Quote:
Originally Posted by Masorovka
Nope. High wages are good insofar as they aren't over market prices. If the business can sustain the high wage then all the better for them. A auto worker making $45/hour is still a good wage for a job that requires no education. Capitalism promotes high wages since it values good labor and is willing to pay for better quality workers.
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Complete bullshit. Look at the real world instead of just using rhetoric like an Austrian school capitalist.
Average wages keep decreasing while profits keep increasing, and more and more companies that didn't outsource their jobs still work under a structure in which all workers are rotated in less than a decade because it's cheaper and more efficient to hire and underpay unskilled workers who would settle for much less than they're worth, will adjust to their jobs in an analogous level to skilled workers in a couple of years, and will work under the fear of being fired rather than on the ambition of getting a raise based on seniority.
That right there is a huge profit for the company. It's one of the best methods to reduce costs. Why would they give a shit about the workers then?