Daily reminder the first country to eliminate their central bank and allow free market banking will have the highest living standards on earth within 5 years.
Massive high paying service sector jobs with dominate this country's economy to consume the goods the rest of the world has to produce for it.
The workweek would shrink to 2-3 days a week and people would retire much earlier. This will also lead to more jobs becoming available.
Everyone would have high saving rates. Houses would be inexpensive. Debt would be strongly discouraged economically.
Massive automation would take place as the cost of capital goods would be extremely cheap. This will lead to massive levels of technological innovation.
It would be extremely easy for the average person to start a business due to the cheap cost of capital goods.
Daily reminder REAL capitalism has prices falling all the time instead is going up.
Daily reminder America never had a system of free market banking. There were only patches of American history with free market banking. The panics that happened during the 1800s were due to government intervention in the banking sector. Sweden had the longest most successful period of free banking and that's what made them really rich.
Daily reminder the longest period of (relatively)free banking in America coincided with the INDUSTRIAL REVOLUTION where wages rose and prices fell.
Daily reminder central banks are the very reason the economy is a pile of shit and our generation is so fucked.
>the INDUSTRIAL REVOLUTION where wages rose and prices fell Isn't the Industrial Revolution the infamous period in American history where workers had shit wages, long hours, no safety regulations, and company stores?
Jaxson Morris
>Isn't the Industrial Revolution the infamous period in American history where workers had shit wages Let me guess, you learned that in your public school history class instead of learning what actually happened from actual economic/historical textbooks?
Thought so.
Wages rose in the USA during this period. In fact they had the highest real wages on EARTH during this period.
>long hours Everywhere in the world had high working hours. It was mass production and capitalism that was decreasing working hours. Pic related.
>and company stores Which offered workers higher living standards than other firms? How horrible.
Jackson Ross
>the first country to eliminate their central bank and allow free market banking will have the highest living standards on earth within 5 years
only if they cant put down the swarm of socialists clones attempting to steal everything
Adam Morales
can*
Andrew Ross
A Google search hasn't come up with what you're saying about US wages at the time.
>company stores >Which offered workers higher living standards than other firms? How horrible. The company would pay workers' salaries in bullshit currency that only the company store would accept so that they had no competition in the market of feeding and clothing their workers for profit. It was horrible. Shit costed way more in the company store than in real stores because of that monopoly over their workers options.
John Green
Why do anti-libertarians repeat the SAME arguments we've debunked a million times desu?
This is honestly too fucking easy.
Ryder Lopez
While I agree with you this thread is getting annoying. If you want to have daily threads about this, perhaps you could start making an ancap general? Surely you're not only interested in dismantling the half-baked arguments of the tiny minority who can be bothered to check out your 50th thread with the exact same OP?
Zachary Edwards
>A Google search hasn't come up with what you're saying about US wages at the time. en.wikipedia.org/wiki/Gilded_Age >The Gilded Age was an era of rapid economic growth, especially in the North and West. As American wages were much higher than those in Europe, especially for skilled workers, the period saw an influx of millions of European immigrants. The rapid expansion of industrialization led to real wage growth of 60% between 1860 and 1890, spread across the ever-increasing labor force. The average annual wage per industrial worker (including men, women and children) rose from $380 in 1880 to $564 in 1890, a gain of 48%. However, the Gilded Age was also an era of abject poverty and inequality as millions of immigrants—many from impoverished European nations—poured into the United States, and the high concentration of wealth became more visible and contentious.[2]
Even WIKIPEDIA(which is normally leftist) disagrees with you.
>The company would pay workers' salaries in bullshit currency that only the company store No shit, that was the reason they were able to pay higher wages than any other firm. It was up to the worker whether he wanted to work at a company town with higher wages, or a normal company with wages in which he could spend anywhere else.
>Shit costed way more in the company store No it was cheaper. why do you think the workers worked there in the first place? were they just stupid or something? there were PLENTY of alternatives available
my god you people are dumb as rocks I bet you support child labour laws and the minimum wage too kill yourself
Xavier Allen
I'm not the only one that posts this thread.
