People are bettering their lot. The discrepancy in wages between the West and the devloping world is gradually shrinking. That is entirely because Corporations are moving to make more profits.. The increase of wages in Asia is fundamentally tied to the increase in inequality in the West. Where do you think all those good jobs are going?
I don't deny that global standards of living have risen, as capitalism is known to do in previously semi-feudal agrarian societies. However I know that several economists have criticized the stats you're using. I wonder how the stats would look if they measured purchasing power parity rather than the dollar.
This argument is really reductive. The minimum wage and social programs aren't the only things affecting an economy and unemployment. There are regulations, taxes, tariffs, corruption, available resources, established industries, trade relations. There are foreign laws, rules, regulations and taxes if you trade abroad. Different industries are going to respond differently to these various factors as well. More advanced, diverse and robust economies are likely going to be affected by a minimum wage increase differently than poorer developing economy reliant on a small handful(if not just one) commodity. So raising the minimum wage, or social benefits isn't going to have an immediate, or obvious knock on effect when so many other forces are pulling on the economy.
This can only be judged on a case-by-case basis in terms of state policy. If you take out people out of absolute poverty by making yourself a periphery of the West from which cheap labor and natural resources can be extracted and whose market can be flooded with foreign-made cheap commodities that the local businesses cannot compete with, then you've traded your long term development in favor of a few trinkets (most of which will go into the pockets of comprador elites).
It's almost like nazism is a genocidal ideology at heart while I don't even know what "government knows best" is meant to be about.
If you know what nazism is and condemn it, but you are concessive and relativistic about what ceaucescu, hoenecker, lenin etc. were all about, well that says a lot.
Yeah, we all know about the death camps set up by Erich Honecker that killed millions in the late 70s.
We are having a healthy debate about economics theories here, you are being unnecessarily militant and biased while starting a useless debate comparing socialism, nazism and generic government intervention. If this thread is closed this is your fault.
Someone should give this man a talk about the realities capitalist imperialism, I don't have the patience for that anymore.
Well, we can break a little bread on agreeing on this point. How this confirms neoliberal economics however, I don't know. And of course, the Chinese worker toiling away 80/h a week in an American factory isn't in that instance being exploited by the Chinese state but by the American company who moved operations there specifically because they know the Chinese can be thus thaken advantage of.
You literally came in the thread with that fan fiction of Austrian economics and acting like a boomer "muh commies infecting the game"
