The limits of increasing minimum wage. . . Livablity unattained.
While a liveable wage is paramount to satisfied workers & quality of life. There is a downside to only addressing survivability from wage side economics.
Ever increasing profit to allow for prosperity through only excess (increased expenditure from increased wage\spending) has limits (as minimum wage increases so does price of goods being sold). Thus gain is net zero but amount is more.
Conversely to allow for an ever increasing minimum wage the producer must either cut quality of the end product (hoping the consumer buys again), reduce total output to allow for increased cost of labor, increase price of the final product to allow profitability or seek reduced cost of inputs to maintain product price; also tax incentives to continue operation. Or some combination.
In a market set on reducing foreign inputs (w/ tarriffs) cost savings in unlikely.
Labor cost is fixed (increases with wage) product acquisition is fixed (domestic suppliers ONLY (reduces competetion) eliminating efforts to reduce input cost. INCREASING PRICE. Bulk buying to reduce cost , which startups cannot (killing competetion) thus INCREASING PRICE.
Therefore the only solution other than increasing WAGE to attract workers and ensure qualittv is to DECREASE the COSTS associated with production. (ex. 1. Govt provided employee benefits (socialized medicine 401k, child care, pension, etc.) 2. REDUCED costs of living , such as fuel, insurance, food, rent, property tax, etc. MAINTAIN COST of living, thus WAGE can REMAIN the same, while keeping quality of life and output slowly improved.
To allow lower cost to the employer thus COST can decrease while PROFIT\GROWTH is maintained.
Hence universal healthcare allows for the cost of employee benefit provision to be reduced\fixed for employers. Allowing them to hire more workers and keep prices stable.
What costs can be reduced to offset the need for increased wage?
1. Transit\travel reduction(s).
Example my university tuition included a monthly unlimited bus pass.
2. (government subsidies help) reduce food cost.
3. buying direct from the farm\producer allows fewer cost addons from distribution. 4. And domestic production of fuel. Agricultural fuel (gasoline fuel from hemp).
. . . Ethanol was added to gasoline alledgedly for this reason.
Conclusion increasing wage will only increase price of market goods. Wage-side ecoomics alone will NOT fix this.
Social medicine helps.
REDUCED COST is the answer not only increased wage.
We are in a spiral of inflation from wage-side economics
BREAKING THE CYCLE cut costs
1.Take public transit
2. switch to antenae televsion
3. start a garden
4. cancel the gym membership and walk.
5. Bulk buying
5. put solar on your house.
COST REDUCTION!
DUMBASS!
Ever increasing profit to allow for prosperity through only excess (increased expenditure from increased wage\spending) has limits (as minimum wage increases so does price of goods being sold). Thus gain is net zero but amount is more.
Conversely to allow for an ever increasing minimum wage the producer must either cut quality of the end product (hoping the consumer buys again), reduce total output to allow for increased cost of labor, increase price of the final product to allow profitability or seek reduced cost of inputs to maintain product price; also tax incentives to continue operation. Or some combination.
In a market set on reducing foreign inputs (w/ tarriffs) cost savings in unlikely.
Labor cost is fixed (increases with wage) product acquisition is fixed (domestic suppliers ONLY (reduces competetion) eliminating efforts to reduce input cost. INCREASING PRICE. Bulk buying to reduce cost , which startups cannot (killing competetion) thus INCREASING PRICE.
Therefore the only solution other than increasing WAGE to attract workers and ensure qualittv is to DECREASE the COSTS associated with production. (ex. 1. Govt provided employee benefits (socialized medicine 401k, child care, pension, etc.) 2. REDUCED costs of living , such as fuel, insurance, food, rent, property tax, etc. MAINTAIN COST of living, thus WAGE can REMAIN the same, while keeping quality of life and output slowly improved.
To allow lower cost to the employer thus COST can decrease while PROFIT\GROWTH is maintained.
Hence universal healthcare allows for the cost of employee benefit provision to be reduced\fixed for employers. Allowing them to hire more workers and keep prices stable.
What costs can be reduced to offset the need for increased wage?
1. Transit\travel reduction(s).
Example my university tuition included a monthly unlimited bus pass.
2. (government subsidies help) reduce food cost.
3. buying direct from the farm\producer allows fewer cost addons from distribution. 4. And domestic production of fuel. Agricultural fuel (gasoline fuel from hemp).
. . . Ethanol was added to gasoline alledgedly for this reason.
Conclusion increasing wage will only increase price of market goods. Wage-side ecoomics alone will NOT fix this.
Social medicine helps.
REDUCED COST is the answer not only increased wage.
We are in a spiral of inflation from wage-side economics
BREAKING THE CYCLE cut costs
1.Take public transit
2. switch to antenae televsion
3. start a garden
4. cancel the gym membership and walk.
5. Bulk buying
5. put solar on your house.
COST REDUCTION!
DUMBASS!
