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Thread: There Are 85 People Who Are As Wealthy As Half The WORLD, Oxfam Reports

  1. #31
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    Quote Originally Posted by Franc Tireur View Post
    I keep bringing up Henry Ford, because it is a successful entrepreneur story and a business model.
    I agree with that thought. Ford pioneered many innovations to streamline manufacturing processes. Those innovations were a huge factor in his company's success.

    Now I know that every businesses are different and business models shouldn't be forced by any government.
    There again, we are in agreement. Individual businesses should be making their own decisions. Some of those decisions will be good (and get copied by others) while others will be bad (and get discarded). Government-imposed decisions (such as minimum wage increases) are never tested afterward to determine if the benefits outweighed the costs. They are presumed to be good decisions and any evidence to the contrary is ignored.

    I liken it to college being unaffordable:

    1. Problem - People can't afford college tuition.

    2. Government solution - Massive federal grant and loan programs created.

    3. Opportunity - Colleges raise tuition since students can now afford to pay it (with government assistance).

    4. Return to step 1. Rinse, lather, repeat.

  2. #32
    Quote Originally Posted by Bob Barr View Post
    There again, we are in agreement. Individual businesses should be making their own decisions. Some of those decisions will be good (and get copied by others) while others will be bad (and get discarded). Government-imposed decisions (such as minimum wage increases) are never tested afterward to determine if the benefits outweighed the costs. They are presumed to be good decisions and any evidence to the contrary is ignored.
    Well, the minimum wage is another story even If I agree with the concept of getting any governments out of private business decisions.

    Just curious, do you have employees in your company Bob?
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  3. #33
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    Quote Originally Posted by Franc Tireur View Post
    Well, the minimum wage is another story even If I agree with the concept of getting any governments out of private business decisions.
    Why the distinction? Setting wages is a business decision. It's a balancing act between paying enough to hire (and retain) good people while not paying so much as to prevent the company from making a profit.

    Just curious, do you have employees in your company Bob?
    I'm currently semi-retired and working independently. I have worked for quite a number of companies over my career. While all of them had employees, very few, if any, of the employees were in minimum-wage jobs in recent years.

    My first job, though, was at minimum wage (around $2/hr in 1966 if I recall correctly) in a small family-owned machine shop. While I was initially unskilled at what I was hired to do, I applied myself and learned a lot quickly. I got my first raise within three weeks. Several of my co-workers there were still getting (and complaining about) their minimum wage pay after months of similar employment to mine.

    As I learned new skills, I found that I was becoming more valuable to my employer. Since I could fill in at various positions around the shop as the need might arise, I'd be called in for extra hours when temporary increases in production requirements occurred. That flexibility earned me another raise in addition to the pay for the extra hours. By the time I left a few months later to join the service, I was making almost twice as much as some other employees who had been there many more months than I had. Don't get me wrong - I wasn't a skilled machinist and the money wasn't all that great but it was certainly better than getting minimum wage.

  4. #34
    Quote Originally Posted by Bob Barr View Post
    Why the distinction? Setting wages is a business decision.
    Setting wages is a business decision but minimum wage should be the Congress decisions which are the people's representative body that legislate on anything.

    I'm currently semi-retired and working independently. I have worked for quite a number of companies over my career. While all of them had employees, very few, if any, of the employees were in minimum-wage jobs in recent years.

    My first job, though, was at minimum wage (around $2/hr in 1966 if I recall correctly) in a small family-owned machine shop. While I was initially unskilled at what I was hired to do, I applied myself and learned a lot quickly. I got my first raise within three weeks. Several of my co-workers there were still getting (and complaining about) their minimum wage pay after months of similar employment to mine.

    As I learned new skills, I found that I was becoming more valuable to my employer. Since I could fill in at various positions around the shop as the need might arise, I'd be called in for extra hours when temporary increases in production requirements occurred. That flexibility earned me another raise in addition to the pay for the extra hours. By the time I left a few months later to join the service, I was making almost twice as much as some other employees who had been there many more months than I had. Don't get me wrong - I wasn't a skilled machinist and the money wasn't all that great but it was certainly better than getting minimum wage.
    My father was working in Paris in the 60's, it was the time where you could quite at 5PM and get another job next morning at 7AM. Unfortunately today you can't do that because when there are 20 job offers, you get thousands people who want to take these positions, where the others are going to get a job?. I guess that resume pretty well the trend. Don't forget that today the labor pool is extended to the world labor pool, skilled or not and thousands of companies left the US or Europe to emerging countries.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


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