We need higher wages off course but goverment need to do one thing

[naira]

So things we need goverment must keep prices check becouse the economy is playground and goverment duty is to be judge that everybody play fair game.

However, this is not the case, the government also realizes that high income is also determined by the high cost of living there and the rapid market growth cycle. Where we live $3000 is too much even 10x monthly income. So living costs can still be affordable at only $300 per month. House rental, electricity and clean water. European countries are certainly one step ahead compared to developing  countries where the stability of the country economic income needs to be adjusted to the income of its people. I don't really understand 100% of the cost of living in the US but based on research the minimum income there clearly corresponds to the level of costs that must be incurred. Not to mention that the global market which  is centered in America means that the high costs of renting space, water, etc. will definitely require the government to increase workers income.

[1714862044]

1714862044

[1714862044]

1714862044

[1714862044]

1714862044

[benalexis12]

In USA 3000$ minimum Europe 300€-3500€ minimum wage i think UK there 4000$ minimum. Wage
But goverment need to regulate just
Rent prices , energy prices ,food prices.
So If you want to put food price up then you need to be approved by goverment only then you can go over price limit.
We need wages up but same time our regular costs need to be not go over limits.

So things we need goverment must keep prices check becouse the economy is playground and goverment duty is to be judge that everybody play fair game.

From what I know in Europe, it is expensive to spend and buy there, especially if you rent your home. But 3000$-3500$ seems too high; in fact, I don't know 100% of the lifestyle in that country.

Here in our country, the minimum wage every month is around $400, which is very far from the rate Op says there in the European country that we are talking about here. When in Europe, the salary seems to be high, but the expenses are also high in reality.

[btc78]

the government can set price limits like minimum or maximum but they can’t do this all the time because in the long term setting price limits will affect the free market it can lead to producers not gaining enough profit which will lead to the decrease in quality of goods and services which in result will have consumers angry in short the government can only do so much in regards of the market

[Lanatsa]

In USA 3000$ minimum Europe 300€-3500€ minimum wage i think UK there 4000$ minimum. Wage
But goverment need to regulate just
Rent prices , energy prices ,food prices.
So If you want to put food price up then you need to be approved by goverment only then you can go over price limit.
We need wages up but same time our regular costs need to be not go over limits.

So things we need goverment must keep prices check becouse the economy is playground and goverment duty is to be judge that everybody play fair game.

Each country does have different numbers when it comes to averages when it comes to minimum salary on which this one exempts to those private sectors which it cant really be able to monitored out if those
would really be going below the line on which it is really not something that could be monitored it out all. Speaking about economic factors then this had been a common or long time problem on which most countries are really that experiencing and for government role when it comes on controlling prices then it would really be just that in default and also you cant really be able to took all the blame into them all the time
knowing that goods and services price or value wont really be always that getting in line on what we are anticipating on which prices of those would really be totally be depending in overall global market price
specially into those imports.

If you do find yourself on a tough situation on which you are really that making having that short in terms of budgeting due to high food cost and service
then it would be no use if you do just point out your fingers into the government. Act on yourself and be mindful and be wise on trying out to find
other income source on which you could really make yourself that able to survive or sustain.

[KingsDen]

Op, your idea will play fine and it's what the government can do, but there's an extent to which they can do it. Meanwhile, some trade and prices of goods are set internationally. So, since there's no government that is totally independent and unreliable to other governments, your idea will not work. Even talking about internally, the discrepancy between public and private sector will not allow your proposal work hence the private sector pays tax.

The only way the government can intervene is to subside the price of goods for her citizens.

It sucks to see that the price of food items and everything is the country is increasing everyday, but the minimum wage is just stagnant. People that were able to live comfortable before are now living a low standard of live because their income can no longer buy their monthly needs and to take care of the family. The average and poor ones are really suffering because the economy of the country is getting worse and nothing the government can do to help the situation of the citizens.

The government of different countries behave similarly. But the difference is that while some government has people that think for their country and make laws to better the economy for the sake of the citizens, your own country has nobody strategizing for it.

