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Tuesday 24 July 2012
The Minimum Wage Is So Low That It's Immoral

Think of a minimum wage increase as an instant economic stimulus funded by the runaway profits of the major corporations.

People who are struggling to get by on minimum-wage jobs have a lot of pent-up demand - to fix or replace that broken-down car, to put decent groceries on the family table, or to purchase the necessities and tiny luxuries of life.

They’re not going to put that money into hedge funds or Swiss bank accounts. They’re going to buy stuff. When they do, local businesses are going to need people to sell them that stuff. That means there will be more jobs in the community. It also creates more revenue for the smaller businesses that employ low-wage workers, which will help revive real capitalism - the Mom and Pop kind.

As the demand for the stuff they’re buying goes up, the companies that provide it are going to have to hire people to produce it for them. That creates even more jobs.

And every time another job is created, more people buy more stuff - which in turn creates more jobs. That’s the cycle of economic growth. For a real-world example, look at this country’s economic boom after World War II.

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  15. intheoryandinpraxis reblogged this from maxlibertarios and added:
    When your logic is this “everyone will do...same thing, but they’ll get more numbers for...
  16. maxlibertarios reblogged this from sylphaeon and added:
    People just regurgitating the lies they hear
  17. sylphaeon reblogged this from basedtoast and added:
    I swear, it’s like people cannot grasp basic economics…
  18. exerciseinexposure reblogged this from subadamantine and added:
    The full article is an interesting read, and written in a way that is easy to understand for people like me who aren’t...
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  23. basedtoast reblogged this from robertbrotheon and added:
    http://steshaw.org/economics-in-one-lesson/chap19p1.html
  24. jen-the-pariah reblogged this from lywinis and added:
    What happens when there are no Jobs left for the normal average person because the “rich people” keep exporting jobs so...
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  28. punkhawke reblogged this from lywinis and added:
    I would like to add that even those of us who don’t make minimum wage suffer and have barely enough to live on. They do...
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