Lol minimum wage mandated by the market doesn't work in the US either. 7.25? Its like inflation never happened.
I'm going to end on. Communism/Socialism are not inherently evil ideas. They did not lead to genocide, just because leaders of a country used it to commit genocide. Just like candy isn't evil just because someone uses it to lure children and harm them. Or nuclear energy isn't evil just because we harnessed it into a weapon.
Inflation did happen when it went up, gas and rent went up as well as the price of food at McDonalds.
And its why the subways in Seatle cannot afford to offer any sub at a $5/foot long price...
Government planned economies cause inflation... atleast in capitalism you can boycot a business and still have alternatives, its not a system where its our way or nothing like what the FDA mandates with drug companies and their monopolies AND communist/socialist countries.
Im guessing you havent ever read anything by Thomas Sowell or Milton Friedman have you?
Yes it did happen.
However, for better or for worse minimum wage didn't follow the trend.
You can blame the government's that deregulated the oil industry and sign for free trade agreements which are socialist/planned market policies that shipped our jobs overseas and allowed for companies to save money while other Industries had to pay more.
And of course it wouldn't have to follow the trend, you have a system that incentivizes welfare for those who are not better off where they don't actually have to reinvent themselves and invest in themselves to better themselves anymore, they can just work a minimum wage job and get benefits from the government so of course why would minimum wage not go up when they don't have to raise it cuz they can just hire any able person who wants to use welfare meant for unemployed and disabled people...
Thy can hire anyone and they don't need to take care of you. There's no incentive for them to need to bring people in because there's a surplus of unskilled labor in the market. They don't have to raise wages
Jobs left the United States and the demand for scaleless work went up, and literally there's no competition between stores like Walmart or Target or Meijer as they have an endless amount of people they can just hire and fire at well. There's literally no competition between them to hire in new workers that's not needing to even give a higher minimum wage for their work. And plus there's the fact that we have a higher rate US immigration and most successful countries actually have, in our current policy on immigration actually goes against what we found out in the 1920s didn't actually work, we actually started loosening restrictions on immigration and it ended up causing minimum wage to level off, it's one of the contributing factors of many which caused the stock market crash in the Great Depression.
Basically more socialist like systems will deregulate and plan their economy to benefit the industries over the people, rather than investing in newer Industries, ensuring a free and open market, and investing in the people and infrastructure.
But you would know these things if you've actually did some research instead of just blaming capitalism and greedy people for the entire world's problems.
I don't blame captialism. It's just an idea. I blame corporations and politicians take advantage of the holes in capitalism.
Why do you think Productivity went up and min wage didnt in the 70s? shipping jobs and tasks to china, deregulation on laws that prevented monopolies and allowed for oil prices to boom (despite the oil market crash within the united states)
employment for low skill work increased while skilled trade employment and self employment decreased.
the government fucked over the free market between the oil crash till the 2000's
theres bigger holes in communism due to its collectivist system where you can manipulate people easier
Didn't help that the US wasn't self reliant on oil.
it tried to be, but the global market out competed with cheaper oil that they didnt have to protect tne enviornment over. areas in the siberian ice, and in the dessert are less impacted by spills and have cheaper land than areas within and around the united states. the US oil industry should have gone under, and the survivers should have invested in alternatives within the market. They deregulated so that it was cheaper to invest in off shore drilling, fracking (and its development and use)... etc which allowed the market to flourish. this was a planned market decision.
both of the major parties had supported it and legislation to allow free trade AND removal of consumer protections from banks as economists of the time urged to do so as unplanned markets could collapse like in the great depression (albeit a bit biased of a study as it was just a study to find an alternative half way between socialism and Keynesian economic models and nothing more.) this lead to the oligarchical Capitalist system that we have today.
what you hate is a planned economy where the main benefactor is the businesses. why do you trust any government enough or think socialism or communism is a good idea if you give people that kind of power? its better to divide that power amongst the people and the market and not solely in the hands of the government. we now have high education prices and stringent requirements for colleges to offer general education and classes not related to the degree they are going for, and a market that is planned by the government for the interests of the 5-6 conglomerates they helped put into power.
If you give anyone the power to plan the economy, they will abuse it... you cant change human greed, so why be against a system that prevents it?
Free Market Capitalism is atleast an individualist system where each individual can (in a open market with a constitutional republic) can enter the meritocratic system and benefit due to their own skills. Anyone qualified and with the talents can go into an industry or business freely. People can chose their standard of living and where they live at will if they have the capital to do so. in this system, the more you put into the system and work on bettering yourself through a trade or education, the more upward mobility you have.
in collectivist systems like socialism or communism, you are just seen as a person or a identity, not as an individual. you are defined by a collective class. people can use your disdain of higher classes to manipulate you into oppressive systems. you are defined entirely by a group identity. Politics within this identity are enforced by peer pressure and a herd mentality. You are seen only through your identity and this is where you find your worth, by fitting in with your group identity. we see this in politics and racial classes throughout the united states as well as all over the world. Collectivist identities are easier to manipulate into voting for you than a large sum of individuals.