A Quote by Michael Porter
Competitiveness is defined as the ability of companies to compete while maintaining or improving the average standard of living. If you are cutting wages to become more competitive, that's not really more competitive. It's raising the skill and the efficiency of those workers so that they can support and sustain that higher wage.
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Cutting tax credits for education and training will result in more Americans working at minimum-wage jobs while U.S. companies go begging for the higher-paid skilled workers they need.
Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.
I support raising the federal minimum wage. What I've said is I don't want San Diego to be at a competitive disadvantage, particularly for our small businesses and our entrepreneurs to have one set of wages for San Diego and a different set of wages for surrounding cities.
I'm a competitive person by nature, and I have been in competitive companies, and I love to compete - joining a company where, certainly, there is a real fire in the belly to compete and bring that energy is something I look forward to.
Sharp increases in the minimum wage rate are also inflationary. Frequently workers paid more than the minimum gauge their wages relative to it. This is especially true of those workers who are paid by the hour. An increase in the minimum therefore increases their demands for higher wages in order to maintain their place in the structure of wages. And when the increase is as sharp as it is in H.R. 7935, the result is sure to be a fresh surge of inflation.
Most arguments for instituting or raising a minimum wage are based on fairness and redistribution. Even if workers are getting a competitive wage, many of us are deeply disturbed that some hard-working families still have very little.
Women of the working class, especially wage workers, should not have more than two children at most. The average working man can support no more and and the average working woman can take care of no more in decent fashion.
In a nutshell, the ability of American companies to compete in world markets depends on creating conditions in which workers can add sufficient value to justify their higher wages and benefits, much the Japanese auto manufacturers have done in this country. Until unions and mangers understand the necessity of effectively employing the nation's most important resource, the American worker, we are destined to have more Detroits.
Nothing disturbs me more than the downward trend of productivity in our nation today. The consequences of a decrease in productivity are a diminished standard of living, higher labor costs, less competitive prices, and more inflation.
[E]conomic liberty and creative entrepreneurship are the basis of any solution to today's social and economic difficulties. Blaming business, setting wages, and attempting to run the economy by decree from Washington only exacerbates the problems. Consider the minimum wage. It seems so simple: Tell business to pay its workers more. But a hike in the minimum wage is essentially a tax, punishing precisely those companies that hire workers with the least skills.
Supporters of this fundamental change in immigration policy say we need to import more well-educated talent if we're to stay competitive. But exactly whose competitiveness are we talking about? Not the competitiveness of, say, American-born computer engineers. Adjusted for inflation, their earnings haven't gone anywhere in years. That's in part because American companies have been sending so much of their high-tech work abroad. Bringing more foreign-born engineers here under an expanded H1-B visa program, or a point system for that matter, will just depress wages even further.
I believe that the average guy in the street will give up a great deal, if he really understands the cost of not giving it up. In fact, we may find that, while we're drastically cutting our energy consumption, we're actually raising our standard of living.
When the mass of families in a State are without property, then those who were once citizens become virtually slaves. The more the State steps in to enforce conditions of security and sufficiency; the more it regulates wages, provides compulsory insurance, doctoring, education, and in general takes over the lives of the wage-earners, for the benefit of the companies and men employing the wage-earners, the more is this condition of semi-slavery accentuated.
American workers won't be able to compete fairly for jobs until companies have to pay higher wages in countries like China and India.
Raising the minimum wage means we have workers paying more in to support the Social Security system.
We stand for a living wage. Wages are subnormal if they fail to provide a living for those who devote their time and energy to industrial occupations. The monetary equivalent of a living wage varies according to local conditions, but must include enough to secure the elements of a normal standard of living-a standard high enough to make morality possible, to provide for education and recreation, to care for immature members of the family, to maintain the family during periods of sickness, and to permit of reasonable saving for old age.
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