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by zajio1am 1254 days ago
> We need to get to a place where the labor of human beings has a globally defined fair minimum wage

That is just economic nonsense. Labor productivity of economy depends on utilization of capital and ideas in that economy and it is pretty hard to increase. Average wage per hour in that economy cannot be higher than average productivity per hour. If you set minimal wage higher than its productivity, then you just destroyed almost all legal employment and forced everyone to grey economy or subsistence agriculture.

1 comments

It’s not nonsense to pay a fair wage. It’s basic human decency. Actually, it’s a sacred obligation. If someone gives you some of their time - literally a slice of their living experience, to help you build your wealth then you need to compensate them fairly. It’s not complicated, not at all. I’d like a detailed explanation as to why you think a young skilled worker in China deserves less than an American performing the same task. Explain it to me like you would face to face with a Foxconn worker over coffee after a 10 hour shift on the production line. Explain that economic nonsense like I’m five