Quote:
Originally Posted by Charlatan
I think it is hard to disagree that if *all* workers were paid a better wage the world would be a better place... higher standards of living across the board.
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That model has been tried with a couple of different variations. For the most part Communism and Socialism has failed.
And if you were to just continue to raise the wages of those on the low end of the scale in the US, it would cause two things. First, inflation would kick in and eat up a huge portion of the increase. Second, companies in Asia, Eastern Europe, and other less developed lands would do the same work for less, causing the US jobs to be lost completely.
I work in industry and have watched this second effect happening over and over again in the last 15 years with my customers.