upinwath Posted December 20, 2011 Share Posted December 20, 2011 Bad idea, In poorer countries, it's cheaper to hire workers than invest in machines. Make labour expensive and you'll make machines viable. That won't do a lot to help "the workers" Link to comment Share on other sites More sharing options...
Cyclone Posted December 20, 2011 Share Posted December 20, 2011 Should we as a country(and all other countries with a minimum wage) only import goods from countries who's workers that produced the goods are on an equivalent minimum wage? Could a mod change the title to "should we stop importing goods from countries that dont have a minimum wage" please? Protectionism doesn't work, so no. Link to comment Share on other sites More sharing options...
Riannon Posted December 20, 2011 Share Posted December 20, 2011 yeah it's true. We need some kind of ethical investment fund. If I won euromillions or something, I'd look to invest in a product or something. Produce abroad but pay a fair wage, look to invest in local infastructure and education programs. I wouldn't over pay as that would upset the local economy. Seeing as I don't need to make a profit I can hopefully undercut the competition whilst still retaining the marketing budgets that the big boys have. Fair wages could be paid to staff at this end and their wouldn't be any shareholders to appease. Also it is still essentially a capitalist model, so it wouldn't stagnate, we would still have to inovate and compete, but excess profit wouldn't be our prime motivation. We just need some super rich nice guys who won't get corrupted by power! The average wage across the urban parts of China rose to just under $8000 this year. As the prices over there are very low the people in the factories are hardly on starvation wages. Link to comment Share on other sites More sharing options...
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