Basic economy questions

pmaitra

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I would say that developed countries like for example Germany and Finland have high skill jobs in the area, that in India or China might be called unskilled labor jobs. For example carpenters and other construction workers are proud professionals with own guilds and good salary in both countries. We try to add value to the process in all levels. That is made possible because everybody nowadays have good education no matter what the job.
http://en.wikipedia.org/wiki/Journeyman_years



IKEA is very popular in the US. If it nominally Swedish, but in practice 99.99% Chinese. The only thing that is Swedish are the chocolates they sell. Even the Swedish meatballs are made locally.

I wonder whether carpentry is at all a major profession in Sweden, IKEA notwithstanding,
 

Bhadra

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All of you opponents of minimum wage are only harping on one thing - the labour becomes costly - the job is closed and the labour becomes jobless --

For you guys it is just a moronic one way street ......:pound:

Look revision in minimum wage is necessitated by inflation ... I say again inflation ... which inter alia means the product or fruit of labour has gained value. One cup of coffee in your famous restaurant example has gone up from Rs 30 to Rs 40.:hail:

You wish to keep paying your labour Rs 100 a day but sell your coffee for Rs 40 a cup instead Rs 30 thereby increase your profits and make it difficult for your labour to survive because of inflation ..

Then you peddle that as Classical Economics :daru:
 

Mad Indian

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All of you opponents of minimum wage are only harping on one thing - the labour becomes costly - the job is closed and the labour becomes jobless --

For you guys it is just a moronic one way street ......:pound:

Look revision in minimum wage is necessitated by inflation ... I say again inflation ... which inter alia means the product or fruit of labour has gained value. One cup of coffee in your famous restaurant example has gone up from Rs 30 to Rs 40.:hail:

You wish to keep paying your labour Rs 100 a day but sell your coffee for Rs 40 a cup instead Rs 30 thereby increase your profits and make it difficult for your labour to survive because of inflation ..

Then you peddle that as Classical Economics :daru:
Again no substance and only crap. Do you have any specific counters to the logic and reason we gave?
 

Sakal Gharelu Ustad

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All of you opponents of minimum wage are only harping on one thing - the labour becomes costly - the job is closed and the labour becomes jobless --

For you guys it is just a moronic one way street ......:pound:

Look revision in minimum wage is necessitated by inflation ... I say again inflation ... which inter alia means the product or fruit of labour has gained value. One cup of coffee in your famous restaurant example has gone up from Rs 30 to Rs 40.:hail:

You wish to keep paying your labour Rs 100 a day but sell your coffee for Rs 40 a cup instead Rs 30 thereby increase your profits and make it difficult for your labour to survive because of inflation ..

Then you peddle that as Classical Economics :daru:
What you are peddling is not even economics!

The wages of all manual workers have kept with time without any govt. mandated minimum wage. The rickshaw pullers in Delhi now charge 20Rs for the same distance which they charged 10Rs some 7-8 years ago. This is perfectly rational as inflation has been roughly 10% in the last decade or so, meaning prices would double in 7 years. How did that happen? Most wages adjust by themselves even in the informal sector. Some sooner and some a little bit later.

What did we argue?
- Govt. does not know how to compute minimum wage
- If govt. implements some random number, employers would find some way around it or shut shop

Now you can beat us with same defeated non-theory again and again. But economics works the way it works. Govt. choices have consequences and people change their behaviour.
 

Bhadra

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What you are peddling is not even economics!

The wages of all manual workers have kept with time without any govt. mandated minimum wage.
Yah, that is why wages in Delhi and Punjab are double the minimum wages !!!:laugh:

The rickshaw pullers in Delhi now charge 20Rs for the same distance which they charged 10Rs some 7-8 years ago. This is perfectly rational as inflation has been roughly 10% in the last decade or so, meaning prices would double in 7 years. How did that happen? Most wages adjust by themselves even in the informal sector. Some sooner and some a little bit later.
You are full circle back to my point ... Wages need adjustment. !! When govt does that it is socialism and when market does that it is market economy ?? No that is not economics. Economics is a regulated activity and not free for all ... I hope you understand that.

