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Wow "technology does not put people out of work. Technology creates more jobs then it temporarily displaces. Government policies, taxation, and regulations put people out of work"
Technology does not increase the number of jobs and with the rise of autonomous cars we will see the largest rate of job loss.
"The goal of the minimum wage is to outlaw low paying jobs for the unskilled and inexperienced. The law, simply, says: it is illegal, and therefore criminal, for anyone to hire anyone else below the level of X dollars an hour. This means, plainly and simply, that a large number of free and voluntary wage contracts are now outlawed and hence that there will be a large amount of unemployment. Remember that the minimum wage law provides no jobs; it only outlaws them; and outlawed jobs ( unemployment ) are the inevitable result.
Remember this is the first version. As history will show with the CBO,500k lost jobs will be a conservative estimate with the revisions going higher and higher
And as we have seen with every raise in the minimum wage .. jobs have disappeared
I know the claims about the minimum wage but they make no sense. Prices aren't going to drop if we allow people to work for pennies. If we suddenly kill the minimum wage low wages workers aren't suddenly going to be able to pay their healthcare bills and provide for their family etc etc. what will happen is we will look more like China and Tawain and other low wage third world countries. I truly think the problem lies within the basic corruption of our society. We are not who we think we are. For too long we have acted favorably toward one group of citizens, while marginalizing others. The results are as you would expect them to be. The only solution to raise our society out of this period is to become a better society but their are people who wish to remain in power that will fight us the entire way.
Technology does not increase the number of jobs and with the rise of autonomous cars we will see the largest rate of job loss.
God not this fallacy again. The notion that automation destroys jobs has been disproven a thousand times, it has risen a thousand times out of its own ashes as hardy and vigorous as ever. This time, the government is not the sole coercive agent. The Luddite rebellion in early 19th-century England is the prime example.
Labor unions have succeeded in restricting automation and other labor-saving improvements in many cases. The half-truth of the fallacy is evident here. Jobs are destroyed for particular groups and in the short term. Overall, the wealth created by using the labor-saving devices and practices generates far more jobs than are lost directly.
Arkwright invented his cotton-spinning machinery in 1760. The use of it was opposed on the ground that it threatened the livelihood of the workers, and the opposition had to be put down by force. 27 years later, there were over 40 times as many people working in the industry.
What happens when jobs are destroyed by a new machine? The employer will use his savings in one or more of three ways:
(1) to expand his operations by buying more machines;
(2) to invest the extra profits in some other industry; or
(3) spend the extra profits on his own consumption.
The direct effect of this spending will be to create as many jobs as were destroyed. The overall net effect to the economy is to create wealth and even more jobs. We must remember that the short-term local effect is to destroy jobs. In some cases where this effect is major, special relief measures might be taken, but blocking the progress leads to stagnation and poverty. In this case, all four points of the Lesson must be borne in mind.
Prices aren't going to drop if we allow people to work for pennies.
As we see in China, where workers are paid about $3 a day, China exports to everyone because the prices for the goods that cheap labor makes is cheaper than everywhere else.
Who would work under those conditions? The reality is that today's technology destroys jobs and their is no replacement. China doesn't have minimal wage but their workers live in horrible conditions and have no rights. The Chinese people are suffering but since they have jobs they will be alright. You are nothing but a troll.
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[–] xklevin1 ago
Wow "technology does not put people out of work. Technology creates more jobs then it temporarily displaces. Government policies, taxation, and regulations put people out of work" Technology does not increase the number of jobs and with the rise of autonomous cars we will see the largest rate of job loss.
"The goal of the minimum wage is to outlaw low paying jobs for the unskilled and inexperienced. The law, simply, says: it is illegal, and therefore criminal, for anyone to hire anyone else below the level of X dollars an hour. This means, plainly and simply, that a large number of free and voluntary wage contracts are now outlawed and hence that there will be a large amount of unemployment. Remember that the minimum wage law provides no jobs; it only outlaws them; and outlawed jobs ( unemployment ) are the inevitable result.
Even the CBO agrees : http://www.chicagotribune.com/business/sns-rt-us-usa-wage-cbo-20140218,0,274811.story
Remember this is the first version. As history will show with the CBO,500k lost jobs will be a conservative estimate with the revisions going higher and higher
And as we have seen with every raise in the minimum wage .. jobs have disappeared
Even in Seattle we see this now : http://dailycaller.com/2015/10/24/report-seattle-wage-hike-off-to-pretty-bad-start-kills-700-jobs/"
I know the claims about the minimum wage but they make no sense. Prices aren't going to drop if we allow people to work for pennies. If we suddenly kill the minimum wage low wages workers aren't suddenly going to be able to pay their healthcare bills and provide for their family etc etc. what will happen is we will look more like China and Tawain and other low wage third world countries. I truly think the problem lies within the basic corruption of our society. We are not who we think we are. For too long we have acted favorably toward one group of citizens, while marginalizing others. The results are as you would expect them to be. The only solution to raise our society out of this period is to become a better society but their are people who wish to remain in power that will fight us the entire way.
[–] brother_tempus ago
God not this fallacy again. The notion that automation destroys jobs has been disproven a thousand times, it has risen a thousand times out of its own ashes as hardy and vigorous as ever. This time, the government is not the sole coercive agent. The Luddite rebellion in early 19th-century England is the prime example.
Labor unions have succeeded in restricting automation and other labor-saving improvements in many cases. The half-truth of the fallacy is evident here. Jobs are destroyed for particular groups and in the short term. Overall, the wealth created by using the labor-saving devices and practices generates far more jobs than are lost directly.
Arkwright invented his cotton-spinning machinery in 1760. The use of it was opposed on the ground that it threatened the livelihood of the workers, and the opposition had to be put down by force. 27 years later, there were over 40 times as many people working in the industry.
What happens when jobs are destroyed by a new machine? The employer will use his savings in one or more of three ways:
(1) to expand his operations by buying more machines; (2) to invest the extra profits in some other industry; or (3) spend the extra profits on his own consumption.
The direct effect of this spending will be to create as many jobs as were destroyed. The overall net effect to the economy is to create wealth and even more jobs. We must remember that the short-term local effect is to destroy jobs. In some cases where this effect is major, special relief measures might be taken, but blocking the progress leads to stagnation and poverty. In this case, all four points of the Lesson must be borne in mind.
As we see in China, where workers are paid about $3 a day, China exports to everyone because the prices for the goods that cheap labor makes is cheaper than everywhere else.
Your opinion has been disproved
[–] xklevin1 ago
http://www.wired.com/2015/04/inside-chinese-factories/
Who would work under those conditions? The reality is that today's technology destroys jobs and their is no replacement. China doesn't have minimal wage but their workers live in horrible conditions and have no rights. The Chinese people are suffering but since they have jobs they will be alright. You are nothing but a troll.
[–] xklevin1 ago
Hahahaha CHINA REALLY?