[DeathAngel]

I think we all know that wages don’t keep pace with inflation. One reason is wage growth is often influenced by the supply & demand dynamics of labor markets. If there is high unemployment or an oversupply of workers employers have less incentive to increase wages. Inflation can erode the purchasing power of wages leading to a decrease in real wages. Businesses may prioritise cost control & profitability which can limit their ability or willingness to raise wages in line with inflation.

[Jawhead999]

You can't complain about the rent prices, every countries also have this problem, the difference is first world country have a power to buy real estate in third world country because the different of currency power and minimum wages.

While food and energy prices, both of them are still affordable and you still have an alternative unlike real estate.

[moneystery]

this regulation is quite good, but this regulation will only apply in socialist/communist countries because in these countries the government has more power over the private sectors. if you do this in a capitalist country it will probably get resistance from the private sector and people will protest how they can't do business on their own without intervention from the government.

So things we need goverment must keep prices check becouse the economy is playground and goverment duty is to be judge that everybody play fair game.

hasn't the government monitored these prices through their trade/agriculture ministry? but the problem is that governments sometimes turn a blind eye to unreasonable food or energy prices, or they want to take action but are hampered by a problem that prevents their action.

[Wind_FURY]

In USA 3000$ minimum Europe 300€-3500€ minimum wage i think UK there 4000$ minimum. Wage
But goverment need to regulate just  Rent prices , energy prices ,food prices.

So If you want to put food price up then you need to be approved by goverment only then you can go over price limit.
We need wages up but same time our regular costs need to be not go over limits.

So things we need goverment must keep prices check becouse the economy is playground and goverment duty is to be judge that everybody play fair game.

Pardon me if I didn't browse the posts in the topic, and if what I'm going to post has been already said, BUT I truly need to express how OP can't be MORE wrong in his post.

If the government starts regulating basic necessities, then there's no other "union" of states to study and look more closely into than the experiment of the Soviet Union. The regulated the hell out of their economy and what/where did that bring/take them? I'm sorry, but if the government regulates food prices, then there would be smaller production because business margins would be limited vs. their costs. It will be the same with total regulation of energy priced and rent prices.

[uneng]

you think capitalist america is efficient and sustainable.. have you not seen the debt ceiling.

I think it's the method which still works. We can't expect a perfectly sustainable system to exist, since its composed by non-perfect human beings. It doesn't even make sense to compare the efficiency of a capitalist system to a socialist one. The later has completely failed, while the first still proportionate us relative welfare and opportunities to thrive if you avoid its traps (flaws of the system itself).

im from capitalist/socialist UK but even i can admit how capitalist british empire eventually failed

Failed? But you are still living under a capitalist regime, and in a first world island nation. Maybe what failed was the empire, not capitalism itself.

[Yogee]

Authorities need these capitalists to keep the economy going so they can't just impose price caps. You'll probably do better in increasing your income instead of relying on the Government to regulate prices of goods and services that are controlled by private individuals. Upskill or learn new skills and maybe spend more hours working per day to earn more. Having a full-time and part-time job at the same time helps a lot.

[Alpha Marine]

That's capitalism mate. All the government has to do is make the economy good, make sure the currency doesn't depreciate, and so on, but they don't determine the price of goods and services. The market forces determine that.
The government can't just decide that everybody plays fair. Everybody wants to make a profit so they'll do their business in a way that they'll make a profit. All the government has to do is make sure people do their business legally and ethically.

The cost of producing a good can't be $100 and you expect the producer to sell that product for less than $100.
The producers will add their profit after all things have been considered, and then the retailer would include all their expenses too, meaning you can buy that product for about $200.
So yeah, the government has a role to play, but that role is not determining the price of goods and services.

