what happens when there's no poor people left to exploit

it would never work

because you cant store big macs

@Punished Tinker Tom

@Double Negative Then the company is forced to pay it's workers more

and save them up

*Wage increases are partly government-driven. China’s 12th Five Year Plan aims to raise the national minimum wage by an average of at least 13 per cent each year, faster than in previous years. Localities are free to set their wages above the national level. In fact, provinces have increased minimum wages by an average of 16 per cent this year, following a 20 per cent increase last year. Shenzhen province in the Pearl River Delta tops the list in terms of minimum wage levels, with minimum monthly pay of CNY1,600 (USD258). This has forced more than half the companies in our survey to raise wages more than they had planned, particularly for the least skilled part of their workforce.*

well shit

prices of luxuries today are only affordable because they use cheap labour

I was looking forward to a big mac based exchange system

I don't know why he's listing nominal gdp

prices would skyrocket if the cheap labour went away

it literally means nothing

@weebnationalism What do you think of this weeb

do you think the prices would skyrocket

prices skyrocketing means nothing really

there are no prices when there's no money

the company is forced to raise the prices on their products because they no longer get the profit margin that they used to, because the cheap labour is gone

so you have more money, but also spend more money

would it not cancel out?

So it balances out

fun fact the price of a single loaf of bread has stayed around the same for over 70 years

when the government increases minimum wage, prices will adjust accordingly and everything will remain the same apart from the new purchasing power of the dollar

@weebnationalism that's the real wage

just because you increase the minimum wage doesn't mean you affect supply or demand

Which are the real determiners of price

you just affect the nominal wage which is just an annoying inconvenience

imagine how much easier life would have been if we didnt have to go to the trillions to say wow that's a lot

hey there's something i just realized

would you buy norinco dub neg

the people in the sweatshop country would have more money

but not you

Usually a minimum wage increase results in layoffs until the market can adapt

@Double Negative What about it

because your wages aren't increasing, theirs are

so you would pay more

but not have more money

because cheap labour doesnt exist in your country anymore anyways

@weebnationalism Your take?

what is he even saying

well