I drink your milkshake! a metaphor for capitalism

[1989]

i was listening to richard wolff's monthly economic update. he was commenting on how swedish company IKEA is now providing its workers with 18 weeks maternity leave in america by volition of the free market. he then commented how swedish workers have 68 weeks maternity leave which is planned by government law and its been that way for a long time.

he then mentioned that in the free market in america, 30 of the 60 biggest US corporations provide no maternity leave for their workers and the rest provide just a fraction of what pretty much every other developed country plans by law. he also mentioned something about american workers being male or poor or i forget what the other thing was which will decrease whatever minuscule maternity leave they receive.

How much does the average ikea worker make?

 

[1989]

ralph nader:
Thirty million workers today are making less in inflation- adjusted dollars than workers made in 1968, even though worker productivity is doubled."

What was the average yearly income in 1968? And what is it in today's dollars? What is today's average yearly income?

 

[DriveInDriveOut]

What was the average yearly income in 1968? And what is it in today's dollars? What is today's average yearly income?

 

[1989]

I came up with similar numbers. This chart disproves lil Ricky's post. It shows the middle quintile makes about 15% more than they did in 1968.

 

[DriveInDriveOut]

I came up with similar numbers. This chart disproves lil Ricky's post. It shows the middle quintile makes about 15% more than they did in 1968.

Doesn't disprove it actually. The problem is the quote he posted came with no context at all.

Nader was talking about the fact that minimum wage is less today than it was in 68'. No clue where the 30 million number came from though.

 

[1989]

Doesn't disprove it actually. The problem is the quote he posted came with no context at all.

Nader was talking about the fact that minimum wage is less today than it was in 68'. No clue where the 30 million number came from though.

$1.60 in 1968 is about $11.20. And minimum is $11.00. And $11.50 in 20 Pretty close.

 

[DriveInDriveOut]

$1.60 in 1968 is about $11.20. And minimum is $11.00. And $11.50 in 20 Pretty close.

Minimum wage is 7.25.

 

[1989]

Minimum wage is 7.25.

$11.00 here

 

[1989]

$11.00 here

$11.50 in 2018.

 

[DriveInDriveOut]

$11.50 in 2018.

That's nice. But we were talking on the national level, not just about your bubble. The minimum wage is $7.25.

 

[1989]

That's nice. But we were talking on the national level, not just about your bubble. The minimum wage is $7.25.

If I were a minimum wage worker, I would go to the place I could be the most successfully. Being an active participant in the US economy, I put capital to work where it can be most successful. Even though I am racist against Canadians, I will bring capital across the border.

 

[DriveInDriveOut]

If I were a minimum wage worker, I would go to the place I could be the most successfully. Being an active participant in the US economy, I put capital to work where it can be most successful. Even though I am racist against Canadians, I will bring capital across the border.

If you were a minimum wage worker, you typically wouldn't have the financial freedom to just pick up and move wherever you please.

 

[1989]

If you were a minimum wage worker, you typically wouldn't have the financial freedom to just pick up and move wherever you please.

Low wage workers move a lot. How could you afford not to make a one time investment?

 

[DriveInDriveOut]

Low wage workers move a lot. How could you afford not to make a one time investment?

The entire argument is a distraction. Your solution is everyone should move away from the problem and pretend like it doesn't exist.

 

[1989]

The entire argument is a distraction. Your solution is everyone should move away from the problem and pretend like it doesn't exist.

No, my argument is one should make good decisions for oneself. But if I thought that everyone could/would move away, wouldn't that fix the problem? If you can't hire anyone at $7.25 an hour, wouldn't wages rise? But many don't have that problem. You could start a state initiative to help in your state.

 

[DriveInDriveOut]

No, my argument is one should make good decisions for oneself. But if I thought that everyone could/would move away, wouldn't that fix the problem? If you can't hire anyone at $7.25 an hour, wouldn't wages rise? But many don't have that problem. You could start a state initiative to help in your state.

My state doesn't have initiatives.

 

[rickyb]

$1.60 in 1968 is about $11.20. And minimum is $11.00. And $11.50 in 20 Pretty close.

ralph was referring to the federal minimum wage which was at its peak of over $11 or $12 (not sure the exact number adjusting for inflation in 2016) in 1968 where it is now $7.25 meaning it has lost considerable value

 

[1989]

ralph was referring to the federal minimum wage which was at its peak of over $11 or $12 (not sure the exact number adjusting for inflation in 2016) in 1968 where it is now $7.25 meaning it has lost considerable value

This applies to less than half the country. And a small % of people in those 21 states.

 

[rickyb]

This applies to less than half the country. And a small % of people in those 21 states.

sure, but our concern should be first and foremost with those who have least amongst us.

 

[Brownslave688]

sure, but our concern should be first and foremost with those who have least amongst us.

Why?