3min chapter

Debunking Economics - the podcast cover image

What’s the right wage?

Debunking Economics - the podcast

CHAPTER

How to Increase Minimum Wage in Food Manufacturing?

It's more expensive to pick stuff locally than it is to have what you perceive as being more expensive stuff shipped around the world. Britain hasn't had to industrialise because it's paid such lousy wages. So if you could have learned during the industrial revolution? Okay, so final point then. If we increase minimum wage, people's spending increases, therefore consumption increases. You are going to support local industries presumably. Yeah,. I mean, like one of my favourite examples of wage rises, and people must be aware of this, I was very aware of it at the time, Singapore. It's a very unusual society. It's got enormous amount of on-tree port activity in its exports

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