This seems to hit pretty hard. One needs to study it and investigate to learn more. "A well-known, liberal economist was discussing the increasing polarization of wealth in the US, the second anniversary of Occupy Wall Street, and the minimum wage, among other issues, the other day on a relatively popular radio program. In addition to his other remarks, the economist (who once served as Labor Secretary) noted that when it is adjusted for inflation the minimum wage is today lower than ever. He also added that if the minimum wage were adjusted for productivity levels, it would amount to something like $15 an hour in today’s dollars. Among other things, he suggested something that on first blush sounds entirely reasonable, but on further reflection seems highly problematic. For the economist suggested that, in general, economic conditions would be markedly improved if fast food workers were to receive an hourly wage of something like 15 dollars. Not only would more people be able to afford a higher quality of life, he argued, but the increased money in circulation would create even more jobs. Yet while such a wage raise would undoubtedly alleviate much short-term misery, it would do little to correct deeply-rooted socioeconomic problems in the long-term. For even if, for argument’s sake, all fast food workers received livable incomes, not only would there still be a huge pool of unemployed and underemployed people in the world (even fast food jobs are hard to come by these days), the production of meat, according to a 2006 UN report, is so harmful that it imperils the livability of the entire planet. Not only does the meat industry pose more of a harm to the planet’s water, air and soil than the automobile industry, its harms extend beyond the general environment: the employees of the fast-food industry systematically suffer occupational diseases; the people who consume, and increasingly rely on, fast food for inexpensive nourishment suffer all sorts of serious health problems as a result; and, of course, these harms extend as well to all of the other animals slaughtered in the process – not to mention the forests and ecosystems destroyed to create pastures for raising animals. To be sure, rather than raising wages and further “developing” the fast food industry, a sane political-economy would work toward banning this ecocidal industry altogether."
Posted on: Mon, 23 Sep 2013 22:56:26 +0000
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