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Minimum Wage Increase?

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johnnyposter On July 03, 2011




my box behind Arbys, Ohio
#121New Post! Aug 12, 2006 @ 19:48:41
Unions are a neccesary evil, just like gov'ts but still, why would you be payed for not having a job or is there an unemployed peoples union?
mammothmeat On October 25, 2007




Trondheim, Norway
#122New Post! Aug 12, 2006 @ 19:51:32
@stumblinthrulife Said
Some questions, if I may.

1. What is the unemployment rate in Norway (I could find out, I guess but I can't be bothered)?


Unelployment rate for 2005 was 4.6%

@stumblinthrulife Said

2. Electronic assembly is not really grunt work. What are the discount retailers paying shelf-stackers and check out persons?


Around $16, according to the sources I have found.
dangermouse On November 21, 2007




, California
#123New Post! Aug 12, 2006 @ 19:52:36
Norway here I come
mammothmeat On October 25, 2007




Trondheim, Norway
#124New Post! Aug 12, 2006 @ 19:53:37
@johnnyposter Said
Unions are a neccesary evil, just like gov'ts but still, why would you be payed for not having a job or is there an unemployed peoples union?


We get unemployment checks based on previous income. If like me, you haven't made enough to qualify for it, you get a minimum amount set by the health and welfare administration.
johnnyposter On July 03, 2011




my box behind Arbys, Ohio
#125New Post! Aug 12, 2006 @ 19:54:24
and I make 6.60/hour
mammothmeat On October 25, 2007




Trondheim, Norway
#126New Post! Aug 12, 2006 @ 19:58:38
If they were to hand out the norwegian petroleum-fund to all of the population (whom wich it belongs to in the first place), we would get about $45773 each.

Thats never gonna happen tho.. I wish it would!

EDIT:I got mislead by bad info!
stumblinthrulife On April 16, 2008

Deleted



Lake Saint Louis, Missouri
#127New Post! Aug 12, 2006 @ 20:04:23
@mammothmeat Said
Around $16, according to the sources I have found.


Interesting.

Turns out I was incorrect, and there is a minimum wage in Norway, and it's about double that in the US. However, they appear to maintain the same level of productivity, with the same overall wage burden (adjusted for size of population, of course).

However, the US works 25%extra hours, and has 25% higher earnings per capita.

Poverty is 4x as widespread in the US, and the prison population 3x as large (again, adjusted for population).

Where are these apparent disparities coming in? How can the minimum wage be half, and yet the wage bill and productivity be on par?

Well, the thing that jumps out of the study most is the disparity in top management wages. In Norway, corporate leaders earns around 10 times that of their workers. In the US, this figure is closer to 200.

On face value, it would appear that a major factor in retarding the increase of a minimum wage is the split between the poorest and the richest of our society. Of course, you can't always take things on face value.
mammothmeat On October 25, 2007




Trondheim, Norway
#128New Post! Aug 12, 2006 @ 20:07:26
Well, thats something that's been churning in my mind too.
I saw on 60 minutes not too long ago that the average working week in the US is reaching 60-80 hours a week, yet productivity is less than that of European countries. It seems to me that too much time is wasted on meetings and "keeping up relations".

A normal working week in Norway is 37.5 hours. Anything above that entitles us to overtime pay.
aruley16 On August 26, 2006




Evansville, Indiana
#129New Post! Aug 13, 2006 @ 01:57:41
Dude I am from Indiana and min. wage here is $5.15 be lucky you get as much as you do. I agree it should go up but there isn't much we can do about it unless you are a higher authority whihc I doubt you are.
whirlwind06 On August 13, 2006




Louisville, Kentucky
#130New Post! Aug 13, 2006 @ 02:09:54
Think of minimum wage like a high jump bar. If your productivity/value/whatever you want to call it is > than minimum wage you will have a job. If not you wont.

White male teenage unemployment in America = roughly 12%, black male teenage unemployment = roughly 24%.

Minimum wage destroys jobs and raises the income of a few.
stumblinthrulife On April 16, 2008

Deleted



Lake Saint Louis, Missouri
#131New Post! Aug 13, 2006 @ 04:37:01
@whirlwind06 Said
Think of minimum wage like a high jump bar. If your productivity/value/whatever you want to call it is > than minimum wage you will have a job. If not you wont.

White male teenage unemployment in America = roughly 12%, black male teenage unemployment = roughly 24%.

Minimum wage destroys jobs and raises the income of a few.


Actually there is at least empirical evidence that this is not true. Comparisons between the Nordic model and the US model show that with double the minimum wage, the Nordics have 5% LOWER unemployment than the US. In the Nordic model, the funds are coming from the salaries of the corporate leaders, which are significantly lower than in the US.

If we want a working raise in minimum wage, an option worth looking into would be to address the range of salaries in the US. Increase the very low end by reducing the very high end. To do this, as I have repeatedly said, we the consumer would have to put pressure on businesses through our investment style. Refuse to invest, or do business with, corporations paying minimum wage to the lowest end workers, while paying obscene salaries to it's board members. Reducing the wage of a board member from $3m p.a. to $1m (how would they live? ) would free up funds to raise the wage of 200 workers by $10,000 a year - A substantial raise if you're previously earning minimum wage - $10,920.

If board salaries started directly affecting the top line of the balance sheet, the share holders would soon start voting them down, guaranteed.
mammothmeat On October 25, 2007




Trondheim, Norway
#132New Post! Aug 13, 2006 @ 16:29:31
@stumblinthrulife Said
Actually there is at least empirical evidence that this is not true. Comparisons between the Nordic model and the US model show that with double the minimum wage, the Nordics have 5% LOWER unemployment than the US. In the Nordic model, the funds are coming from the salaries of the corporate leaders, which are significantly lower than in the US.

If we want a working raise in minimum wage, an option worth looking into would be to address the range of salaries in the US. Increase the very low end by reducing the very high end. To do this, as I have repeatedly said, we the consumer would have to put pressure on businesses through our investment style. Refuse to invest, or do business with, corporations paying minimum wage to the lowest end workers, while paying obscene salaries to it's board members. Reducing the wage of a board member from $3m p.a. to $1m (how would they live? ) would free up funds to raise the wage of 200 workers by $10,000 a year - A substantial raise if you're previously earning minimum wage - $10,920.

If board salaries started directly affecting the top line of the balance sheet, the share holders would soon start voting them down, guaranteed.


What do those board members do to deserve such an incredible paycheck in the first place? Absolutely nothing. Just sit on your a** nodding in agreement with the chairman. The deeper shade of brown you have on your nose, the more you get payed.
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