Objectobot

Right now the product of your labor belongs to you, it is paid to you in the form of a salary, because that is what most people prefer. Do you deny that marxism requires collectivization of property? I am just trying to clarify what part you object to, so I know what part of the communist manifesto to direct you too.

@Objectobot Second question: What chapter of the Communist Manifesto are you referring to? Do you mind quoting it to really make your point?

I understood the reference. 😅

Marxism abolishes private property, as in property is collectivized. If property is collectivized the product of you labor does not belong to you, it belongs to the group, and the group decides how much and who gets it. If you participate in this voluntarily, it's not slavery. But if the group is taking the product of your labor by force, well then you are a slave. Under communism private property is abolished by force. Your participation is not optional, hence its slavery.

@Objectobot How so?

True story. "We had nothing under communism, now we have everything."

The research into minimum wages is very extensive, and most of the research shows a increase in unemployment in the impacted population relative to the degree of the increase. Now if you are talking about general unemployment, then sure. But that is because minimum wages do not affect majority of the population. Here you see the effects of minimum wages on teen employment. Pretty much every min wage hike decreased teen employment. Why teens? Bc they are easily identifiable demographic that is affected by minimum wages.

@Objectobot That is theory. Data doesn’t show much if any unemployment rise with minimum wage rises (assuming the rise is gradual).

Why are leftists so allergic to supply and demand? Why do they get so upset about this principle? It is essentially bc they want to eat their cake and have it too. They want to pretend that rent control won't diminish the supply of housing, they want to pretend that minimum wages don't cause unemployment, but mostly bc it's a constant reminder that the labor theory of value is bunk. That value is not determined by labor hours, but by the voluntary consent of those who are willing to trade with you.

@vasalex93 Supply and demand model is not a model about how to solve poverty. It just tells you the consequences of your plans to solve poverty. You want to solve poverty with price floors (minimum wage laws) the consequence is unemployment.

@Objectobot Because supply & demand alone doesn’t solve everything, like poverty. It doesn’t guarantee basics for those struggling. Govt programs disrupt the market by boosting demand, but they address real problems too.

@Reeevancedtwddr Look around the world, it's exactly in capitalist economies that understand basic economics that average folks tend to be much better off. Ignoring basic economics does help anyone.

@Objectobot Never forget that capitalists think economies that help people instead of extorting them are somehow economically illiterate because they are greedy sadistic sociopaths.

@YouTubeJEFF9K What a small mind you must have to call basic economics Republican.

@Objectobot Another advocate of the debunked Republican bullshit that gave us the #GreatRepublicanDepression and the #GreatRepublicanRecession

@Reeevancedtwddr Well then you want something even more economically illiterate, congrats.

@Objectobot Oh honey, we dont want rent control we want to force sale or expropriate (if they refuse to sell) all houses owned past a primary residence so we can use them to house people instead of gatekeeping a human right. Hope this helps!

@Economics21st Clearly it's not zero sum, or otherwise we would have no progress.

@Objectobot Supply and demand isn't as fundamental as this: economics21st.com/p/the-7-econom… We don't need to assume anything about people's decision-making to know that, apart from production and consumption, economics is a zero-sum game.

@SevenHolyTombs When you supply a skill that justifies that wage.

@Objectobot When is our demand for higher wages going to meet the Supply?

@ThomasMann51451 Revenue is never the problem, spending is the problem.

Reality is the final arbiter

Ayn Rand - "We are fast approaching the stage of the ultimate inversion..."