CEOs Start to Back Progressive Wages Hikes

17
379


Progressives already knew the positive impact that higher minimum wages have on the economy and how they stimulate aggregate demand. Unfortunately many big corporations like Walmart and McDonald’s (to name just a few) have been systematically opposed to such a therapy. But there is a glimmer of hope for our cause, as some CEOs and influential businessmen show an unexpected empathy for people who have some difficulties to make end’s meat. They do not necessarily raise their employees’ salaries right now, but at least they feel no shame about showing their progressive views in the accredited media and addressing the concerns of those who fear that a mandatory wages hike for all employers who use cheap labor could harm the economy.

John Betts, president of McDonald’s Canada, said recently that a $15 minimum wage shouldn’t be a concern [1], and two provinces (Alberta and Ontario) have already decided to go forward. Although M. Betts is not as much vocal than Mark Zuckerberg, who is an active promoter of a universal basic income [2], he is not alone to show so much openness to progressive ideas. Jamie Dimon, from JP Morgan, showed once again his philanthropic nature by announcing a pay rise for his minimum wages workers [3] while Bill Phelps, the owner of a big fast food chain, is also enthusiast about raising the minimum wage [4] . The record is probably owned by Dan Price, the owner of an IT business, who announced that the minimum wage for his (white collar) employees would be $70,000 per year [5], which should be seen as a sufficient beginning for the universal basic income as well.

The main opposition to a $15 minimum wage comes from selfish, whining, small entrepreneurs, who claim that this could boost inflation or drive them out of business. If it was so true, wouldn’t we expect Jeff Bezos to share their concerns? First, there are good indications that using more robots (at least for those who can afford the initial investment of 35K per robot) can be cheaper than paying $15 per hour over a period of five years [6]. Already in Asia, such robots are used to serve meals and tactile screens replace the cashiers.

Unfortunatelly white (rather than black) robots are used in China

Amazon is also a pioneer, as one of their employees over 7 is actually a robot [7]. One shouldn’t be too concerned about lost jobs, as the universal basic income will allow former low paid employees to spend more time on Facebook, the Accredited Times, and fight for progressive causes. The more our government makes the slogan “Faulheit Macht Frei” his own, the more we will see millions of new SJW embracing the doctrine defined by our leaders and becoming their foot soldiers in order to get their well deserved food stamps. Only Anon and his buddies will encounter some problems to get their chocolate rations due to a permanent computer glitch.

The elimination of small entrepreneurs will have a positive impact and speed up the advent of a cashless society. The disparagement of small, noncompetitive restaurants and groceries may lead to restricted product choices, but consumers will ultimately benefit from this. Indeed, the lack of competition will allow big fast food chains to focus more on improving the quality rather than to reduce the portions or quality in order to offset their losses caused by their competitors. Even if some cast doubts on food of a dubious quality, or the lack of diversity, perhaps the next Jeff Bezos will run a giant vegetarian chain stores that accept only accredited digital money?

Who wouldn’t salivate on seeing those Soylent Greens?
The secret process to cook vegetarian Soylent Greens

[1] http://www.journaldemontreal.com/2017/08/15/un-salaire-minimum-a-15-de-lheure-est-possible
[2] http://www.businessinsider.com/mark-zuckerberg-basic-income-harvard-speech-2017-5
[3] https://www.cnbc.com/2016/07/12/jpmorgan-chase-raises-pay-for-minimum-wage-workers.html
[4] https://ww2.kqed.org/news/2017/01/03/minimum-wage-goes-up-and-so-does-business-thats-what-this-fast-food-ceo-says-happened/
[5] http://www.businessinsider.com/dan-price-gravity-payments-employees-leave-2015-7
[6] http://www.foxbusiness.com/features/2016/05/24/fmr-mcdonalds-usa-ceo-35k-robots-cheaper-than-hiring-at-15-per-hour.html
[7] http://bfmbusiness.bfmtv.com/entreprise/chez-amazon-1-employe-sur-7-est-desormais-un-robot-1077619.html

MillionDollarBonus

Nice one JFB. Professor Alan Kruger from Princeton university has already proven incontrovertibly that increasing the minimum wage can actually INCREASE employment. He did this by measuring simultaneous increases in wages and employment in a small section of America over a short period of time. If these two variables are correlated in one place, during one period of time, then they must correlate everywhere all the time. I mean it makes sense that if you pay people more, you would probably hire more of them – that’s just simple supply and demand from a Princeton professor.

Shitty
Shitty

CEO luxury lifestyle is communism and socialsm for their very own circle, (which is good for the economy). But raising wages fo workers will make such huge impact on prices! In fact workers must pay for the privilege to work under command of these smart and talanted people to make their bonuses and mood even higher.

Black Lives Matter

If the minimum wage isn’t higher, how else will workers be able to afford the company’s products???

MillionDollarBonus

Good point. This also harps back to one of the AT’s earlier articles, pointing out that consumers are the driving force behind the economy, not businesses. Many progressives have explained this to me in detail, with a sense of smug self-satisfaction born out of their own virtuous spending habits.

Consumers Create Jobs, NOT Businesses

Vladmir Putin
Vladmir Putin

The Pope bumped his head on the PopeMobile, 99% of the scientists, including the Pope believe this is due to global warming. History will judge us, if we don’t run the refrigerators at full blast, to cool the earth.

Black Lives Matter

Disgusting.

trav777

that was so racist

Black Lives Matter

I really enjoy jfb’s articles. Not only are they progressive, but they’re also always well-sourced.

trav777

That’s because it isn’t “global warming” like the low IQ commoners latched onto

wpDiscuz