What's your opinion on the hyperwage theory?

[Joseph20102011]

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The author did mention that the increase should not be done on a one time basis.
It should be a steady increase leading up to 20,000 php in a span of 5 to 10 years.
Though I just finished reading chapter 7, I think this will work exceptionally in closed systems.
Meaning, this has great potential to work in a small experimental group.

Bisan pa basta ang pa-agi sa pagpa-saka sa sweldo pinugos sama sa legislated wage increase as per author wanted actually instead of basing to the law of supply and demand, destuctive lang kaayo in a long-run na imbes unta naay trabaho na mahimo, mawad-an na hinuon ug trabaho kay ang mga negosyo dili na hinuon maka-afford sa sobra sa kataas sa sweldo na lapas na sa market forces.

[Joseph20102011]

mas maau unta if yung author, i-appoint sa NEDA or be an adviser to the president.

God forbid! Hyperinflation is the next thing to happen.

[chris_bern]

there is really no need for this HYPERWAGE thing if only our governments will impose less taxes to the people..

[kris020]

I think for now it's better to increase the politician's salary rather than the Filipino people. Lisud kaayo itaas ang minimum wage kung mo taas ang unemployment due to businesses cannot pay its workers. Gamay pa kaayo opportunities diri, nag rely pa ta sa mga wages sa OFWs and walay gusto mo invest diri tungod anang 60-40.

Para nako iuna gyud increase ang wages sa politicians.

Our President is only getting paid at 120k/month? Our Senators and Congressmen are getting paid at 40k-60k/month. These people are in charge of billions of dollars. CEO, managers in the Philippines etc. are paid better for managing significantly less money.

Huna hunaa. As president you are only getting payed 120k/month to budget more than a trillion pesos. Wouldn't it be tempting to get even .05% of the pie? And Senators, they have a pork worth I think 200m? and they are only getting 40k-60k/mo. to budget it for their own projects, anyone would be tempted to get even 1m-2m of that money!.

The goal shouldn't be to completely eliminate corruption that is impossible. It is to significantly reduce corruption.

What do you think if we say increase the salary for the president by x6? to 600k/mo. or 7.2m/year
the senators to 400k/mo.? and congress by 300k/mo.? I think these government officials would be less tempted to steal and provide accordingly to their specific projects.

And next the wage increase should be with the government workers. Give government workers minimum wage of 16k/mo., mas dili ni sila ma tempt manguha ug under the table.

Then the non-government workers.

What od you guys think ?

[al1974]

I could not agree more!

mas maau unta if yung author, i-appoint sa NEDA or be an adviser to the president.

[mAlD|tO]

Kng JT Benz mani na book..he's brilliant I listen to him every weekday 9:30pm - 11:00pm sa DyAB lingaw iyang mga analysis og naa pud point siya..

[Joseph20102011]

Kng JT Benz mani na book..he's brilliant I listen to him every weekday 9:30pm - 11:00pm sa DyAB lingaw iyang mga analysis og naa pud point siya..

Lingaw pero unrealistic and iyang gusto. Murag naa siya sa laing universe si JT Benz.

[al1974]

yes lain nga universe, genius universe!

[M.A.D.]

Mathematically it is very dangerous. Not only will it lead to runaway inflation but it will lead to disruption of the pricing mechanism of goods. Although not the same as QE, the effect of injecting more liquidity to promote a faster economic recovery erodes the value and faith of the US dollar.

In retrospect, hyperwage would mean injecting more money into the local economy which may have similar effects to QE. Yes government can just print money since its debts is only denominated in its own currency but there will come a point where trading partners may no longer accept the currency since it has already lost or significantly eroded its value due to its massive circulation without a real growth in the economy.