Message from @Eno_
Discord ID: 554263737008259072
yeah, but people have the wole idea wrong
capitalism produces technology, that technology improves our lives, that's wealth
Capitalism isn't meant to let rise
it's supposed to make them fall
hmm?
in nominal terms
They're supposed to rise in *real terms*
despite nominal wages rising, if prices fall etc real wages will rise
which is what Capitalism is about
right. if a widget is cheaper to produce thanks to improvements in technology
Yeah
i think smartphones are a great example, computers in general
Increasing in supply, a higher purchasing power of the dollar.
Mhm
deflation is good
i think this is an argument for not increasing the minimum wage
the worth of human labor will perhaps go down but we want to give people a chance to sell their labor, so they can earn at least something
if deflation is happening. having $100 from your cheap job is better than having $0 from no job.
if you increase minimum wage, you will increase the rate of automation, you will accelerate the communist dyst/ut/opia
alternatively, we should let the market figure out the new types of labor that come about from the new technology, at whatever their worth, and not interfere with minimum wage as it may well be less than that
and its a downward spiral
one measure causes problems so introduce new measures to fix the problems etc. everything goes to shit
Yeah minimum wage is bad
i'm arguing for not touching what we have. i wonder would happen if we just removed it though.
if it ain't broke though... idk
maybe we'd see deflation?
think of it... all these homeless ppl begging for money, if there was no minimum wage, someone might at least give them a job sweeping the street or some very low paying job which would be an improvement to their state now
but as of now they are difficult to employ
having non-zero is a hell of a lot better than having zero
i think the toughest candidate dems could pick is yang
he's the only one not talking about identitarianism race/gender stuff
Yeah deflation is good
he's almost like bernie was in 2016 before he fell into the left identitarian narrative
or in 2015 idk
a trump vs. yang debate
i don't think that he will be picked though.
ya
The idea is that being poor and begging for a job and receiving a very low-paying job under a completely deregulated economy is not preferable to having “free” money on hand to counteract any loss of jobs from forces beyond your control
And @sɪᴅɪsɴᴏᴛʜᴇʀᴇ you’d probably freak out at this idea but I’ve been considering the merits of QE4P (which is now my nickname), which would mean direct money supply injection alongside or instead of interest rate targeting by the Fed
That during, say, an economic downturn, the Fed could send every citizen a check for some reasonable amount of new money in order to counteract money supply contraction