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Hide Your Wallet - The Progressives Are Coming
Here we go. You know this idea will be around for a long time, and if implemented, will cost US citizens a bundle. Michael Ardon, a chemistry professor at Hebrew University in Jerusalem writes about his utopian plan to end the problem of globalism, which he defines as the free flow of goods and capital across national borders coupled with a ban on the free flow of work forces. Thus, he says, low wages are encouraged. His plan to narrow the wage gap between rich and poor countries:
But by what mechanism could such a substantial narrowing of the gap be achieved? One of the options is a comprehensive global minimum wage.
The minimum wage might initially be only slightly higher than the present low wages in some developing countries, so as not to disrupt their economies, but it would be increased annually. Ultimately it should reach 40 to 50 percent of the average minimum wage in the industrialized nations.
Where, oh where Mr. Ardon, will the poor countries get the money to pay this global minimum wage? I suspect from my back pocket.
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