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a reply to: deadeyedick
It is just the basic principle of supply and demand.
originally posted by: Flatfish
originally posted by: neo96
I wonder what minimum wage would be if EMPLOYERS where not paying half of employees ss, and and medicare contributions.
All of the employees workmans comp, and unemployment insurance.
They would exactly the same, only difference would be that the employer would stick the rest in his/her pocket.
For example, consider a simple farm that has two inputs: labor and land. Suppose the farm has 100 hectares of land and one worker (the labor input). This land-labor combination produces some level of output. If the amount of land is increased, and the amount of labor stays the same, the worker will have to give less attention to each acre of land (provided that nothing else changes). So, output may increase, though the additional (marginal) output from adding an acre of land may decrease.
If more and more land is added that must be tended by this one worker, there will eventually be so much land that output starts to decrease as the worker becomes overwhelmed (that is, less labor time, on average, is devoted to each acre). This is the typical stylized result of increasing one productive input while holding the others constant (versus increasing all inputs, generating economies of scale)
. The fundamental groundwork of the Principles is based on the theory that given free competition in trade, the exchange value of commodities will be determined by the amount of labour expended in production. This thesis was reinforced by Ricardo’s theory of distribution in which he argued that the demand for food determines the margin of cultivation; this margin determines rent; the amount necessary to maintain the labourer determines wages; the difference between the amount produced by a given quantity of labour determines profit.
originally posted by: AugustusMasonicus
originally posted by: onequestion
I forgot to mention that every job you do for a team or company is only 1 cog in the wheel of jobs that need to be done in order for the company to continue to profit. In this way every job is as essential as the other in order for the system to work. So cleaning toilets may not be worth jack # but that persons time is worth enough in order for that guy to enjoy quality time with his family and afford basic living costs with a little extra spending for quality of life.
As it is obvious you have never owned a business I can say that not all jobs are equal and some are more skilled or specialized, and therefore more important, than others. The CNC operator makes the manufacturing plant money, the janitor cleaning the toilets does not. One is a net contributor the other is not. A CNC operator is a skilled, in demand job, a janitor can be found quite easily.
originally posted by: amazing
originally posted by: Flatfish
originally posted by: neo96
I wonder what minimum wage would be if EMPLOYERS where not paying half of employees ss, and and medicare contributions.
All of the employees workmans comp, and unemployment insurance.
They would exactly the same, only difference would be that the employer would stick the rest in his/her pocket.
Man, if we didn't have all that to pay, I really think the wages would go up in a lot of places. The better you pay your employees the more retention you get and the better moral and more work and higher quality work they do. It's always been like that.
originally posted by: Hoosierdaddy71
He was not saying that people are only worth $7 an hour. He was saying that the job that needed doing was only worth $7 an hour and those jobs will be eliminated.
originally posted by: neo96
a reply to: Flatfish
The market dictates wages, and benefits.
Not the GD state.
Hell that is so GD funny its surreal.
Them GD evil employers!
They should pay people more so they can go out, and buy more stuff!!!
originally posted by: neo96
a reply to: Flatfish
The only thing I will tell those employees is to get a second job.
Then find one that pays more.
Like millions of Americans have long since done including myself.
Enough of the GD social engineering already.
Enough trying to change the environment to suit the individual. As we all know people have the ability to adapt.
You are not doing any favors for your fellow man.
In fact it's reverse darwinism.
Aka as anti-evolution.