Also it hasn't been posted in 2-3 weeks.
Angel Walker
Got any YouTube videos on how the banks duck e us over so much, like the math behind it? Thanks leaf snek
Jonathan Wright
It's so hard to get thru to people about child labor laws.
Average conversation I have:
Why do we need child labor laws? >X age shouldn't be able to work Why not? >Because having them work could lead to abusive and neglectful situations Don't we have laws against child abuse and child neglect already? Sounds like the child labor law doesn't do anything other than restrict things we might find reasonable. For the unreasonable stuff there's already laws in place. Using children as slave labor exposing them to dangerous conditions already falls under abuse and neglect, we don't nee a specific law for that. But child labor includes a young apprentices and people doing basic things like bagging groceries for a little cash on the weekends, helping them learn work ethic and basic employment skills. There's stuff we might find actually fairly reasonable and non-abusive, and that's the only real thing child labor laws target >But you're a bad person for wanting to get rid of child labor laws! Alright
Parker Mitchell
Huh, I didn't know about that wage difference.
>Shit costed way more in the company store >No, it was cheaper. "Company stores have had a reputation as monopolistic institutions, funnelling workers' incomes back to the owners of the company. Company stores often faced little or no competition and prices were therefore not competitive. Allowing purchases on credit enforced a kind of debt slavery, obligating employees to remain with the company until the debt was cleared." Courtesy of Wikipedia: en.m.wikipedia.org/wiki/Company_store
Additionally, I remember reading about fantastic job growth in Seattle in response to their $15/hr minimum wage change. I don't see how preventing wages from falling below a certain point hurts anyone but the company. It's just a protect for when the company gets the upper hand in the supply/demand job market. At the end of the day, it's not like people can just not get a job when they don't like the wage because there will always be bills to be paid regardless of their employment status.
Blake Williams
1) are we going to pretend hurting a company doesn't effect the people who make up the company and impede their ability to grow and hire more?
2) It hurts people who are unskilled and have trouble providing at least the minimum's wage WORTH of value.
So for instance, a high schooler who doesn't have any skills and maybe some small problems learning new things may not be able to functionally produce 15 dollars an hour worth of revenue for the company. Meaning the law has essentially forced an exclusion against hiring him unless it's as a charity job. Companies do provide employment as a form of charity sometimes. The most obvious example of this has been Walmart Greeters. Walmart has employed greeters to direct customers and help watch out for shoplifting, but you will also sometimes see people hired as greeters that are infirm or disabled in ways that make them unable to fulfill that role.
A demonstration that even the minimum-wage-loving left understands how minimum wages excludes people of this is actually the legal exceptions we already have made for disabled people. Lets take our high-schooler above and take his small learning disability and exaggerate it to something easily diagnosed and that has a significant affect on his ability to perform any job. We don't require minimum wage for him, because we all know that would keep him unemployed forever. But what about when our theoretical person struggles /just/ enough? And/or the minimum wage raises to /just/ enough where he can no longer be hired? Then our young person falls thru the cracks.
And really, if you're just going to inform yourself with far left sources like npr and not read anything to the contrary, why bother? It's simple, clearly higher minimum wages makes living more comfy, and it also magically stimulates job growth too -- there are no other factors to be considers, of course not -- why are we waiting? Raise it to $50 or 100/hr, then we'll really have a lot of high paying jobs!
Ryan Robinson
bump
Oliver Price
>eliminate their central bank and allow free market banking
No
This is how you have your nation "liberated" by NATO and turned into a Judaic ruled hellhole
Sebastian Collins
We are NATO.
Julian Parker
Do you have any actual proof for such bizarre dystopian bullshit theories?
Jose Ross
This IMF will fuck your shit up, they'll have France and the USA down your throat and up your ass within a week. Don't do this unless you have the nukes to back it up.
Carson Evans
Arab spring, they grew too powerful without jews. Guess what came next.
Jayden Hernandez
Irrelevant bullshit for 200 please!
