Did you deliberately miss the point or are you just trying to point score. I was wondering why you didn't link wage rises and productivity?? Avoiding the issue??Only an idiot like yourself would think that an economy based on real productivity and low unemployment that benefits workers with higher wages is the same thing as the government mandating higher wages through wealth redistribution.
I have a degree in economics, and I am telling you that the economic effects of a minimum wage increase and a higher tariff are about the same, though a tariff is probably worse since a tariff creates a dead-weight loss of wealth in the economy whereas a minimum wage increase shifts the demand curve for labor without inducing a dead-weight loss.
The reason why leftists support both tariffs and minimum wage hikes is because they believe both induce demand. You, without knowing it, are making a leftist economic argument. Both higher tariffs and higher minimum wages are the government coming into the market and dictating prices.
And you have it completely backwards about productivity. Tariffs reduce productivity, not increase it. We've known this since the 19th century. Tariffs reallocate wealth to less efficient industries that cannot exist without protection. It is an axiom in economics. This destroys wealth since capital is allocated within the economy less efficiently. Tariffs are a bane to capitalism.
If a 45% tariff is imposed on Chinese or Mexican goods, then companies will either increase their investments in automation - no, those jobs aren't coming back - or they will route the goods through some other jurisdiction not subject to the tariff, and come into the country anyways.
Donald Trump is lying to you. He is making promises he cannot keep. Those jobs aren't coming back.
I have a degree in economics,
From where?? And I agree on tariffs etc. Seems odd that you're a lefty; you seem unable to link wage rise and increased productivity?? Why is that??
Greg
An increase in wages because of tariffs or minimum wages doesn't increase productivity.
And I'm not a lefty, you idiot, at least not in economics.
Greg
In theory, rising productivity means rising wages. However, that link appears to have been broken over the past three decades. Instead, the gains have accrued mostly to capital.
Now, why are you talking about rising productivity? What point are you trying to make? That has nothing to do with tariffs. Or are you just as obtuse as SJ?
You said raising wages was related to raising the basic wage. I said it should be linked to productivity. Raising wages without increasing productivity is anathema to a conservative economist. So were you a bank Johnny or a Gov employee??
Greg