Where are you on the global rich list?
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Joined: Dec 2008
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From: Floating around the AUDM
Vehicle: X3 Sprint, S-Coupe Turbo
To be fair though, this doesn't account for living costs. It's all very well saying that a kid in burma lives on $0.30 per day, but I bet that a day's worth of rice doesn't cost more than $0.10.
Case in point: Australian mcdonalds restaurants have a $2 menu, not a dollar menu.
Case in point: Australian mcdonalds restaurants have a $2 menu, not a dollar menu.
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Joined: Mar 2006
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From: tacos
Vehicle: 2000 Elantra
australia is funny, they think that since minimum wage is slightly higher, everything should be double in cost
i posted earlier how the new grand theft auto game is gonna be like 125 bux (using US dollars) at a gamestop type store
which is like, half a weeks pay for the employees that work there
i posted earlier how the new grand theft auto game is gonna be like 125 bux (using US dollars) at a gamestop type store
which is like, half a weeks pay for the employees that work there
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Joined: Sep 2001
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From: Pflugerville, TX
Vehicle: 2000 Elantra
not sure if serious, or just trolling ...but I'll bite
Raising minimum wages increases cost for everything (except where costs are saved by firing people). Of COURSE stuff gets more expensive. I just checked that most-reliable of sources, The Australian, and they said your minimum wage is something over twice ours. Everybody has at least 2x the money, and 2x the costs to employ people, so (duh) everything is twice as expensive.
Having more units of currency is not what makes you the winner. Having more units of currency than the next guy - especially because you are smarter/better/faster/whatever than the next guy - IS.
edit: in terms of buying power, anyway.
Raising minimum wages increases cost for everything (except where costs are saved by firing people). Of COURSE stuff gets more expensive. I just checked that most-reliable of sources, The Australian, and they said your minimum wage is something over twice ours. Everybody has at least 2x the money, and 2x the costs to employ people, so (duh) everything is twice as expensive.
Having more units of currency is not what makes you the winner. Having more units of currency than the next guy - especially because you are smarter/better/faster/whatever than the next guy - IS.
edit: in terms of buying power, anyway.
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Joined: Dec 2008
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From: Floating around the AUDM
Vehicle: X3 Sprint, S-Coupe Turbo
The reason that there's such crazy inflation is because of a huge mining boom in the northwest. It's actually ridiculous how much money is flowing through that place. So there's plenty of demand from people working there. However, other wages haven't matched that same pace. So a mining engineer, truck driver, driller's offsider, or janitor at the minesite will be getting actually ridiculous money. However: nurses, teachers, civil engineers, service industry staff etc don't get ridiculous wages. Their wages merely keep pace (kinda) with inflation.
Now an economist would tell you that although australian prices are very inlfated, our dollar is still worth the same as an american dollar. So we should be importing plenty of stuff with our spare money. Doing this will eventually devalue the australian dollar and lower demand for local (expensive) products, but that will take time.
tl;dr Our high minimum wage doesn't make much of a difference but sell me some USDM parts
Now an economist would tell you that although australian prices are very inlfated, our dollar is still worth the same as an american dollar. So we should be importing plenty of stuff with our spare money. Doing this will eventually devalue the australian dollar and lower demand for local (expensive) products, but that will take time.
tl;dr Our high minimum wage doesn't make much of a difference but sell me some USDM parts