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Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

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Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#491

Post by ashwagary »

arvinsim wrote: post #453
greiskul wrote: post #335

Earlier quoted context omitted.

There is also the Georgian explanation that rent seeking landlords will always increase rent to match any gains in production. Assuming that a landlord will always charge the maximum they can that market will sustain, any increase in production will mean an increase in what the market can pay for housing, and with time, what the landlord can extract from tenants. It neatly explains how cost of living correlates to jo…

Personally, I think one of the greatest mistakes of capitalism is to make property an investment asset.

Bad money (like inflationary fiat currency) creates the need to use other assets to preserve wealth, which creates bubbles in those assets.

Bitcoin advocates say good money (Bitcoin) will return the value of all other assets to their utility value because the best passive store of value will be the money itself (which due to a fixed supply would be deflationary).

In that world, people would rather sell assets they don't use to accumulate bitcoin (or money x) because only useful activities will produce more yield than the money itself. This frees up housing, land, precious metals,... and all other resources that are artificially scarce due to hoarding for wealth preservation.

I've heard people estimate, under a Bitcoin standard, the actual utility value of a house would be approximately 5-10% of current prices.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#492

Post by throw123123123 »

ummwhat wrote: post #282
nostrademons wrote: post #208

Earlier quoted context omitted.

Inflation, probably followed by corruption. Minimum wage would rise to the point where a person could afford a 1BR apartment within a 1 hour drive without traffic. Then the rents of those 1BR apartments would rise to capture that new minimum wage. Then minimum wage would rise to afford the new rent, and so on. Eventually someone's going to say "Hey, I own an apartment block downtown, I'm supposed to rent it out to th…

My pet theory is cities are malthusian. Contrary to popular belief, Malthus didn't predict runaway population growth. What he actually predicted (and was right for most of human history), is that any gains in productivity would be eaten up by population growth until the average wealth per person diluted down to it's previous level. So back to cities. Here's my pet theory. You build more apartments, or faster trains o…

Malthus is the butt-joke of economics, so much it became a rite of passage to mock him. Marx's Capital and Henry George's Poverty and Progress dedicate some time to his humiliation.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#493

Post by shephardjhon »

arvinsim wrote: post #453
greiskul wrote: post #335

Earlier quoted context omitted.

There is also the Georgian explanation that rent seeking landlords will always increase rent to match any gains in production. Assuming that a landlord will always charge the maximum they can that market will sustain, any increase in production will mean an increase in what the market can pay for housing, and with time, what the landlord can extract from tenants. It neatly explains how cost of living correlates to jo…

Personally, I think one of the greatest mistakes of capitalism is to make property an investment asset.

I think we really need to limit how many one can own. Start taxing very very very heavily for anything beyond a second home for individuals and and anything beyond another number based on statistics for a company. Also add attitional tax for every two months a property is owned but no one is living in it or using it for business. This should cut down on hording and incentivize companies and people to get rid of any property that is just lying there waiting for prices to go up.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#494

Post by threatofrain »

nostromo wrote: post #30

Ethics aside, this is bad analysis. Gas prices putting financial stress on Applebee's employees will also put financial stress on Applebee's customers, who may cut spending on things like going to Applebee's.

The cited part of the analysis wasn't covering that. It was only looking at the employee conditions and wages.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#495

Post by andy_ppp »

nostrademons wrote: post #208
endisneigh wrote: post #3

I wonder what the USA would look like if minimum wage was defined as; two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. The static (both in the nominal and inflation adjusted sense) for minimum wage doesn't make sense imo. Minimum wage should be tied to some level of living (not necessarily a great living, but something ) This guy smh

Inflation, probably followed by corruption. Minimum wage would rise to the point where a person could afford a 1BR apartment within a 1 hour drive without traffic. Then the rents of those 1BR apartments would rise to capture that new minimum wage. Then minimum wage would rise to afford the new rent, and so on. Eventually someone's going to say "Hey, I own an apartment block downtown, I'm supposed to rent it out to th…

Norway is really corrupt hey.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#496

Post by 314 »

ashwagary wrote: post #491
arvinsim wrote: post #453

Earlier quoted context omitted.

Personally, I think one of the greatest mistakes of capitalism is to make property an investment asset.

Bad money (like inflationary fiat currency) creates the need to use other assets to preserve wealth, which creates bubbles in those assets. Bitcoin advocates say good money (Bitcoin) will return the value of all other assets to their utility value because the best passive store of value will be the money itself (which due to a fixed supply would be deflationary). In that world, people would rather sell assets they do…

This is hilarious.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#497

Post by maccolgan »

warent wrote: post #12
aerovistae wrote: post #9

Quoted post unavailable.

> Please don't post comments saying that HN is turning into Reddit. It's a semi-noob illusion, as old as the hills. https://news.ycombinator.com/newsguidelines.html

Can't an illusion come true though?

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#498

Post by HWR_14 »

jpcfl wrote: post #174
quantum_magpie wrote: post #64

Earlier quoted context omitted.

>two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. My immediate reaction to this statement was.. it's insane? In my opinion it should read 'a single person able to afford a 1 bedroom apartment within an hour of public transport commute.' Otherwise it sounds like you don't think anyone should be able to live anywhere reasonable without roommates?

>Otherwise it sounds like you don't think anyone should be able to live anywhere reasonable without roommates? I think your confusing "should be able to" with "shall be able to, enforceable by law". I don't expect that a 15 year old working his first job as a fry cook at an Arby's should be compensated enough that he can afford to live on his own. In fact, that could be dangerously disincentivizing his hard work towa…

I don't see why the persons age should be relevant. But given the cost of college tuition, even instate public college tuition, means he should probably make at least that much.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#499

Post by renewiltord »

endisneigh wrote: post #3

I wonder what the USA would look like if minimum wage was defined as; two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. The static (both in the nominal and inflation adjusted sense) for minimum wage doesn't make sense imo. Minimum wage should be tied to some level of living (not necessarily a great living, but something ) This guy smh

To be honest, I think that’s thinking small. I think we should define minimum wage as being tied to how much one needs to afford a single space colony. Two space colonies would be too much, but one per American seems reasonable.

Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout

#500

Post by quantum_magpie »

xapata wrote: post #471
ramones13 wrote: post #192

Earlier quoted context omitted.

But should a 27 year-old fry cook make enough money to live alone? Labor is labor. Pay shouldn’t be less because it’s going to an acceptable to abuse class of person.

What's wrong with roommates?

Having roommates in a 1 bedroom apartment is quite terrible. You then need to convert (if there even is one) the living room to a second bedroom and as a result no one in the apartment has any privacy left. I have lived like that, and it's just not great for mental health.
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