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RE: The Dark History of the Minimum Wage

in #dtube5 years ago

Its hard to dismiss the minimum wage when a fiat currency is in use. It is unethical to have a currency inflate to infinity and not maintain a minimum earning potential. These are issues associated with planned economies.

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I don't know that you have finished thinking this through. The minimum wage is brought to you by the very same people who bring you fiat currency and inflation (although they are almost always hidden in the background - they work through various front men politicians). The people hurt the most are those on fixed income (or no income) retirements. And those who have lived within their means and put away savings in the fiat currency.

No, I do not specialize in this area. I also do not pretend to know the answer. My statement warned that manipulation of currency value would cause a need for to set an artificial bottom wage to follow the inflation to prevent the negative effects of intefering in the first place. I also argued against planned economy. After re-reading it, I can see how one could get the wrong idea.

We are trying very hard to provide alternatives to fiat currency. One that doesn't leave the current fraudsters still in charge after a transition.

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