How to stop or solve the poverty in the Philippines?

[al1974]

Quote: Originally Posted by Vince Russo I believe that workers here already receive the "13th month" bonus, don't they? Also, remittances from abroad typically increase during the Christmas season anyway from due to the "giving" nature of the holiday. I think that it would be more accurate to refer to these two existing dynamics as being a part of the "current system" than it would be to claim it as a benefit of Hyperwage Theory... Neither the employer nor the family member abroad could sustain the above described monetary increases on a daily/weekly/monthly basis. It's hard enough doing it just one month out of the year.

Sorry- What I meant is that the Hyperwage Theory cites the 13th month as an example of "hyperwage" where employees receive twice their salary in a month- December

[scriptologist]

As long as the world monetary system is the same, there is no end to poverty....

The U.S. used the certificate bonds ( i think ) to boost their economy and to resolve poverty during the great depression and look at their economy now. They borrowed money from the Fed and now they're paying it with interest. Look for Ron Paul on Federal Reserve in youtube. To realize the hyperwage we need to do the same thing as the U.S., borrow a lot of money.

The only way to resolve poverty is to manage our resources wisely. Checkout zeitgeist venus project on youtube.

[Vince Russo]

Quote: Originally Posted by scriptologist As long as the world monetary system is the same, there is no end to poverty.... The U.S. used the certificate bonds ( i think ) to boost their economy and to resolve poverty during the great depression and look at their economy now. They borrowed money from the Fed and now they're paying it with interest. Look for Ron Paul on Federal Reserve in youtube. To realize the hyperwage we need to do the same thing as the U.S., borrow a lot of money. The only way to resolve poverty is to manage our resources wisely. Checkout zeitgeist venus project on youtube.

I agree with your statement regarding managing your resources wisely...

[foolonthehill]

Congratulations Dakota,

You have all the qualifications of somebody who will never be able to create Hyperwage Theory.

Why? Because exactly of what you wrote of what you think will happen if wages are increased. Your scenario is the "conventional" scenario, and of course, the first scenario that Bentulan thought of, as we were all brainwashed to think that way.

Then he challenged that "conventional scenario." Will the prices of laptop increase 10x just because the maid's wages will be raised 10x? He found out that there is no such linearity. The quantitative relationship is non-linear.

Read the first few chapters of the book, it's all there.

And that is why the book says only an anti-economist is capable of inventing Hyperwage Theory.

When I read the book the first time, and when this point of non-linearity was raised, I understood what the author was trying to say and then I saw how beautiful the theory is.

Free market? the US has a min. wage of US$7.00, that's the same free market I would like to see in the Philippines.

Dakota, will you allow your US "free market" yet imposed by Federal law (what's free market about that?) of $7.00 to be adopted here?

Free market.. yeah right.. free market.. yeah right... FEDERAL min. wage is FREE MARKET?? .. and you taught what?

Quote: Originally Posted by Dakota to foolonthehill, I hail from USA. I have a two degrees from Ivy league schools, worked on Wall Street for 10-years at an Investment Bank, and then was an executive at a Fortune 50 Company ($100B business), and last taught graduate school classes in finance and economcis. As in all debates, it is appropriate to comment or critize on the idea but not the person. Please explain what aspect of my comments you disagree with and why.

[foolonthehill]

That is right gracia,
if we really look closely, the salary of the people, the poor, is important.

Quote: Originally Posted by gracia_online It has nothing to do with the population. Being here in Australia for 7 months now, all migrants know corruption is the major issue in the Philippines.

[foolonthehill]

and tell us, how to manage the resources of P260 / day and even P120 bec double payroll..

Quote: Originally Posted by Vince Russo I agree with your statement regarding managing your resources wisely...

[foolonthehill]

His credentials are like the credentials of those harvard or chicago PhD economists who have never and will never create a theory like Hyperwage theory.

Quote: Originally Posted by al1974 Dakota, I admire your credentials, surely you are enjoying way above hyperwage incomes. If I may ask, have you read the Hyperwage theory from cover to cover? I assume you have a busy schedule but I would be glad if you find time to read it.

[foolonthehill]

Why is there somebody here who wants to end poverty?

We are just talking about reducing their suffering by offering a bigger salary...

Quote: Originally Posted by scriptologist As long as the world monetary system is the same, there is no end to poverty.... The U.S. used the certificate bonds ( i think ) to boost their economy and to resolve poverty during the great depression and look at their economy now. They borrowed money from the Fed and now they're paying it with interest. Look for Ron Paul on Federal Reserve in youtube. To realize the hyperwage we need to do the same thing as the U.S., borrow a lot of money. The only way to resolve poverty is to manage our resources wisely. Checkout zeitgeist venus project on youtube.

[scriptologist]

Quote: Originally Posted by foolonthehill and tell us, how to manage the resources of P260 / day and even P120 bec double payroll..

