and the companies would compete for labour

nobody would work for third world wages

Singapore has no minimum wage I believe

even low-paid workers in capitalist countries on minimum wage or even below that would still be wealtheir than most of the world's population

and tbh, not very many minorities put in.. yet they receive

if companies were paying too little nobody would accept and other companies would pay more to attract workers

thats what henry ford did

Either way you are being exploited if you are a worker no matter how high your wages may be

No you're not

you're being paid

@sɪᴅɪsɴᴏᴛʜᴇʀᴇ a third world equilibrium, capitalists would seek to keep it as low as possible and states would be forces to lower wages to get the jobs, competing with each other in a race to the bottom. Exactly what I said at the beginning.

for your labour

easy

nah not really, this whole explotiation or workers thing doesnt really make sense

@t r u e nah

You never get the full product of your labor

they would reach a wage the market equilibrium would have

@DaddyCewlSterTube its determined by supply and demand, it cant be a race to the bottom, there is an equilibrium

yeah you do because you get paid

simplo

what are you even working for? continual debt?

The surplus value is extracted and your product is sold for profit

i sound like a nazi.. lemme stop

yes

profit is not a problem

ok, what is this marxist crap,

profit is great

it is

The full value is never gained

workers cant be paid the same price as the good that is sold

"global market equilibrium" = /= what is fair or best for the nation

talking economics with socialists is aids

@t r u e yes the market fairs best for everyone

because we have to pay interest, dividends, rents and pay other workers who worked for the same product

there are other factors of production that aren't labour

Capitalism isn't morally acceptable

seems acceptable to me

this is useless, willful idiots

Keeping and reducing the poverty rate is better than having a shit quality of life and starvation

You can never truly keep the full value of your labour under capitalism

we are paying the workers a price they have accepted and a similar price workers for the same job are getting paid, which actually is quite high in western nations