What's your opinion on the hyperwage theory?

[integcircuit]

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spend more money to have an income

[nodols3]

Wait wait.. saka sa ta;.....
anyway still reading..

Naa diri nakabutang..

Hyperwage Theory

nindot tingale ni i discuss, if nakabasa gyud tanan tawo..

[Joseph20102011]

Hyperwage is impossible, It's about creating artificially high wages that are not backed by market realities.

We need to read more about Supply and Demand to really get the gist of how the market works.

We need to understand that the problem of the Philippines is that there are just too many job-seekers and too few jobs.

The extremely low salaries are an indicator of this. Only when jobs start to compete against each other to attract job-seekers, that's when wages move up.

That's how things work in truly emerging economies: their wages increase because the jobs become more plentiful than before.

[Joseph20102011]

In a real free market economy, wages should increase naturally according the supple and demand. If there's more competition in the job market, the higher the wages for a company to give just not to lure more employees or not to lose employees to competing company.

[afro.samurai10]

Sakto ka Bro... demand for work is less in our country and there are many people looking for work. That is why our wages are low. This is why we are being exploited by BPOs since 20k salary for us is already high, while for them its very cheap.

[Joseph20102011]

Sakto ka Bro... demand for work is less in our country and there are many people looking for work. That is why our wages are low. This is why we are being exploited by BPOs since 20k salary for us is already high, while for them its very cheap.

Increasing the wages artificially and arbitrarily by the government would not kill more jobs and businesses especially the small and medium ones. We must abolish the Minimun Wages laws and adopt what Singapore and Hong Kong done of letting the market to dictate the wages.

[elvandesantos]

the idea is so radical. actually not radical but a gamble... instead of the porkbarrels that goes to projects.. let the people increase wages and in return stimulates its own growth. for short later nah ang budget sah developments. bridges, road repairs, excavations etc.

its like stimulating a high wage sah country nga dili tinuod.. sila mo tapal sah sweldo.. and end result pag bawion masuko ng mga tao kay na anad nah..

example lang ani kay ang oil deregulation law.. before it was regulated.. pag saka sah presyo sah crude ang ato gobyerno pugngan nila in terms of tapakan nila.. nag bayad apil ang gobyerno sah crude nga gipalit sah gas stations aron lang d mo saka ang gasolina.. nindot sah? nya if mahurot ang funds sah gobyerno ana? piti kaau.

[monroy]

I wouldn't call this idea radical, I'd call it suicidal. There's no evidence or basis for this idea at all. This will rape our interest rate and we will become another Zimbabwe. Joseph20102012 is right.. countries that didn't implement minimum wage are now 10-20x richer than we are. Singapore only implemented a minimum wage when their unemployment rate reached 4%.

We have an almost 30% unemployment rate and growing... not to mention underemployment like college grads working as sales girl at SM. These things really crush the economy, and worse, crush the dreams of people who believe in the value of education. Hyperwage = Hyperinflation.

[elvandesantos]

Increasing the wages artificially and arbitrarily by the government would not kill more jobs and businesses especially the small and medium ones. We must abolish the Minimun Wages laws and adopt what Singapore and Hong Kong done of letting the market to dictate the wages.

abolish minimum wage law? so the wage could be lower than it is already ang resulta ana. correct me if im wrong lang sir

[monroy]

abolish minimum wage law? so the wage could be lower than it is already ang resulta ana. correct me if im wrong lang sir

But the unemployment rate would also drop from 30%. And long term inflation will go down, that means cheaper food, goods. That's my answer anyway and I think he will say the same thing since this is basic economics stuff...