The Minimum Wage in One Lesson

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Robin Hood
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Re: The Minimum Wage in One Lesson

Postby Robin Hood » Wed Nov 23, 2016 10:43 am

gclayjr wrote:Robin Hood,

Automotive News, June 2, 2003... How Ford Bought, Fixed Jaguar

Had Ford planners realized how bad things were at Jaguar the company, they might have had second thoughts about taking on Jaguar the brand.

"It wasn't that Jaguar's quality was bad, it was horrendous," said Bill Hayden, the tough east London manufacturing man Ford sent in as first Jaguar chairman in the new era.

"It was a terrible organization making terrible cars," he added.


http://www.autonews.com/article/20030602/SUB/306020844/how-ford-bought-fixed-jaguar

Regards,

George Clay


OK, so you don't want a Jag? If you're ever offered one, I'll have it! You can just go for the Rolls, or maybe a Bentley.
But I fail to see what the quality of a Rolls Royce or an Aston Martin has got to do with the minimum wage.

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gclayjr
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Re: The Minimum Wage in One Lesson

Postby gclayjr » Wed Nov 23, 2016 4:07 pm

Robin Hood,

This was what I thought was a humorous side banter related my connecting the strong labor movement in Britain, with your comment related to how uncontroversial minimum wage legislation was in Britain back in the 1970s. I also noted the hollowing out of British manufacturing that used to be world class, and specifically mentioned British Leyland which fell apart (there is a pretty good documentary about this on you-tube by Jeremy Clarkson, of Top Gear Fame ), largely as a result of over powerful labor unions.

Then you waited awhile and mentioned Jaguar Rolls Royce etc, and I gave reference to the fact that Jaguar had their quality and labor problems too, and were pretty much saved by Ford's push for quality improvement after begin taken over (This is very well documented, if you need more references)

So to bring it back to the lighter side. If somebody gives me a Jaguar, please buy a Corvette, and I'll gladly exchange with you.

Regards,

Georeg Clay

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Robin Hood
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Re: The Minimum Wage in One Lesson

Postby Robin Hood » Thu Nov 24, 2016 11:44 pm

gclayjr wrote:Robin Hood,

This was what I thought was a humorous side banter related my connecting the strong labor movement in Britain, with your comment related to how uncontroversial minimum wage legislation was in Britain back in the 1970s. I also noted the hollowing out of British manufacturing that used to be world class, and specifically mentioned British Leyland which fell apart (there is a pretty good documentary about this on you-tube by Jeremy Clarkson, of Top Gear Fame ), largely as a result of over powerful labor unions.

Then you waited awhile and mentioned Jaguar Rolls Royce etc, and I gave reference to the fact that Jaguar had their quality and labor problems too, and were pretty much saved by Ford's push for quality improvement after begin taken over (This is very well documented, if you need more references)

So to bring it back to the lighter side. If somebody gives me a Jaguar, please buy a Corvette, and I'll gladly exchange with you.

Regards,

Georeg Clay


George, we didn't have minimum wage legislation in the 1970's.
The minimum wage was brought by Tony Blair's government in the early 2000's.
This is why I didn't really understand your point.

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gclayjr
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Re: The Minimum Wage in One Lesson

Postby gclayjr » Fri Nov 25, 2016 5:46 am

Robin Hood,

I'm sorry, I missed your point. Maybe that being separated by a common language problem.

Still, If I ever get a Jaguar and you a Corvette, I will gladly trade.


Regards,

George Clay

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Robin Hood
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Re: The Minimum Wage in One Lesson

Postby Robin Hood » Fri Nov 25, 2016 7:29 am

gclayjr wrote:Robin Hood,

I'm sorry, I missed your point. Maybe that being separated by a common language problem.

Still, If I ever get a Jaguar and you a Corvette, I will gladly trade.


Regards,

George Clay


Deal!
However, please make sure the Jag has the steering wheel on the correct side. ;)

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ajax
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Re: The Minimum Wage in One Lesson

Postby ajax » Fri Dec 02, 2016 10:38 am

Faces of the $15 Minimum Wage Victims
https://fee.org/articles/faces-of-the-1 ... e-victims/







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Separatist
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Re: The Minimum Wage in One Lesson

Postby Separatist » Fri Dec 23, 2016 9:30 am

Murray Rothbard:
In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period. The law 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 are the inevitable result.
http://austrianeconomics.org/sites/defa ... ense_3.pdf


Henry Hazlitt:
“I had no skills whatever,” he said. “So I would get a job, and I would last two or three days and be fired. It never surprised me or upset me, because I read the Times early in the morning, went through the ads, and I’d practically have a job that day. This shows what happens when you have a free market. There was no such thing as a minimum wage at that time. There was no such thing as ... welfare. You had a free market. And so I usually found myself at a job the next day, and I’d get fired about three or four days after that. ... I didn’t have the skills. But each time I kept learning something, and finally I was getting about $3 or $4 a week. ...”
https://mises.org/blog/message-lew-rockwell
"The love of liberty is the love of others; the love of power is the love of ourselves. We cannot force love" --William Hazlitt

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Re: The Minimum Wage in One Lesson

Postby JandD6572 » Sun Dec 25, 2016 5:29 pm

Separatist wrote:People don't have those things because of charity. They have them because the market has made them available at affordable prices on a mass scale. People don't have to work as long to purchase the same type of items years ago.

http://cafehayek.com/2013/01/cataloging ... -2013.html

https://www.aei.org/publication/data-re ... nt-page-1/

We work less hours, have shorter work weeks and more leisure than ever before. I know nobody who would like to go back to the standard of living in the 70s or 50s. You'd be the first. I agree that gov't is out of control and is basically trying to ruin everything.