[Accardo]

The Government doesn't determine prices as it's under the decision of producers and customers. It solely depends on the rate of demand. But the government has the power to control the price. They can mandate that the price of a specific product doesn't bypass some amount; ceiling or floor. Yet it seems like the government only controls the price, but doesn't do its best in setting the salaries of civil servants, that barely get increments in salaries or minimum wage. The difficulty increases instead of salaries. If the government controls the prices of commodities, they are also aware of the expensive rate of those commodities. And doesn't care if their workers would be able to afford it or not. Hence a high number of suffering citizens keeps growing each day. The only thing the government should focus on is reducing the price of gasoline for transportation, then you'd notice a reduction in the high rate of food cost in the market. I've experienced that some food products are cheaper in the location where it's farmed or produced and more expensive in other places where it's transported.

So, the increase in the price of oil affects the prices of many products. Perishable goods like tomatoes transported by Aeroplane keep reducing in quantity per tagged prices. Making it difficult for the masses to feed well on fresh tomatoes. Due to the high cost of jet fuel. Transportation is one crucial aspect of the business chain, the producer may sell cheaper to the distributor, who increases the prices down to the retailer, and the final consumer buys commodities more expensive in small quantities. If they had enough money, they would have been buying in large quantities, saving them extra money to sort out other problems. In most countries, food takes up most people's salary, before the end of the month. So, since the government can't help with reducing the prices of these foods, they can increase the amount of money paid to workers to help them buy food in large quantities and save more money.

[kryptqnick]

In USA 3000$ minimum Europe 300€-3500€ minimum wage i think UK there 4000$ minimum. Wage
But goverment need to regulate just
Rent prices , energy prices ,food prices.
So If you want to put food price up then you need to be approved by goverment only then you can go over price limit.
We need wages up but same time our regular costs need to be not go over limits.

So things we need goverment must keep prices check becouse the economy is playground and goverment duty is to be judge that everybody play fair game.

Wages vary in different countries, and in some countries it's not the wages that might be the biggest issue but unemployment, poor employment legislation (like zero-hour contracts in the UK), for example. If the government regulated rent prices, energy prices, and food prices, lots of people would consider it a harsh limitation of individual freedom and way too much oversight. That would limit the free market, leading to less competition and potentially lower quality of provided services. Of course, partial regulations of governmental subsidies can be provided, but full regulation would be too much. Government being in control of tons of things is often a bad thing, something worse than high prices of a free market.

[topbitcoin]

Food and energy prices continue to skyrocket, while wages remain the same. This is the current problem. And I really hope that the government can increase workers' wages, or reduce food and energy prices. So we don't have too much difficulty just meeting our daily needs.
 
But this is something that is difficult for us to achieve and difficult for the government to do. The government in my country always assumes why they can't raise workers' wages, or lower food and energy prices to the lowest prices. The reason the government cannot increase workers' wages is because currently most companies, both state and private companies, are still in the recovery stage, so increasing workers' wages is impossible at this time, because with As workers' wages increase, the company's burden will increase. While talking about food and energy prices, they (the government) assume that currently it is very difficult for them to reduce food and energy prices to their lowest point, considering that the global economy and trade are currently experiencing quite difficult problems and obstacles. Meanwhile, most of the food and energy needs still rely on imports from other countries. And besides that, the state cannot afford to subsidize large amounts.

[bocyaj]

That's capitalism mate. All the government has to do is make the economy good, make sure the currency doesn't depreciate, and so on, but they don't determine the price of goods and services. The market forces determine that.
The government can't just decide that everybody plays fair. Everybody wants to make a profit so they'll do their business in a way that they'll make a profit. All the government has to do is make sure people do their business legally and ethically.

The cost of producing a good can't be $100 and you expect the producer to sell that product for less than $100.
The producers will add their profit after all things have been considered, and then the retailer would include all their expenses too, meaning you can buy that product for about $200.
So yeah, the government has a role to play, but that role is not determining the price of goods and services.

The government of many countries will control their currency price by the control of money flow to the market.The demand of the goods and services will determine the demand of that country currency in the market.If the other countries hold the currency of certain country currency in huge reserve,the price of that particular currency will be higher to the previous month.This was the base concept of the USD demand in most of the countries and they hold the USD reserve to control the U.S. trade in the future.