Angel Carter
>Daily reminder the first country to eliminate their central bank and allow free market banking will have the highest living standards on earth within 5 years. you mean will get carpet bombed to oblivion
Jack Nelson
>And really, if you're just going to inform yourself with far left sources like npr and not read anything to the contrary, why bother? The article presented the other side's point of view and even said the statistic the study reported didn't necessarily indicate a cause-and-effect relationship between higher minimum wages and higher job growth.
>Raise it to $50 or 100/hr, then we'll really have a lot of high paying jobs! That's absurd and totally misrepresentative of my side of the argument.
Grayson Rodriguez
This. You should trust Germany, they had the first-hand experience back in the 30's and 40's.
So did us Serbs, back in the 90's.
Samuel Ross
>The article presented the other side's point of view Yes. I bet you get a real good view of the "other side" when it all comes thru the filter of the left-wing media.
Glad to see you posted a response to only which you felt comfortable with, and not the actual idea I conveyed across most of the entire post.
That's my queue to leave, I have nothing to say that you want to hear.
peace
Thomas Lee
It's the period where workers went from 46 to 68 of life expectancy in 20 years.
Bentley Gomez
>Glad to see you posted a response to only which you felt comfortable with, and not the actual idea I conveyed across most of the entire post. Thats because it was a fucking wall of text and I got distracted by the last couple of sentences. Let me reply to the main idea.
I disagree. More money in the pockets of workers because of a higher minimum wage is a good thing whether or not the company's profit margins suffer at the same time. Paying workers is such a small part of many business' budgets that it wouldnt be enough to shut them down but merely cut into the profits. For example, if the business spends 20% of is budget on paying workers, an increase to $15/hr would only mean 20% more spending.
>I bet you get a real good view of the "other side" when it all comes thru the filter of the left-wing media. I don't read left wing media very often. NPR is just the most reputable site which reported on the study. Besides, anybody who doesn't know the conservative point of view on this issue has their head up their ass. >business owners would rather cut back staff to offset pay increase per worker than increase pay alone >this leads to higher unemployment
Caleb Adams
t. economically illiterate retard free market banking is even worse than an independent central bank Private banks already create most of the money anyways. >Daily reminder America never had a system of free market banking. Oh wait you are retarded
Nathaniel Murphy
>This is how you have your nation "liberated" by NATO and turned into a Judaic ruled hellhole
>DUDE DON'T FREE YOUR ECONOMY OR THE JEWS WILL USE THE US MILITARY TO DESTROY YOU
We at least have to try.
Charles Baker
Did you notice how you didn't actually reply to his main point even though you're saying you are?
Also >I already know everyone else's view You don't. But if you believe that maybe you should just fuck off.
Xavier White
>Do you have any actual proof for such bizarre dystopian bullshit theories? Yes, america during the gilded age. America during the 1950s when the central bank created money but created very little.
Switzerland today.
Jacob Sanders
you are economically illiterate
>free market banking is even worse than an independent central bank Then why was the free banking gilded age in america very stable and resulted in a massive increase in economic production and wages?
You literally have no argument and are a brainwashed keynesian.
Eli Scott
also
>Private banks already create most of the money anyways. because they get it from the fed
in a free market they wouldn't be allowed to do this
Levi Edwards
Nazis nationalized the banks you idiot, and printed money. Next you faggots will say that hitler was an ancap.
Parker Young
>stable >banking panics every day >because they get it from the fed No. fred.stlouisfed.org/series/MULT Reserves have almost nothing to do with money creation in modern banking, except for setting the top limit but that limit is never reached. >in a free market they wouldn't be allowed to do this Then who would create the money? Or are you suggesting using commodity money?
Brody Morris
>Nazis nationalized the banks you idiot, and printed money. you brainwashed retard yes they took over the banking industry, but at the start they issued debt free money and barely inflated it, they only started to inflate it when the war was going on to fund the war.
the nazi economy was so successful at the start because they implemented a semi free market currency, they fucked it up later though
also pay denbts grease
Samuel Perry
>not everyone can supply $15/hr worth of work How small is that subset of people compared to the overall number of workers on mimumum wage? Fuck them. Not everyone can keep up, and that's fine. It doesn't mean we should halt something that would benefit so many for the sake of so few.
