About Socialism

Your claims of monopsony are a crock. There are hundreds of thousands of employers out there.

 

Don't equate the British min wage with the American one. The British min wage was considered a living wage, the American min wage is not.

 

The British minimum wage isn't a living wage though. The Tories called it that to pretend that they care. Inane marketing!

 

Fail? What do you think you've been using throughout your life?

 

That's because capitalism is not based on what is necessary or what will conserve resources.

 

Like Zimbabwe?

 

In my opinion, Firms leaving for merely cheaper wages should require that their CEO gets paid in the local currency, at par.

 

Like almost all economies today.

 

I think you mean to say by most states today. You understand that the state and society are not the same thing. No more than a tick and a dog are the same thing.

 

Most economies. Those who are not included do not use money, and there are very few of them worldwide.

 

Most economies are controlled by states. In fact I don't know of an economy that isn't controlled by a state. Do you?

So your point is that most states impose fiat money on their subjects. So?

 

Economies are controlled by states because states represent the people who are part of that economy. However, some private groups can influence a state to work in its favor. A good example is the U.S., where money supply is controlled by a private consortium of Wall Street Banks.

Also, it's not so much states merely imposing fiat money as businesses requiring the latter for more efficient transaction and trade. Hence, we have most economies using it.

 

Right, so we agree that it is only through states that fiat money exists. Otherwise people would be using market money. So they are required to use the sub-optimal choice. Typical of the state.

 

what happened to bitcoin?

 

Actually, through businesses that require states to make paper money legal tender so that trade would become more optimal.

At the fringes are those who use "market money".

 

Nothing, as far as I am aware.

 

You are aware that businesses existed long before 1933, right?

 

The point isn't the presence or absence of businesses but optimal means of transaction and trade. As more resources from the New World arrived to Europe, bank notes were used, and after that currency with value backed by the state as private banking was prone to failure.

That's why you won't see any large economies today that don't use fiat money.

 

No that's not why. The reason why is that every state sees an advantage in controlling the supply of money to its benefit, and the benefit of it's cronies.

Fiat money wouldn't exist if states didn't impose them by force.

Did you know that Roosevelt actually banned the possession of gold as part of imposing fiat currency. If people actually preferred fiat currency, why would market money need to be banned by the state?

 

Of course, not. Much of money is created by commercial banks.

Fiat money existed not because they were imposed on businesses but because they lead to optimal trade. In contrast are different bank notes that were not accepted by all traders.

Roosevelt banned possession of gold in order to keep the value of money propped up and as part of the means to end the Great Depression. That money was created by the Fed, which was a private consortium of Wall Street banks. Guess what caused the Great Depression?

Globally, gold wasn't banned by governments. Rather, people found bank notes to be more convenient. Fiat money made those notes stable.

 

Its tough for America workers to compete with slave labor in dirty countries overseas unless we have tariffs

 

Labor costs should be excised to first world parity. Firms should be not be allowed to leave for cheap third world labor from our first world economy.

 

Yo7 are sort of on the right track

Firms should be allowed to leave if they want

But if tariffs are high enough they wont

And of they stay they will naturally have to pay American workers a higher wage

 

They can leave for any reason but Labor, without Cost.

 

No it isn't. You compete through productivity. Tariffs will just destroy economic activity.