> I wonder why I don't feel entitled to cheap caviar and cheap yachts?
Let's stick to discussing services.
In well-populated niches like construction, nursing, and software development, you can safely assume that competition will make the price of the service as low as it can reasonably go and still get acceptable quality.
If construction labor costs go up to whatever point you consider "fair", then the cost of the finished products will rise to compensate. If you extrapolate this out for the results of all super-low-priced labor, then lots of costs go up, and the middle class suddenly has less buying power than before. Why, they'd need a raise just to keep the same standard of living!
It's a web, you can't tug on one part without moving lots of others. The only "stretch" available in this web is people who are earning more than they are actually worth, like some CEOs or Waltons. Which, come to think of it, is not that dear to me. So okay, fine, let's start raising the minimum wage.
Let's stick to discussing services.
In well-populated niches like construction, nursing, and software development, you can safely assume that competition will make the price of the service as low as it can reasonably go and still get acceptable quality.
If construction labor costs go up to whatever point you consider "fair", then the cost of the finished products will rise to compensate. If you extrapolate this out for the results of all super-low-priced labor, then lots of costs go up, and the middle class suddenly has less buying power than before. Why, they'd need a raise just to keep the same standard of living!
It's a web, you can't tug on one part without moving lots of others. The only "stretch" available in this web is people who are earning more than they are actually worth, like some CEOs or Waltons. Which, come to think of it, is not that dear to me. So okay, fine, let's start raising the minimum wage.