What did we argue?
- Govt. does not know how to compute minimum wage
- If govt. implements some random number, employers would find some way around it or shut shop
Goverment in India has a very scientific way of doing it and it is the largest employers. Suffice to say that .. further you find out.

Now you can beat us with same defeated non-theory again and again. But economics works the way it works. Govt. choices have consequences and people change their behaviour.
The theory works worldwide ... and that is economics !!:pound:
 

Sakal Gharelu Ustad

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Yah, that is why wages in Delhi and Punjab are double the minimum wages !!!:laugh:



You are full circle back to my point ... Wages need adjustment. !! When govt does that it is socialism and when market does that it is market economy ?? No that is not economics. Economics is a regulated activity and not free for all ... I hope you understand that.



Goverment in India has a very scientific way of doing it and it is the largest employers. Suffice to say that .. further you find out.



The theory works worldwide ... and that is economics !!:pound:
Economics is a regulated activity regulated by market forces (Adam Smith's invisible hand concept). Had govt. been so successful at setting wages, most of the socialist countries would not have gone to dump.
 

Bhadra

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Economics is a regulated activity regulated by market forces (Adam Smith's invisible hand concept). Had govt. been so successful at setting wages, most of the socialist countries would not have gone to dump.
Adam Smith gave ideas that worked no where. Instead, the so called Capitalistic economies were the first ones to introduce regulations over their economies and regulate wages in many form including social security and minimum wages !

Calico regulations were introduced in England to prevent entry of Indian Calico in England in the age of Adm Smith !!:blah: That much for free market !

Free market you say ! I have money. Please get me US F-22 or some nuclear bombs from USA !:pound:

There is nothing called free market. " Man was born free but he is always in Chains" must have heard of it if not read it !!:yo:
 

Sakal Gharelu Ustad

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Adam Smith gave ideas that worked no where. Instead, the so called Capitalistic economies were the first ones to introduce regulations over their economies and regulate wages in many form including social security and minimum wages !

Calico regulations were introduced in England to prevent entry of Indian Calico in England in the age of Adm Smith !!:blah: That much for free market !

Free market you say ! I have money. Please get me US F-22 or some nuclear bombs from USA !:pound:

There is nothing called free market. " Man was born free but he is always in Chains" must have heard of it if not read it !!:yo:
Don't make a fool out of yourself if you cannot comprehend market forces.

- You have money and you can buy F-22 and all the nuclear bombs for money. Now you can go back and bomb the shit out of US. But is this transaction useful for US? No. They can calculate the damage you will cause through this transaction. Free market is based on mutually beneficial transactions. Message of the story: no transaction if not beneficial. Money is just a facilitator.

Free markets don't work in isolation but have democracy built on top of them. Lazy people can vote anything they want. Nevertheless, there are few cases where market failure is possible. But you would be unable to comprehend that since you are unable to get simple logic.

P.S. Sorry, for my harsh words!
 
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Mad Indian

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He is not idiot on all threads!
Yes you re right. I stand corrected. Rather stupidity should be pointed out un apologetically. He should stick with his area of expertise- defence equipment rather than talking crap about things he does not understand or know. May be shedding his ego will allow him to learn.

Like how I don't talk about defence and usually don't argue there and just learn from experts in that field
 

Sakal Gharelu Ustad

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Yes you re right. I stand corrected. Rather stupidity should be pointed out un apologetically. He should stick with his area of expertise- defence equipment rather than talking crap about things he does not understand or know. May be shedding his ego will allow him to learn.

Like how I don't talk about defence and usually don't argue there and just learn from experts in that field
he has not joined the hopeless category yet. Hence, the politeness. Why else would I waste my time!
 

Bhadra

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Yes you re right. I stand corrected. Rather stupidity should be pointed out un apologetically. He should stick with his area of expertise- defence equipment rather than talking crap about things he does not understand or know. May be shedding his ego will allow him to learn.

Like how I don't talk about defence and usually don't argue there and just learn from experts in that field

You have a lot pretensions and false sense of understanding the issue..

I request post sense and sensibilities rather than that stupid crap... If I am defence expert that does not mean I am less educated and do not understand economics..

