Mercury Rising 鳯女

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Things Conservatives Don’t Want You To See: Hong Kong Raises Minimum Wage, Lowers Jobless Rate

Posted by Phoenix Woman on May 9, 2013

Check this out:

Back in 2010, Hong Kong workers had a landmark victory against usurious capitalists when they earned passage of legislation mandating a minimum wage, as well as numerous other pro-labor measures. At the time, “business activists” claimed this would cost Hong Kong working class thousands of jobs, but in a lesson that we can very much learn here in the US, reality played out much differently:

hong_kong_unemployment

As seen above, after the minimum wage was passed and imposed, Hong Kong’s unemployment rate has steadily declined and reached full employment (amidst a worldwide financial panic too). All the consultants and officials who claimed  in 2010 that this would destroy the markets were, well, downright wrong (and we have the benefit of hindsight to show us this).

I think I can guarantee you that you won’t see this news on FOX, CBS, CNN, NBC, or even MSNBC today, tomorrow, or anytime soon. They’re too busy helping Darrell Issa waste your tax dollars on yet another set of Benghazi show trials, erm, hearings.

One Response to “Things Conservatives Don’t Want You To See: Hong Kong Raises Minimum Wage, Lowers Jobless Rate”

  1. Charles II said

    Wonderful to see Milton Friedman’s capitalist paradise disprove everything he said about it.

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