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Originally Posted by pan6467
That's true, but what good is raising minimum wage when the CEO's and upper management just decide to outsource more jobs, layoff more people, and raise prices... then give themselves more perks and raises?
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Sometimes a high unemployment rate is necessary to slow inflation. CEOs take pay cuts and get fired too. It all depends on the company's performance and his or her own performance or willingness to "take it for the team." Not all CEOs are stereotypical old, white "fat cats."
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Unions helped stop that. Unions made sure that the workers got their share.
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Unions can only do so much during an economic downturn. Unemployment (via layoffs, etc.) can be unavoidable.
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However, unions got to powerful and to corrupt and needed limiting... but when we did that the CEO's and upper management then became too powerful, greedy and corrupt.
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There are laws and regulatory bodies. The problem isn't only in the infringement, it's also in the detection and enforcement.
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Now, we need to find a balance between the 2 or we will become a third world nation and if we become a third world nation, so goes all of the world and we enter a whole new feudal society/dark ages.
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I'm going to take a pass on this hyperbolic slippery slope.
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If we, here in America get our shit together and correct this NOW, we can set examples for the rest of the world. If we don't we show the rest of the world Capitalism fails and in the end this great society our forefathers built so proudly and with so much hope, will have died because we did nothing and our future generations will be left to wonder why.
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It isn't only up to America to do this. America isn't the only place to turn for leadership and for setting examples. Business is an international community. If we can't learn from each other, that will probably be one of the biggest reasons for failure. Capitalism only fails when it doesn't become regulated or reformed to help us deal with our greatest challenges. This is why I believe in mixed economies. I don't think America is doomed; the country has some of the most innovative and energetic people in the world. Perfect equality is an idealistic notion. Reasonable standards of living, however, are entirely achievable. This is what we should strive for. Eliminate poverty, not wealth.