It's time to think as one, not as individuals

[scriptologist]

Quote: Originally Posted by foolonthehill Why is there somebody here who wants to end poverty? We are just talking about reducing their suffering by offering a bigger salary...

Ok. You need to change your title now.

"How to stop or solve the poverty in the Philippines? "

[foolonthehill]

You are correct Al1974,
that is why i commented if Dakota came from the land in the planet of mars (why mars doestn have land? funny, mr. tarmac).

bec dakota fired a gun without having read the book.

is that a good debate technqe?

Quote: Originally Posted by al1974 Dakota, While it is ok to give your opinion on hyperwage, I say it is also unfair to shoot an idea without FULLY understanding it. Read it and you will realize there is indeed a reason for his theory. Also, are you a Filipino or have you been here in the Philippines? You will know that even if we double the current minimum wage, it is still below the survival wage. I have posted a lot on this discussion in the previous page. Feel free to view it. Yes it violates the fundamental of economics. But even the brightest economists at ADB and World Bank have not made a dent on poverty problems of third world countries. And I think its time to try something that haven't been tried before; The Hyperwage Theory- the single most effective way to end poverty and modern day Filipino slavery.

[foolonthehill]

Titles are meant to be general that is why there is usage of the term.. jer jer used to have no meaning..

dont split hairs. focus on the essence. you know that poverty cannot be ended. its common sense that we are talking of reducing it.

Quote: Originally Posted by scriptologist Ok. You need to change your title now. "How to stop or solve the poverty in the Philippines? "

[scriptologist]

Ok, sorry I'm confused. I didn't read all the posts. Perhaps create a new topic on this one?

[foolonthehill]

we are not talking about you who has in Yvi degree.

we are talking about the maids, the janitors, the waiters. they deserve a higher min. wage law (not free market; a min. wage law is a law).

free market in the phils, the manager of Jollibee gets a higher wage than the min. wage. That is free market.

However, the poor maids, no education, they have no means of defending themselves. They need high wages, now.

and you said Hyperwage is unviable? Hyperwage DOES NOT remove free market (except for min. wage).

Just like in the US, Hyperwage wants to set a higher min. wage, and the theory doesnt care how much IVY people like you will be earning.

Read the book sir, and then if yuou dont agree cite specific principles that Hyperwage violated, not some speculatiion like run-away inflation.. that is just mere speculation.

You are educated sir, do you make your theories on speculation?

The US is a hyperwage country. that is proof.

Quote: Originally Posted by Dakota The reason I enjoyed so called "hyperwages" is because the free market assigned wages to me that were in line with the vaule that I created. My wages were not arbritarily increased. This is the most compelling reason why the hypewage theory is highly unviable. It violates the fundamental aspect of many economic principles including one rarely mentioned here, Theory of the Firm, and Price Theory. The wage earners value must be in line with the value it creates. Most goods and services especially the ones dicsussed here are price elastic. That means a change in price will cause a change in quantity demanded. Arbritarily increasing ones wages without without a corresponding increase value wil only make this problem worse. Now if you add in the effect of the International Fischer effect on the GNP, inflation, and currency values you may recognize how this will not work in a global market. While I have not read the book cover to cover, I acknowldege I am not an expert on this theory. But I do know this, even the most complex equations fail because of a single bad assumption. You may may have 1000 assumtions right and still be wrong because on one iss. This theory violates basic economic principles. The reality is there is no free lunch. This theory intends to supply one. Highly unlikely it can be done.

[foolonthehill]

Dakota,
you claim to be highly educated, and yet you say hyperwage violated principles? what principples?

hyperwage wants a min. wage of $1.50 per hour, the USA has $7.00 per hour

what is violated here? the USA is the firstr violator of your Free Market, and you got your education from there?

Why did you study in USA? bec u have no confidence in our colleges?

Isnt bec the best intellectual minds are there? why? bec the best minds go to teh highest paying countries. This is written in the hyperwage book!!!

and why did Jollibee go to USA? bec of low wages?

Quote: Originally Posted by Dakota The reason I enjoyed so called "hyperwages" is because the free market assigned wages to me that were in line with the vaule that I created. My wages were not arbritarily increased. This is the most compelling reason why the hypewage theory is highly unviable. It violates the fundamental aspect of many economic principles including one rarely mentioned here, Theory of the Firm, and Price Theory. The wage earners value must be in line with the value it creates. Most goods and services especially the ones dicsussed here are price elastic. That means a change in price will cause a change in quantity demanded. Arbritarily increasing ones wages without without a corresponding increase value wil only make this problem worse. Now if you add in the effect of the International Fischer effect on the GNP, inflation, and currency values you may recognize how this will not work in a global market. While I have not read the book cover to cover, I acknowldege I am not an expert on this theory. But I do know this, even the most complex equations fail because of a single bad assumption. You may may have 1000 assumtions right and still be wrong because on one iss. This theory violates basic economic principles. The reality is there is no free lunch. This theory intends to supply one. Highly unlikely it can be done.