Not expected from you...
 

Mad Indian

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I request post sense and sensibilities rather than that stupid crap... If I am defence expert that does not mean I am less educated and do not understand economics..

Not expected from you...
I should be the one saying this to you. You know only about defence and you should stick with it. When someone who has economics degree like @Sakal Gharelu Ustad is trying to explain something on economics, you should learn from him with questions if you have doubts. Not post stupid posts with no logic.

Seriously you sound stupider with each post on economics in this thread. Its ok to accept that you dont know. True wisdom requires humility. Learn it. It will be useful.
 
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Bhadra

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I should be the one saying this to you. You know only about defence and you should stick with it. When someone who has economics degree like @Sakal Gharelu Ustad is trying to explain something on economics, you should learn from him with questions if you have doubts. Not post stupid posts with no logic.

Seriously you sound stupider with each post on economics in this thread. Its ok to accept that you dont know. True wisdom requires humility. Learn it. It will be useful.
No your stupid certification does not matter ... I have even tried to post from reputed source but I simply do not like your exploitation theory of labour ...

And that is not a socialist crap as you say..

All welfare states follow the the theory of regulation of wages... even the Americans..

I do not know what are you trying to prove...
 

Bhadra

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. But is this transaction useful for US? No. They can calculate the damage you will cause through this transaction.
But then where is the free market force in this solely derived by benefits instance ??

Free market is based on mutually beneficial transactions. Message of the story: no transaction if not beneficial. Money is just a facilitator.
Do not change goal posts. Free markets is no mutual benefit but solely profit.. profit to one self without consideration of profit to others.. !! It is not Ram Rajya ! Is it ??

Free markets don't work in isolation but have democracy built on top of them. Lazy people can vote anything they want. Nevertheless, there are few cases where market failure is possible. But you would be unable to comprehend that since you are unable to get simple logic.
Illogical disjointed polemics of no conclusion !:scared2:

P.S. Sorry, for my harsh words!
:hippo:

Sorry you forced me to harsh words..
 

Mad Indian

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No your stupid certification does not matter ..

And that is not a socialist crap as you say..

All welfare states follow the the theory of regulation of wages... even the Americans..

I do not know what are you trying to prove...

Wow. Just wow. This is the best you can come up with? Since Europeans/americans engage in welfare, welfare must be ok? You dont find that reasoning to be stupid?
Netherlands I think allows pedophiles to have their own party - does that mean that it is right?

.
I have even tried to post from reputed source

What nonsense. You have not given a single reasoned post on why minimum wage is needed. All you have given is links about what minimum wage is and what countries follow it.

but I simply do not like your exploitation theory of labour ...
Unfortunately for you, economics does not run on what you like and dont like.

I gave three examples and Sakal gave another example on what will happen because of Minimum wage. Have you countered even one with an actual argument other than some generic bull shit about minimum wage being practiced in europe and how it is bad to exploit workers?
 

Sakal Gharelu Ustad

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But then where is the free market force in this solely derived by benefits instance ??



Do not change goal posts. Free markets is no mutual benefit but solely profit.. profit to one self without consideration of profit to others.. !! It is not Ram Rajya ! Is it ??



Illogical disjointed polemics of no conclusion !:scared2:


:hippo:

Sorry you forced me to harsh words..
So you are asking people to close their minds and just sell whatever they have to you! You are asking people to not evaluate the whole project. Will you buy a piece of land today whose value will become half tomorrow? Think logically.

Sadly, the world is more logical than you think.
 

Bhadra

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So you are asking people to close their minds and just sell whatever they have to you! You are asking people to not evaluate the whole project. Will you buy a piece of land today whose value will become half tomorrow? Think logically.

Sadly, the world is more logical than you think.
If logic is the forte, it says that industry can not run without labour and wefare of labour is as important to keep industry or enterprise running...

It is so simple
 

Sakal Gharelu Ustad

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If logic is the forte, it says that industry can not run without labour and wefare of labour is as important to keep industry or enterprise running...

It is so simple
That's why even the rickshaw puller updates his wages with inflation.
 

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