>I already know everyone else's view. I never claimed that. I said I'm familiar with the popular conservative point of view on the issue and then demonstrated that in response to the person accusing me of being aware of only one side.
Jason Scott
>obama leaf redemption arc
brings a tear to my eye
Ayden Rogers
>>banking panics every day lmao these "panics" only happened when the government intervened in the banking industry or set up central banks.
The period that had a mostly free banking system 1870s to 1890s had almost no panics and the ones that did exist were the result of government intervention countless books have been written on this subject you're just to retarded to read
>Reserves have almost nothing to do with money creation in modern banking, except for setting the top limit but that limit is never reached. Okay, so banks are literally allowed to create almost unlimited money out of thin air. How is this a fucking good thing?
>Then who would create the money? Money would be based on gold/some form of digital currency, or the currency that already exist will continue to be currency but the government wouldn't be allowed to create money of it and the federal reserve would be abolished.
I like the third option.
It would be a deflationary economy. inb4 muh deflationary spiral myth
David Wilson
>semi-free market There you go. It was govt. controlled with the govt. issuing the money and yes it being actual fiat instead of debt.
Lincoln Allen
>obama leaf Yes, leftists deserve to get destroyed by arguments.
Joseph Cruz
Yeah, that's why before the war Nazi Germany was swimming in debt.
Natonalized banks =/= free banking
David Gray
>Fuck them. Not everyone can keep up, and that's fine. It doesn't mean we should halt something that would benefit so many for the sake of so few. Just another welfare recipient to bolster the Democrat voting block, amirite?
Jason Hill
>There you go. lmao holy fuck
man you're just desperately LOOKING for a strawman argument
put it this way, the majority of american history had excessive government involvement in the banking industry, this period 1870 to 1890 had a system of mostly free banking except for a few exceptions in specific areas in specific points in time, these exceptions caused problems yes, but clearly the solution to these minor problems was to get the government 100% completely out of the banking sector than have it 95% out of the banking sector.
>It was govt. controlled with the govt. issuing the money It wasn't though AHAHAHA
It was a gold based system where banks issued their own money based on deposits. They couldn't print money than they had in deposits.
This time was the greatest increase in economic production in american history. Cry harder.
Ryan Wilson
>Yeah, that's why before the war Nazi Germany was swimming in debt. They were smart and canceled their government debt. Which is exactly what libertarians want to do.
Jacob Hughes
>The period that had a mostly free banking system 1870s to 1890s had almost no panics and the ones that did exist were the result of government intervention Right. The govt. rarely intervened during that time and the fed was created as a response, not a cause. "At the time, like today, New York City was the center of the financial system. Between 1863 and 1913, eight banking panics occurred in the money center of Manhattan. The panics in 1884, 1890, 1899, 1901, and 1908 were confined to New York and nearby cities and states." >Okay, so banks are literally allowed to create almost unlimited money out of thin air. >How is this a fucking good thing? It's free market my friend, isn't that what you want? But yes it's a bad thing which is why you have the govt. issuing the money and not the fed/banks. >It would be a deflationary economy. >inb4 muh deflationary spiral myth It's not a myth. Discouraging spending/investment is not a good thing.
Robert King
It's better to tackle one issue at a time then have to go on a giant blog post explaining why heroin addicted dog-fuckers won't be buying one foot parcels of land around your house and walling you off so you suffocate to death in darkness for launching a TOW missile at their child bride
Alexander Sanders
Oh well. The net gain in the situation of a $15 federal minimum wage would be greater than the net loss from firing that small subset of the workforce in my opinion.
Brandon Reed
This. The expulsion of (((them))) must occur in US and several other powerful states for the takeover to be succesful in the long run.
There will be a global crisis that will provide the opportunity but I'm pretty sure the bluepilled masses will go along with the Atlas Shrugged scenario.
