No. Wages are down and prices are increasing. How much did you pay for gas the last time you filled up?
Labor is a fraction of the cost of goods. Lower wages just make everybody poorer, except the capitalists at the very top.
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The price level overall would be lower, most likely.
the big thing we gain from this is the lack of ability for people to bitch about social services. if everyone is participating then none should mind sharing
If I could pay the China wage in US cities, poverty would disappear.
Many of the poor in inner cities aren't worth hiring even if they worked for free.
the big thing we gain from this is the lack of ability for people to bitch about social services. if everyone is participating then none should mind sharing
How much did you pay for gas the last time you filled up?
Many of the poor all over our entire country aren't worth hiring even if they worked for free. People in third-world countries work very hard because they appreciate the opportunity; their options are working just as hard for less return, often to the point of having no expectation that basic requirements of food and shelter will be met, let alone wants. People in this country have the expectation that the safety net can become a hammock if needed; we simply won't work as hard because the consequences of not working as hard aren't nearly as dire. That's bad, but it doesn't make third world economies worthy of envy or emulation.Many of the poor in inner cities aren't worth hiring even if they worked for free.
Yes, I have heard this.
but really, it's the only way to revitalize those areas IMO. Especially since they're so close to major markets (i.e. prosperous suburbs full of Walmarts and Targets)
No. Wages are down and prices are increasing. How much did you pay for gas the last time you filled up?
Labor is a fraction of the cost of goods. Lower wages just make everybody poorer, except the capitalists at the very top.
If people have less money to buy good with...where do those at the top get their money?
Theoretically, areas with super high unemployment rates should not exist, since when employment goes down, wages go down and thus attracts employers who need low wage workers.
but there are areas of the US which have entrenched high poverty and unemployment rates. Meaning that they are not worth paying minimum wage to.
Low-paid work is better than no work IMO, especially since once you get a base of low wage industry the region can become a supply hub and eventually move up. Much like how many countries in asia started off as low wage assembly countries and then moved up to higher value.
They get it the old fashioned rich way, investments.
Once you're rich, it easy to stay rich unless you're a dumbass or have extrememly bad luck.
actually since productivity is higher in the US per worker than in china, we need not necessarily pay the 'china' wage to provide a better cost-benefit proposition for the international companies to come and bring those jobs back home.
it can be argued however, if you pay less than minimum wage (7.25 currently) that the productivity would go down. but if you knock down the 7.25 barrier, then companies can see the benefit of cheaper labor to compete with china, along with an advantage of having goods produced domestically rather than having to worry about logistics issues and costs.
actually since productivity is higher in the US per worker than in china, we need not necessarily pay the 'china' wage to provide a better cost-benefit proposition for the international companies to come and bring those jobs back home.
it can be argued however, if you pay less than minimum wage (7.25 currently) that the productivity would go down. but if you knock down the 7.25 barrier, then companies can see the benefit of cheaper labor to compete with china, along with an advantage of having goods produced domestically rather than having to worry about logistics issues and costs.
On this point, the US wouldn't have to actually match the China wage of a buck or two an hour, since you wouldn't have to worry about time delay or international shipping or customs or any other logistical problems.
But at the same time apparently the US min wage is too high right now to encourage bringing such jobs back.
Also, as a side note, actually Chinese workers are probably more trained and more efficient at manning factory lines than are US workers. The difference is that in the US things tend to become highly automated.
I know someone who tried to have something made in the USA, like a custom piece of apparel for a cultural subgroup. He found that not only was China better on price, they were better on quality as well, since they had more practice than the US.
someone else said that you can have high barriers and high regulations or low barriers and low regulations (including min wage). True. Which is why I said if you paid a decent wage to someone making a pair of khakis in the US the khakis would end up costing like 5x what you see in Target. but right now what you do get are low barriers and uneven regulations like the min wage, which results in pockets of poverty.
As a rule, always be very suspicious of someone who does something with an obvious reason (e.g. getting manufactured product much more cheaply) while claiming he's doing it for a different reason. There are few if any products in which China actually produces a superior product than can the USA.On this point, the US wouldn't have to actually match the China wage of a buck or two an hour, since you wouldn't have to worry about time delay or international shipping or customs or any other logistical problems.
But at the same time apparently the US min wage is too high right now to encourage bringing such jobs back.
Also, as a side note, actually Chinese workers are probably more trained and more efficient at manning factory lines than are US workers. The difference is that in the US things tend to become highly automated.
I know someone who tried to have something made in the USA, like a custom piece of apparel for a cultural subgroup. He found that not only was China better on price, they were better on quality as well, since they had more practice than the US.
someone else said that you can have high barriers and high regulations or low barriers and low regulations (including min wage). True. Which is why I said if you paid a decent wage to someone making a pair of khakis in the US the khakis would end up costing like 5x what you see in Target. but right now what you do get are low barriers and uneven regulations like the min wage, which results in pockets of poverty.
It's not just labor, although that's a big part of it. Another big part is the lack of regulation. If you want to use the best lubricant (lead) for your presses, just do it. No worrying about where the excess goes, no environmental study required, just do it. Want to use 1950s technology for your 2011 plant? No problem, just pump that carcinogen-filled smoke into the atmosphere. Part of China's success has been its rapid integration of our technology, but most of it are things we shouldn't want to emulate.In the 1970s, wages were higher, we still manufactured things in America, and people could buy khaki pants.
You know, maybe it's better to make clothes in China. But why are $400 graphics cards being built in China? The labor cost savings is miniscule as a percentage of the final price. I guess this is what happens when you have a race to the bottom in prices. They used to be made in Taiwan, but manufacturers just had to squeeze out a few extra cents of profit. Does Korea even make electronics anymore, or has Samsung moved its operations to China? Remember when "Made in Japan" was a thing? What do they make there anymore besides cars and hentai?
In conclusion, fuck China and whatever financial shenanigans they use to keep their wages so low and screw workers worldwide.
It's not just labor, although that's a big part of it. Another big part is the lack of regulation. If you want to use the best lubricant (lead) for your presses, just do it. No worrying about where the excess goes, no environmental study required, just do it. Want to use 1950s technology for your 2011 plant? No problem, just pump that carcinogen-filled smoke into the atmosphere. Part of China's success has been its rapid integration of our technology, but most of it are things we shouldn't want to emulate.
Right.
There was a study that showed that even though Great Britain was carbon neutral and so forth, if you took into account CONSUMPTION then Britain's carbon output had gone up quite a bit.
That is, if you want to have a clean earth and good fair standards, you should also be prepared for dramatically more expensive stuff in general.
Price might be the point, but seriously, if people aren't in an industry, their skills deteriorate. If khakis aren't being made in the USA, of course people forget how to make them.
Interestingly, for my friend 1000 units cost $1 each (minimum 1000 order) and $1000 to ship to the USA.