If The Capitalists Ship Our Jobs To China They’ll Be just Fine With The Minimum Wage, Right?
A VERY nice little piece of logic from Don Boudreaux over in the US. We do all agree that capitalists are swine, I hope? That profit is the only thing they care about?
When the subject is international trade you correctly recognize that, all other things equal, firms prefer to pay workers lower rather than higher wages and will, as a result, actively exploit all available profit-enhancing opportunities to lower their production costs. So why do you not recognize that the same economic motivation and opportunities exist when the subject is the minimum wage?
Now, assume we do all agree that all capitalists is bastards, greedy ones for their own profit at that. And we all also know that they’ve been packaging up our jobs for the past few decades and sending them off to China where they can pay spit for labour. Because they’re greedy so-and-sos out only for their own profit. So, what’s going to happen if we have a minimum wage. Or a living wage, or some rise in either of them? Quite, the capitalist pigs are going to pack up more of those jobs and ship them off to where they’ve only got to pay spit. Or find some other method of getting rid of workers: replace them with machines perhaps, like self-checkout thingies in the supermarkets. Now we must all agree with this: for we do all agree that they’re greedy sods out only for their own profit. So, raising the minimum wage must indeed lead to job losses. Because all capitalists is bastards.