Liam Allen
Exactly. OP is describing the endgame alleged of the "chosen": enslave the world. An ethical state's prosperity shouldn't be contingent on the suffering of those who fall outside its borders
Cooper Jones
>Right. Yes right you gigantic fucking retard. Are you this ignorant of history?
>The govt. rarely intervened during that time and the fed was created as a response, not a cause. The fed was created by elite bankers to take over the economy. If you weren't brainwashed you would have realized this.
>1899, 1901, and 1908 After the period of free banking. :^)
You simply cannot win.
The free banking period of 1870 to 1890 created the l
Since the federal reserve has been created we've had tons of long lasting recessions AND the great depression.
>It's free market my friend Creating money out of thin air when you don't actually have the deposits is called FRAUD. It's anti free market. Banks that did this during the period I'm talking about were prosecuted. You probably want to give them unlimited power because you're a cuck.
>But yes it's a bad thing which is why you have the govt. issuing the money and not the fed/banks. Thanks to them we have economic stagnation, poverty and recessions.
>It's not a myth. Then why did the gilded age have constant deflation for 30 straight years with massive levels of economic growth. The kind unseen today?
EXPLAIN THIS YOU LITERALLY CAN'T Inb4 you claim that "it was the industrial revolution so economic laws didn't matter back then" lmao
Kevin Turner
*The free banking period of 1870 to 1890 created the largest growth of economic production in american history.
Landon Nelson
The gain being loss of freedom (you might not be interested in this, you unamerican fuck) and higher youth unemployment? Your shitty Washington State has over double the youth unemployment compared to good states like North Dakota. You know those kids complaining about how they can't get experience until they have a job, but can't get a job without experience? It's because the low paying jobs that exist FOR Inexperienced kids are gone, and now they're in their 20s and someone is looking at the resume of an adult who has never even worked a day in their life.
Not surprising Seattle youth unemployment is -at least 2% worse than the rest of the state.
The best place for a young person to be in Washington when looking for their first job is near the Idaho border, rather than around double the unemployment of shitty Washington.
Juan Cooper
>DUDE UNEMPLOYMENT IS GOOD LMAO >DUDE AUTOMATING MINIMUM WAGE WORKERS OUT OF A JOB IS GOOD LMAO
kill yourself
Josiah Williams
Daily reminder each State in the United States is it's own sovereign country and is perfectly able to set up a State-owned bank. North Dakota has one, and yours should, too.
Jayden Mitchell
>Daily reminder each State in the United States is it's own sovereign country Agreed.
>and is perfectly able to set up a State-owned bank Terrible fucking idea. Central banking is fucking shit.
James Murphy
>linking austrian economics website I'm sure they don't have an agenda. The 2 crisis you are referencing both seem to be caused by over extension of credit and bank failures before govt. action. Those years did not see massive inflation either. >After the period of free banking. :^) fed was created in 1913 >Then why did the gilded age have constant deflation for 30 straight years with massive levels of economic growth. The kind unseen today? It wasn't deflationary. It was near 0 inflation but you had gold mining to increase the money supply. Industrialization, population growth, westward expansion were caused the growth. businessinsider.com/chart-inflation-since-1775-2013-1 Yes it's good as if it's cheaper for a robot to do the job than a human.
As for germany what I'm referencing are the fiat issued to build infrastructure by this guy en.wikipedia.org/wiki/Gottfried_Feder although wikipedia doesn't mention it.
Adam Perez
The state-owned bank exists as a way to counterbalance the nationally-owned bank. Obviously local banks (and better yet credit unions) should be doing most things, but sometimes the state needs the capacity to step in and take care of things, fund major infrastructure projects, etc.
>fed was created in 1913 No shit. Why is your reading comprehension so shitty. I told you the free market period was from 1870 to 1890. 1890 and after the government started to interfere in the banking industry heavily again. and guess what happened? BANK PANICS!!
>It wasn't deflationary. LMAO ARE YOU LEGITIMATELY RETARDED.
