(March 10, 2016 at 7:43 pm)Wyrd of Gawd Wrote: Sure, companies can't survive if they have to pay a living wage.
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That;s the thing if everyone has the same or high resources that value of that resource goes down, and it takes more of that resource (money) to buy the products we need to live because those who provide it are paid alot more.
Why do you think the british Pound is worth more than the dollar? There is about a 2:1 ratio between the pound and dollar. the brits certainly do not have a larger GDP than we do.. It's the fact that there are twice almost 2.5 times the printed dollar amount in circulation when compared to the pound.
More dollars= less worth.
Inturn if we pay people more, it is going to cost more to produce, because salaries are factored into a products over all price. which means the raise they got is worth a lot less because the exchange rate (goods to money) has gone up more than the raise they got. This 'echange rate/good to money' will always be higher than what people make because companies have to generate profits to stay in business.
