat cats/Dogs are surprised that the police arrest them for it because it is illegal... While their are probably still documentaries going around on National Geographic where they say it is legal to do it...

ManusJustus said: Kasz216 said: scottie said: As an addependum to the whole 'getting your facts right when trolling' thing, your entire premise is incorrect.   There is no correlation between lack of a fair minimum wage and employment rate.                                                                                   Unemployment rate (%)  Zimbabwe 95.0 2009 (June)[130]  Nauru 90.0 2004[3]  Liberia 85.0;[77] 88% among young Liberians[78] 2009 (July)  Vanuatu 78.21 1999[124]  Turkmenistan 70.0 2008 (November)[117]  Cocos (Keeling) Islands (Australia) 60.0 2000[3]  Mozambique 60.0 2009  Tajikistan 60.0 2008 (August)[112]  Djibouti 59.0 2007[3]  Namibia 51.2 2008[3   Zimbabwe has no minimum wage Naura has no minimum wage Liberia (minimum wage 20 US cents/hour) I could go on, but there is no point, you and I both know that your argument is bogus.   Fact is, minimum wage and unemployment benefits give people disposable income, which they spend on products and services. In order to sell these products and provide these services, more people need to be employed, reducing unemployment. Unions and minimum wage are required to reduce unemployment. Let's raise Zimbabwe's minimum wage to 15.50 USD. Lets see how much better employment gets... This is the silliest use of statistics i've seen in a while, i can only hope your not being serious. Its a lot easier to call someone's argument silly than to expose how ridiculous and limited your own understanding is.

So your saying you don't find it silly, that he's citing extremly poor outlier countries to make a giant point about economies as a whole and western nations?

Talk about a limited understanding.

I think it only effects employment when it's artificially high and not around what people would be getting paid anyway.  Outside that it's just hurting teenage employment and in general lowering pressure on job creating intervals as people are paid a living wage doing traditionally teenagers jobs... also that minium wage is just kinda there... raising it actually isn't going to fight poverty any... since those costs are likely going to be laid largely on the poor as well.

If you want to help the poor, you'd look to raise the minium wage needed to be earned to pay taxes.  Of course that would be a tax cut.  Not exactly the best thing to do when your government is already runnig huge deficits.

Though it's worth noting that I disagree with the majority of experts who all think minium wage does minorly hurt all unemployment.

http://en.wikipedia.org/wiki/Minimum_wage#Surveys_of_economists

Support from economists for raising the minium wage actualy being inspite of unemployment not because of it. 

Really if you ask me, Minium wage is just that... a non factor outside of some teenagers losing jobs.

well unless you raised it to absurd levels like $25.00 and hour or something.

Kasz216 said: scottie said: As an addependum to the whole 'getting your facts right when trolling' thing, your entire premise is incorrect.   There is no correlation between lack of a fair minimum wage and employment rate.                                                                                   Unemployment rate (%)  Zimbabwe 95.0 2009 (June)[130]  Nauru 90.0 2004[3]  Liberia 85.0;[77] 88% among young Liberians[78] 2009 (July)  Vanuatu 78.21 1999[124]  Turkmenistan 70.0 2008 (November)[117]  Cocos (Keeling) Islands (Australia) 60.0 2000[3]  Mozambique 60.0 2009  Tajikistan 60.0 2008 (August)[112]  Djibouti 59.0 2007[3]  Namibia 51.2 2008[3   Zimbabwe has no minimum wage Naura has no minimum wage Liberia (minimum wage 20 US cents/hour) I could go on, but there is no point, you and I both know that your argument is bogus.   Fact is, minimum wage and unemployment benefits give people disposable income, which they spend on products and services. In order to sell these products and provide these services, more people need to be employed, reducing unemployment. Unions and minimum wage are required to reduce unemployment. Let's raise Zimbabwe's minimum wage to 15.50 USD. Lets see how much better employment gets... This is the silliest use of statistics i've seen in a while, i can only hope your not being serious.

I'm pretty sure he's being totally serious, but if you simply look at the original thread and compare it to his statistics, it points out how blatantly incorrect the original post is, as some of those African countries he referred to as having lower minimum wage and lower unemployment isn't always correct.

Baalzamon said: Kasz216 said: scottie said: As an addependum to the whole 'getting your facts right when trolling' thing, your entire premise is incorrect.   There is no correlation between lack of a fair minimum wage and employment rate.                                                                                   Unemployment rate (%)  Zimbabwe 95.0 2009 (June)[130]  Nauru 90.0 2004[3]  Liberia 85.0;[77] 88% among young Liberians[78] 2009 (July)  Vanuatu 78.21 1999[124]  Turkmenistan 70.0 2008 (November)[117]  Cocos (Keeling) Islands (Australia) 60.0 2000[3]  Mozambique 60.0 2009  Tajikistan 60.0 2008 (August)[112]  Djibouti 59.0 2007[3]  Namibia 51.2 2008[3   Zimbabwe has no minimum wage Naura has no minimum wage Liberia (minimum wage 20 US cents/hour) I could go on, but there is no point, you and I both know that your argument is bogus.   Fact is, minimum wage and unemployment benefits give people disposable income, which they spend on products and services. In order to sell these products and provide these services, more people need to be employed, reducing unemployment. Unions and minimum wage are required to reduce unemployment. Let's raise Zimbabwe's minimum wage to 15.50 USD. Lets see how much better employment gets... This is the silliest use of statistics i've seen in a while, i can only hope your not being serious. I'm pretty sure he's being totally serious, but if you simply look at the original thread and compare it to his statistics, it points out how blatantly incorrect the original post is, as some of those African countries he referred to as having lower minimum wage and lower unemployment isn't always correct.

Well if your talking about Numonex... he's not being serious.  Numonex is an extreme leftwing guy who finds it fun to occasionally pretend to be a strawman rightwing guy because he finds it funny when people somewhat agree with him to simply fight against what would be one strawman arguement filled with a bunch of people disagreeing with him, making the opposiing viewpoint look right. 

That is, in this case... lowering the minium wage wouldn't help employment.  (Which, honestly it probably wouldn't, government has shown that even when pressured too, it doesn't know how to create jobs.)

Not getting the facts right is the entire point.