During this period there was almost no inflation. There was a system of mostly free banking. It was illegal for banks to create money out of thin air. This period had massive economic growth where prices fell year after year after year while wages were RISING. You're so fucking stupid you don't even know about this common fact.
>but you had gold mining to increase the money supply. Yes, like I said there was a small amount of inflation, extremely small. The overall deflation was much much higher so prices constantly fell.
>Industrialization, population growth, westward expansion were caused the growth. No shit, the deflation of capital goods caused this allowing for firms to benefit from lower capital goods. If prices increased instead of decreased, it would have hurt them.
Hudson Evans
>The state-owned bank exists as a way to counterbalance the nationally-owned bank. Why not just get the government out of the banking industry entirely and let the free market run the banks so they will be smaller and more in line with community/economic need?
>fund major infrastructure projects, etc. Bullshit. The state takes money away from the private sector so it can do a shitty version of these major infrastructure projects. Let the private sector keeps this money and capital so we can have bigger and greater infrastructure projects.
Jaxon Miller
We found out the reason why after Andrew Jackson got rid of the Rothschild foreign private central bank of the time. In its absence, other foreign private banks were able to collude to cause panics until the people were scared in to accepting the Federal Reserve Bank.
In my opinion, one of the legitimate roles of the government is to act as a collective counterbalance to the corporate collectives. It should stay out of things to the best extent possible, but when one of the legitimate roles of the federal government is to provide for national defense, then that includes being able to provide for defense against financial enemies, foreign and domestic.
Luke Reed
here's another source nearly every single PAGE has sources some linking back to the 1800s.
A nominal reduction in demand leads to a real reduction in supply.
aka deflation is economically destructive.
Christian Hughes
>In its absence, other foreign private banks were able to collude to cause panics because the government didn't enforce free market banking practices and literally gave banks the right to print unlimited amounts of money
no wonder there were panics
Nathan Hall
>aka deflation is economically destructive. When why did the gilded age have massive deflation and resulted in a massive level of economic production year after year?
Explain this.
William Wright
Indeed. More examples of how the government fucks up most of the time. But government is still a necessary tool.
Don't forget: the US switched from the Articles of Confederation to the Constitution in part because it wasn't organized enough to muster the military force to fight off the Brits. This is why I advocate for increasing state and local government power back to where it should be: the federal goverment is important but it sucks and it's out of control; state and local level organization allows for wresting control that individuals don't have at the federal level anymore.
So you can see the allegory here where if a state had a state bank it wouldn't need to be as dependent on the national bank or the trans-national banks as they are currently. This provides for a means of state defense from financial enemies, foreign and domestic.
Aiden Sanders
en.wikipedia.org/wiki/Long_Depression m8 you had a recession during your free banking years. I assumed you were correct in saying there was economic growth but you're not.
Josiah Myers
just break the usa and canada up along ethnic and ideological lines senpai
Jonathan Bell
I've long been a fan of an exchange program where the US trades a socialist for a Canadian freedom-lover.
Aiden Walker
Minimum wage jobs going to youths is just a meme. Minimum wagers' "average age is 35, and 88 percent are at least 20 years old." nyti.ms/1pUGFyF
Helping the 88% by somewhat hurting the 12% is fine in my book.
Lucas Morgan
Not when I was growing up. Kids used to do the jobs American's allegedly refuse to do, and it was pretty standard to move up to a minimum wage type job upon achieving working age so that you had something to put on your resume when you got out of school and got a real job.
Now it's illegals doing the jobs kids used to do, and 40 year old women competing with college grads for a job at the grocery store.
>en.wikipedia.org/wiki/Long_Depression kek I provided you with a bunch of shit that disproved your other points so you come up with this little side argument. I guess we're at the bottom of the barrel then. Alright, I'll bite.
