the principals of supply and demand would dictate such an extremely low wage and with the on coming tech advances there will only be more useless people .
We would have a society that only people with money could get an education or that would not have to live at the mercy of some one with money
Why do you think supply and demand would dictate an extremely low wage? [/quote]
It could dictate a really high wage.
if you take all the people , some lazy , some old , some disabled off of public assistance and you add them to the people that are already looking for a job . You have possibly 30% of the population I will do the job for $5 ,Bill will do it for $4 , Sam will do it for $3 , Tom will do it for $2 and our present economy would collapse and would not effect the welthy one bit.
I do believe it would reach a lot farther into the ranks of employed than most believe
If the lazy & elderly knew they wouldn’t get assistance from the government they very well might be more responsible financially throughout their life. For example, my retirement plan does not include Social Security even though I’ll be entitled to it. I, however, am not relying on it because, well, that’s pretty foolish.
Do you really think about 94 million people would be looking for work if gov assistance didn’t exist? (That’s 30% of the pop)
If you, Bill, Sam, and Tom all have zero marketable skills you might be fighting over a low wage, but if Bill understands how to wire the electric in a house, Sam is profecient at computer programming, Tom is an excellent car mechanic, and you are a great cook each of you has a skill that demand more than $1/hr.
As far as the lazy people goes, I don’t exactly feel bad for them.