Please stop calling people who don't agree with you about economics as people who have no regard for humanity. CR and every other right wing person in here has family and friends that they love as human beings. so just because they go about tackling the issue of poverty differently then you doesn't make them monsters. I guess I'm trying to say stop being an ass. I'm left leaning but I can't stand leftists who attempt at demonizing the right instead of attempting to win them over.
Now, let's go over what you said. "Nope, but you will accelerate the growth significantly." Yes, you will accelerate their growth significantly, at the expense of our growth or the growth of others. If you force them to receive more money through higher wages then those paying for the goods will need to pay more of their wealth to get the product so they will have less wealth now. For a person so concerned about the well being of others you seem to forget that poor people rely on Wal-Marts cheap prices to maintain the bare minimum to survive in an advanced 1st world nation, and having Wal Mart raise prices because they have to pay more for labor isn't going to help them.
By 1880s there was a world economy but instead of instituting a worldwide minimum wage, Americans during the Guilded Age fought just to have Unions legalized.
Yes, you are correct they will have more money. But you seem to think that these nations being exploited will take that money and put it to good use and not have corruption of any sort. That's flaw one of your idealistic view. Secondly, there will still be competitive advantage but it will be lesser or weakened, which means that it is not as cheap then it was before.
You are basically artificially raising prices for all industrialized people so 3rd world countries can have more money which you seem to think will solve all their problems. Having a giant money funnel to poor countries has shown to be inefficient or not quite regulated enough to provide proper growth and development. Your proposal I will grant at least has the benefit of giving Americans cheap manufactured goods in return for sending off all their money, but just like how the US already dumps billions of dollars into Afghanistan with no viable returns on the countries well being I doubt that everything will turn out in tip top shape if we just make labor more expensive around the world.
EDIT: The people there must fight for additional money otherwise they will have no respect for it and not care when corruption starts becoming rampant among the government.
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