Why not $50?
2006-08-22 20:10:33
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answer #1
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answered by Anonymous
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In response to TheSlayer: Actually if you have read Smith's "The Wealth of Nations", the phrase "the invisible hand" appears only once, and it is referring to the economics of English manufacturors during the period that the US was fighting for independence. Adam Smith seems to believe that sympathy is the core human value, and writing about the capitalism that was developing in England, he said "the invisible hand" is the driving force that would cause businesses, manufacturers, and consumers to produce and consume locally, rather than over-seas investments and exports. So your agrument of "moving jobs overseas" fails there.
Since we do find ourselves in this time of globalization, where free-trade and cheap labor are becoming easier for the wealthy and the corporations, it seems that Adam Smith would find it appropriate for the workers to demand higher wages and locally-made products. This is where unions and grass-roots movements step in. If we care for our children, future generations, or preserving cultures other than our own, then yes, we should follow Adam Smith's beliefs about preferring home-trade to foreign-trade, and about understanding and respecting other cultures on this planet.
To answer the question, I think a minimum wage of $25 per hour is a little out-of-reach for now, but there are many things that we can do to make the world a better place. Unions won the 8-hour work day, child labor laws, the weekend; unions got the FDA to start and to make on-the-job safety regulations. There are more abstract things to be concerned about right now, globalization being one of them. Learn everything you can about the world around you, be an active participant and ask questions, stand up for what you know is right.
2006-08-22 20:37:57
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answer #2
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answered by Rosie 1
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Voting for bread and circuses sounds like a great idea - only thing is, it does not create the bread and circuses. That takes work. If you want to earn $25/hour, then acquire some skills that are worth $25/hour.
And you do realize that increasing minimum wage to $25/hour will only cause the price of everything else to be raised, too, thereby not resulting in an increase in effective buying power.
Study Adam Smith's "The Wealth of nations" and make sure you really comprehend the concept of "The Invisible Hand" and supply and demand.
2006-08-22 20:13:52
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answer #3
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answered by TheSlayor 5
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the answers so far have the whole point of the ?. if the people had any brains which they do not, that's exactly what they would do. in fact if the people would collectively would do that the price of oil would be 3$ a gallon. but no the people are to scared by the answers u are raise-ing w/this ?.do u notice that they will blame some thing else? instead of take the responsiblity for their own stupidity. and when the world is fall down aroud their ears they still refuse to take the blame for it. oh!!!!! by the way , that is exactly what is going on in case u have not noticed.
2006-08-22 20:25:14
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answer #4
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answered by Anonymous
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because it would be a pointless and immature thing to do. To tell you the truth, the people with money that lead this country, wouldn't accept it. They are not going to pay some uneducated person $25 an hour to wash dishes.
2006-08-22 20:11:51
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answer #5
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answered by Anonymous
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I'm almost in agreement with you when people over at Ford sweep floors for $28 an hour, if a Union ran government maybe it would happen...
2006-08-22 20:15:47
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answer #6
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answered by Ladeebug71 5
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Because the price of goods and services would rise so dramatically that you couldn't afford anything still.
2006-08-22 20:10:32
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answer #7
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answered by Freddie 3
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Because all of us are are not stupid enough to realize that this would not be such a great idea.
2006-08-22 20:13:50
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answer #8
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answered by Anonymous
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if you succeed all the jobs will move overseas.
2006-08-22 20:14:04
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answer #9
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answered by JoeSchmoe06 4
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