The long depression wasn't even really a depression. >Some economic historians have complained about the "great depression" that is supposed to have struck the United States in the panic of 1873 and lasted for an unprecedented six years, until 1879. Much of this stagnation is supposed to have been caused by a monetary contraction leading to the resumption of specie payments in 1879. However, this "depression" saw an extraordinarily large expansion of industry, of railroads, of physical output, of net national product, and real per capita income. As Friedman and Schwartz admit, the decade from 1869 to 1879 saw a 3-percent-per annum increase in money national product, an outstanding real national product growth of 6.8 percent per year in this period, and a phenomenal rise of 4.5 percent per year in real product per capita. Even the alleged "monetary contraction" never took place, the money supply increasing by 2.7 percent per year in this period. From 1873 through 1878, before another spurt of monetary expansion, the total supply of bank money rose from $1.964 billion to $2.221 billion—a rise of 13.1 percent or 2.6 percent per year. In short, a modest but definite rise, and scarcely a contraction.[1]
>I assumed you were correct in saying there was economic growth It's actually an economic consensus that there was massive economic growth during this time. This was the era of vanderbilt/rockefeller/carnegie. The largest industrial revolution in america. Wages increased dramatically and were the highest in the world during this time. Massive amounts of people came from europe to work in american factories during this time too.
Brandon Hughes
it'll be like the NHL draft
John Hernandez
Do you honestly think that young people aren't primarily effected by minimum wage? Why do you want to hurt teens by preventing them from getting their first job and work experience?
Jackson Wilson
>I provided you with a bunch of shit that disproved your other points so you come up with this little side argument. I guess we're at the bottom of the barrel then. Because my points relied on believing you when you said it was economic growth. en.wikipedia.org/wiki/Long_Depression#/media/File:US-GNP-per-capita-1869-1918.png Then how come the per capita GDP didn't grow?
Mason Wood
Daily reminder that the first country to remove a Rothschild owned central bank will be invaded and destroyed by another country with a Rothschild owned central bank.
Automation has been happening since the Industrial Revolution. It has been crippling the labor sector for decades now, so it's not like keeping the minimum wage where it is will somehow stop it. It'll happen regardless of an increase or not, and, from what I've read on the cities that have adopted a $15 minumum wage, job growth has been higher than the national average.
Easton Butler
>Then how come the per capita GDP didn't grow?
>he actually believes the GDP is an accurate measure of economic growth how embarrassing the "GDP" went up for america during WW2 when there was massive food rationing and most of the country was enslaved fighting a war
the "GDP" goes up in china when they build ghost cities.
You're an idiot, fuck GDP. Real economic growth is where prices come down and real rise, which is exactly what happened during the times I stated. Stay brainwashed.
Christopher Howard
>DUDE YOU CAN'T BEAT THE SYSTEM, LET THE JEWS DESTROY US AND OUR RACE
Kike detected
Owen Thomas
>Automation has been happening since the Industrial Revolution. So?
>It has been crippling the labor sector for decades now, no, it hasn't. We would actually be poorer without it. The economy is stagnant for other reasons.
>so it's not like keeping the minimum wage where it is will somehow stop it Yes, yes it will. Min wage jobs are usually very easy and the easiest to automate. Fast food workers will be hurt the most from it.
Why do you hate workers so much?
>from what I've read on the cities that have adopted a $15 minumum wage, job growth has been higher than the national average. You've been fed propaganda.
>Now it's illegals doing the jobs kids used to do Because no American wants to work those jobs for minimum wage.
>40 year old women competing with college grads for a job at the grocery store The value of a college degree has gone down the toilet because of things like gender studies degrees, and many people in their later years got by with only their highschool diploma but now have trouble finding a job in a degree-focused market.
Oliver Morgan
>forgetting about internships and volunteering That's how I got my experience for resumes.
Alexander Brooks
>Because no American wants to work those jobs for minimum wage. younger americans do
they used to a lot more as well before the minimum wage
you just fucked over their employment opportunities
now a young teen and an adult would make essentially the same wage, companies would much rather hire adults than teens
you're fucking over teens
Ryder Clark
I thought mowing lawns as a kid was pretty rad. I was the baller in my group of friends, and I saved up enough money to buy a nice computer.
Then I bought an even nicer computer to take to college with me, since I was getting a CS degree, which, at the time, was less of a Pajeet can make you a web site type thing.