We work less hours? shorter work weeks? not sure what area you live in, but maybe in a fantasy world. but high speed, hard competitors, and the wanting of companies wanting shelf space on super market and department store shelves, they keep the work going 7 days non stop and around the clock. yea, no the work weeks are not getting shorter. sorry my friend, but they will i guess if you are part time and the rest form tax payers.

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ajax
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Re: The Minimum Wage in One Lesson

Postby ajax » Fri Dec 30, 2016 10:51 am

HORRIFIC Minimum Wages Will Increase in 20 States at the Start of the Year
http://www.economicpolicyjournal.com/20 ... se-in.html

Is your state about to increase unemployment at the start of the New Year by raising the minimum wage?

It's pretty basic economics, raise the price of something and you get less quantity demanded. Forcibly raise wages by law and you will get less quantity demanded for labor.

minimum-wages-set-to-increase-in-many-states-in-2017-1483093806.jpg
minimum-wages-set-to-increase-in-many-states-in-2017-1483093806.jpg (59.99 KiB) Viewed 276 times
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Separatist
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Re: The Minimum Wage in One Lesson

Postby Separatist » Fri Jan 06, 2017 6:53 am

What Puerto Rico Can Teach Us About the Minimum Wage
https://mises.org/blog/what-puerto-rico ... nimum-wage

Brittany Hunter

This week, twenty states began implementing minimum wage increases that were passed during 2016. As the country waits to see how these increased wages this will affect the economy, the U.S. territories have already provided us with a grim example.

After the 2007 Fair Minimum Wage Act was passed, each of the fifty states was required to raise the minimum wage from $5.15 an hour in 2006, to $7.25 by 2009. Few Americans realize that this legislation was also applied to the U.S. territories of Puerto Rico, American Samoa, and the Northern Mariana Islands, who were also forced to raise wages.

When the minimum wage is increased, the private sector is responsible for finding the means to actually pay for these increases. Though many companies will be forced to raise prices in order to continue operating within their profit margins, some might be left with no choice but to lay off employees or dramatically cut employee hours.

Since minimum wage pay is typically associated with entry-level workers, if employers are forced to let these employees go, they will lack the skills necessary to quickly rebound in the job market. As a result, unemployment rates begins to rise.

When minimum wage requirements are made at the city or state level, the losses experienced from high unemployment rates are offset in the local economy, since many who are unable to find work often relocate to an area where the minimum wage isn’t as restrictive.

However, for those living in U.S. territories, relocation is not as easy as it is for residents in the continental states. Without the flexibility to relocate, the economic catastrophe that resulted from 2007 minimum wage increase was felt on a grander scale.

According to researchers Paul Kupiec and Ryan Nabil, “The impact on the economies of American Samoa and the Northern Mariana Islands was devastating. In American Samoa, by 2009, after only three of the ten scheduled minimum-wage increases, overall employment dropped 30 percent — 58 percent in the critically important tuna-canning industry. Real per capita GDP in American Samoa fell nearly 10 percent from 2006 levels. In the Northern Mariana Islands, by the end of 2009, employment was down by 35 percent, and real per capita GDP off by 23 percent.”

As the situation grew desperate, the governor of American Samoa testified before the U.S. Congress explaining that the new minimum wage policy created, “the real possibility that American Samoa could be left substantially without a private-sector economic base except for some limited visitor industry and fisheries activities.” He continued, “American Samoa’s economic base would then essentially be based solely on federal-government expenditures in the territory.”

Puerto Rico met a similar fate after the new minimum wage rate went into effect. The increase resulted in a minimum wage that was 75 percent of the Puerto Rican median wage. In fact, the situation grew so dire, unemployment in Puerto Rico surged and its GDP per capita declined by almost 7 percent between 2007 and 2013. As a result, many young and able-bodied Puerto Ricans left for the U.S. mainland, creating an imbalance as the old and less motivated were forced to stay behind.

Additionally, foreign investors were turned off by hiring Puerto Ricans, since residents of Jamaica and the Bahamas would only cost half as much to employ.

By raising the minimum wage to as much as $15 an hour, states like California and New York are not just setting an American record for highest minimum wage, they are setting a global record as well. Even France, where socialism thrives, has a minimum wage equivalent to only $10.90 an hour.

In fact, the only time in history that the minimum wage was increased at economic levels comparable to that of New York and California was in 2007, when the U.S. territories implemented the Fair Minimum Wage Act. As we all know how that situation ended, we can only hope that in the future, governments can learn from history and avoid causing economic catastrophes.
"The love of liberty is the love of others; the love of power is the love of ourselves. We cannot force love" --William Hazlitt

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David13
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Re: The Minimum Wage in One Lesson

Postby David13 » Fri Jan 06, 2017 8:01 am

Minimum wage increase.
When was the last time we had a Social Security cost of living increase?
Just a little bit of age discrimination by the bigoted left.
dc


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