The government will monitor the big business man transaction,but they will not have sufficient data for the small business people money flow to the economy.If the demand for the USD was their the value of USD against any of the country will be high.The government can easy control economy using the money flow to the economy.

[Silberman]

In USA 3000$ minimum Europe 300€-3500€ minimum wage i think UK there 4000$ minimum. Wage
But goverment need to regulate just
Rent prices , energy prices ,food prices.
So If you want to put food price up then you need to be approved by goverment only then you can go over price limit.
We need wages up but same time our regular costs need to be not go over limits.

So things we need goverment must keep prices check becouse the economy is playground and goverment duty is to be judge that everybody play fair game.

Price controls do not work, this is not a theory or a speculation on my part, this is a fact that has been corroborated countless of times through history, and this is because if a government were to set the prices of everything instead of the free markets, the production costs of a product will become higher than its selling price, and no company can operate for a loss perpetually, which leads us to the disappearance of the company and for those products to become scarce and only being sold in the black markets for a much higher price.

[bhadz]

When they dictate the prices, there is no longer democracy on it but that's just like those countries that have dictatorship and are socialists. However, it's true that they can do something with the prices of these goods and even with the salaries but are they going to get that easy? No. It's because that there are factors that they can't stop due to the global arrangement and setting of these things that they can't just change easily. Oil, transportation and etc. these are the examples of it. Also the wages hike depends on inflation rates and actual revenue of the government which fluctuates still.

[franky1]

you think capitalist america is efficient and sustainable.. have you not seen the debt ceiling.

I think it's the method which still works. We can't expect a perfectly sustainable system to exist, since its composed by non-perfect human beings. It doesn't even make sense to compare the efficiency of a capitalist system to a socialist one. The later has completely failed, while the first still proportionate us relative welfare and opportunities to thrive if you avoid its traps (flaws of the system itself).

im from capitalist/socialist UK but even i can admit how capitalist british empire eventually failed

Failed? But you are still living under a capitalist regime, and in a first world island nation. Maybe what failed was the empire, not capitalism itself.

US/UK are not net producers/exporters so capitalism doesnt work.. US/UK rely on other countries support..
capitalism only works for the few at the top not the majority at the bottom..

there is reason why america has slogans like: 'the land of dreams' and 'the pursuit of happiness'..
instead of 'happy reality achieved'

[uneng]

US/UK are not net producers/exporters so capitalism doesnt work.. US/UK rely on other countries support..

Capitalism goes beyond exportations and production in industrial scale. It's about you being free to negotiate your labor force price with your neighboor, or selling your stuff on the local market. It's about you having the possibility of purchasing your private property and thriving financially without fear of retaliations or seizure from the government. I imagine you have all these possibilities in your island nation through capitalism, don't you?

capitalism only works for the few at the top not the majority at the bottom..

Capitalism works more or less for everyone. It works better for the ones at the top positions for two reasons: because they are smarter when dealing with money or because they belong to corrupt schemes of power which benefit those people. In first world countries capitalism works more efficiently, because corruption rates are lower. In third world countries capitalism isn't that efficient, because these countries are heavily affected by corruption.

Anyway, we have just two alternatives: to live in a country with socialist or capitalist tendencies. As far as I know there aren't other regimes available. Between living in a corrupt socialist and corrupt capitalist country, the second alternative is still the preferable one...

there is reason why america has slogans like: 'the land of dreams' and 'the pursuit of happiness'..
instead of 'happy reality achieved'

It's a land of opportunities and challenges, but it isn't a sure thing. It will depend on different factors, and the actions of the individual during his life are the main determinant ones in order to achieve that happiness. The slogan is right, because it can't assert something that didn't happen yet.

Dreams can come true, as they have already became for many american citizens and foreigner people who migrated to that country seeking for opportunities, but they had to do their part to achieve their goals. By there, those dreams were just possibilities to be chased, like the slogans tell us.

On the other hand, I don't know any similar stories of people achieving such goals when migrating or living in tyrant countries, heavily regulated and controlled by governments, which we can translate into the socialist ones.