Middle East unemployment ranges from 30% to 50%. In the USA, new figures claim 9%...with real unemployment about 17%. In Europe and Asia figures reflect the same poor economic numbers.
In Egypt, people live on $2 US per day...less in some African countries. Jobs flee the US to foreign markets due to lower labor costs (Thanks to overpriced Labor Unions).
What would the repercussion be of a Global Minimum Wage? In my state of Oregon, the minimum wage is $8.50/hr, one of the highest in the United States. If the GMW was say $3/hr, many jobs would stop fleeing industrialized countries. The standard of living would rise in undeveloped countries, perhaps stemming illegal immigration.
In the Global Economy, it sounds like a win-win situation. Why hasn't such an idea been proposed? Fear of "The New World Order"? Ridiculous!
In 2011, with a Global Economy, I propose a Global Minimum Wage is a necessity, both for economic growth and world peace!