Brayden Sanchez
>>forgetting about internships and volunteering lmao if it wasn't for minimum wage jobs, internships would actually pay SOMETHING instead of nothing
it's the minimum wage why internships exist these companies could pay these people a small wage instead of ZERO DOLLARS
because you, these inexperienced people get ZERO DOLLARS
fuck off you dumb authoritarian faggot
Hudson Barnes
I got paid for my summer interships. People actually work for free these days?
William Martinez
>People actually work for free these days? thanks to the minimum wage and our stagnant shitty economy yes
Charles Fisher
That's absurd. Meanwhile we're paying for more low-skill immigrants and for non-productive illegals.
I mean, I don't hold it against anybody who has somewhat relevant volunteer experience on the resume if that's the best they could do or wanted to do. That still shows initiative and experience. But when we start calling an volunteer work an "internship" and thinking this is normal, that's a very bad sign.
Liam Hill
>It has been crippling the labor sector for decades now, >no, it hasn't. "Since the 1990's, several trends, such as the rise of China, globalized free trade, and supply chain innovation, have arguably resulted in the off-shoring of thousands of U.S. manufacturing facilities and millions of manufacturing jobs to lower-wage countries." en.m.wikipedia.org/wiki/Manufacturing_in_the_United_States#
>Yes, yes it will. Min wage jobs are usually very easy and the easiest to automate. Fast food workers will be hurt the most from it. The federal minimum wage has only been barely keeping up with inflation for years now, and yet we're still seeing increasing automation in the service, labor, and manufacturing industries. That proves keeping the minumum wage where it is won't stop automation.
>When Puerto Rico and American Samoa put in higher minimum wages it made the unemployment rate shoot up like crazy and major companies laid off a ton of workers. Okay, so in the presence of both good (Seattle, California, and other cases) and bad responses (Puerto Rico and American Samoa) to increased minimum wage, I think we can conclude that it's not automatically a bad thing.
Landon Brown
That's going to happen when a country's economy completely switches focuse like ours has in the past 40 years. The older people who have been left in the dust by the changing landscape need to work somewhere, so they settle near the bottom in low-paying jobs that used to be reserved for youths. I'm not sure it's necessarily a result of the minimum wage.
Hudson Clark
Should we sacrifice the 88% percent of minimum wage workers who are adults and struggle to pay their bills for the 12% who are youths and don't have bills yet, or should it be the other way around?
Connor Bailey
>People actually work for free these days? It's how (((they))) keep the poors out of their hoity-toity NGO sinecures and prevent actual work from being done.
Blake Smith
Your hilarious ineptitude with economics is well transmitted through your belief that changing one variable alone albeit a significant one will have that much effect on the growth prospects of a nation, why does pol always think changing one thing will fix everything, there's many problems and many solutions, I would disagree with you on this one, but desu whether or not a country needs a central bank is an opinion and there's pros and cons to both, if we could shore up the business cycle a bit and stop crashing every ten years then a free market financial economy would be great, but that's something we gotta work on. But yeah removing banking regulations wont have that huge an effect. As sad as it is it really depends on the markets available to a nation, free market Somalia is always gonna be beneath European Poland even if the cost of capital is free because in the end being within the European market is more valuable than cheap capital, that's just one of the variables involved. There's too many to say any one will completely fix all problems
Kevin Collins
So many cucks in this thread defending big banks and the fed. Kek Sup Forums has really been compromised.
Juan Gray
You have to bear in mind that in the case of the US, our central bank just sucks money out of the public and into the pockets of the private owners. All that income tax people pay does not actually fund any government services. It just gets stolen, basically, in the form of interest payments.
Were the interest payments to be reinvested in to the economy instead, then that one thing would make a tremendous difference. As things are, it's a system rigged to collapse the economy.
Jose Brown
>I-it's not real capitalism
Elijah Murphy
But it's clearly not if you read OPs post.
You'd have to be an absolute retard to think central banking is free market or capitalism.
Luke Garcia
I remember when 2012 Sup Forums had multiple threads about central banks daily.
