Exploring an International Minimum Wage | Forums

[stalkervision]

Interesting concept. I know a lot here will absolutely hate the idea before they even read this though.

http://www.documentroot.com/in...ational-minimum.html

[Treetop64]

Won't work. Eight bucks an hour will carry one much farther in some places than in others...

[Bearcat99]

Originally posted by Treetop64:
Won't work. Eight bucks an hour will carry one much farther in some places than in others...

Indeed..

[TheGrunch]

Originally posted by Treetop64:
Won't work. Eight bucks an hour will carry one much farther in some places than in others...

Didn't you read the bit where it said:

In addition to global macroeconomic minimums, set a local minimum wage using a PPP index. We should add many basic commodities to the index. For example, 5 cubic meters of clean water per hour. This is about $3.50 in the U.S., $7.50 in Germany and as low as $1/hour in many nations. In some countries, this would be near zero, such as in Norway. However these countries would fall back on the other minimums.

A PPP (purchasing power parity) index is a rough measure of the price level of an economy, basically. They propose to include some of the more basic costs of living as well, such as the cost of utilities.

[jarink]

There's some pretty obvious flaws in the article, such as the assumptions about profits, calculating these minimums, and his idea about enforcement is so crazy and impractical I have to wonder what planet the author is from.

[TheGrunch]

Oh, it's a blue sky idea, no doubt about that, but only for the reason that it's in the interest of certain countries to decline. The part about wages is very much high-school economics. Hasn't he heard of trade unions?