|
|
| Re: $15 minimum wage permits few luxuries in US cities (1190843) | |||
 |
|||
| Home > OTChat | |||
|
[ Read Responses | Post a New Response | Return to the Index ] |
|
||
|
Re: $15 minimum wage permits few luxuries in US cities |
|
|
Posted by Nilet on Wed Jun 4 09:27:41 2014, in response to Re: $15 minimum wage permits few luxuries in US cities, posted by GP38/R42 Chris on Wed Jun 4 09:02:59 2014. On the contrary. A wage is necessarily less than the economic value of the labour performed— that's how capitalism works. The remainder of that value goes to company owners and shareholders, most of whom belong to a parasitic rentier class. If all wages go up, it means a larger percentage of labour's value will be left in the hands of the people who earned it, which means they'll be better off for it.Increasing wages across the board will increase prices by an amount less than the increase in wages, resulting in a net gain of purchasing power and a more equitable distribution of wealth. |
|
|
|