I was about to lecture you on getting a positive attitude until I saw your 'about' page-- you're no stranger to hard work and success.
Like jpsb and I were saying (click here for post 119), we've all worked at one time or another for minimum wage and not only did we not die, we prospered. 35 years ago jpsb and I were grateful to have work at any wage. Sure we could have used some extra cash, but if we'd have held out for high pay at the beginning we'd never have gotten to where we are now.
If we try and 'fix' capitalism by passing laws (like min. wage raises or high tariffs) to prevent minimum wage jobs, then the next kid is going to be out of luck-- who'd want to hire someone only worth $4.50 if they're going to pay $10 anyway?
You can laugh at the idea of creating 947,000 new jobs while outsourcing 4,633 jobs, but that's what's happening and we've got to accept reality as it is.
give you 4,633 dollars if you will give me 947,000 dollars.
There are corporate bonds for sale that can do better than that-- it just takes 50 years. You don't need tell me about how 50 years is too long for you-- every time I say how things can be done (and how I've done it) there are lots of freepers who can think up reasons why it can't be done (or why they can't do it). As one Texan to another, we know there's always some way to make things work out right.
This is a must-read for me later.
The "free" market "worth" is not the measure of true worth. If you had surplus of top brain surgeons and they were starving, maybe you could get them for $3 per hour. When price of oil goes up it deos not mean that oil is "worth" more. it mean that producers can command higher price.
Well calibrated minimum wage defends the weakest members from exploatation. When all employers have to pay a certain minimum and when tariffs protect workers from competition from countries with lower costs and standard of living the market can build society up. Otherwise market becomes a destructive force leading to the corrupt and violent oligarchy Latin American style or socialism.