News Forum - Minimum daily wage in Thailand looks set to increase to 492 baht

[astro]

25 minutes ago, dj230 said:

Not following too well, but from my experience, the increase in inflation usually out paces any minimum wage increase, that being said, I have no clue whether the inflationary pressure was caused solely by minimum wage increases.

I haven't lived long enough or studied economics to understand it completely, I just wonder whether it will actually benefit those working minimum wage in Thailand. I know a few people working minimum wage in Thailand, most can't afford to live in Bangkok. If prices for goods / expenses go higher I wonder how that will affect those just barely able to afford living in Bangkok (those not making minimum wage). 

Will be interesting to see this play out, also curious how will affect prices for expats, to be quite honest, some prices in Bangkok were a huge shocker to me, I was expecting most, if not all goods/expenses to be cheaper in Bangkok compared to Toronto, but many things are the same or even more expensive. 

I also don't have a background in economics, just adding my unqualified 2 cents.

[Cabra]

11 hours ago, Stonker said:

If those "at the bottom" get a 42% pay rise, do you seriously think those who've been paid more because they're more skilled and more productive will be happy when they're on the same pay band?

All you have is conjecture. Nothing actual or even anecdotal. Give we a use case (even if anecdotal) specific to Thailands economy. Some guy making 600 baht a day pumping fuel is not going to expect a 46% raise because all of a sudden some guy tending livestock is making 495. You clearly have never negotiated employees salary before, or you would realize how implausible that really is. He would be told to go pound sand and go work on the farm if he doesn't like his fuel pumping job. Reread my "fun fact" in a previous post about who is really at the bottom (in Thailand it's mostly young kids and farmer workers). There is not going to be a stampede of people looking for a 46% across all job types/categories. Ignorant to suggest such. And if everyone in this country gets an incremental raise as a result of minimum wage laws, good for them. Long overdue. It's not the end of the free market economy. Stop the hyperbole. 

[Stonker]

8 hours ago, astro said:

I also don't have a background in economics, just adding my unqualified 2 cents.

Neither do I, apart from a reasonable 'A' level in Applied Economics so I'm pretty well aware of what the "top economists" have to say about it.

9 hours ago, astro said:

The question is, where that breaking point is.

For minimum wages it's normally taken as being not too far above the national poverty line - important to note that that's the national poverty line, not the international poverty line which is world-wide.

The World Bank has set the international poverty line at 165 baht per person per day (i) ($5.50 per day), while Thailand's poverty line is 90 baht per day (2,710 baht per month) (ii), set by Thailand and the Asian Development bank (iii).

As a comparison, the UK's national poverty line is 900 baht per day (£147 per week).

(i): https://www.bangkokpost.com/business/2054387/world-bank-1-5m-fell-into-poverty

(ii): https://www.bangkokpost.com/business/1992707/nesdc-sees-poverty-surge

(iii): https://www.adb.org/countries/thailand/poverty

(iv): https://www.theguardian.com/society/2021/may/26/poverty-rate-among-working-households-in-uk-is-highest-ever

9 hours ago, astro said:

Looking forward to your link later.

Thanks for being patient!

Two links actually, one by a Thai economist at the World Bank (i), written for the Puey Ungphakorn Institute, and one bachelor thesis by two Thai and one Swedish economists in Sweden(ii).  Both looked in detail at the last major rise in the minimum wage in Thailand, of 26% back in 2012/13 by Thai Rak Thai.

If you're unaware of Puey Ungphakorn, MBE, he was Thailand's best known economist and social reformer, fought for the Free Thai Resistance in the British Army and was captured by the Japanese,  and is well worth reading up on (vital reading for the "loony left", particularly his "Quality of Life From Womb to Tomb" which is one of the best pieces of writing for any country to adhere to I've ever read by anyone https://www.nectec.or.th/users/htk/dr-puey/womb-tomb.html)

(i): https://www.pier.or.th/en/abridged/2016/11/

(ii): https://www.diva-portal.org/smash/get/diva2:1111154/FULLTEXT01.pdf

From the Swedish study, which is very detailed:

"In , 2013, minimum wage was increased from 239 Baht to 300 Baht per day, an increase by 26 percent. The main objective of this essay is to assess the extent towhich the 300 Baht minimum wage is a good
instrument to reduce poverty"

"In the short run, we observe simultaneously an increase in a number of informal workers and a decrease in a number formal employees after the reform which shows us an evidence of labour flow between these two sectors.
The short run decrease in a number of formal workers probably originated from a higher production cost.
Employes reduced the number of employees or substitute them with other production factors in order to
reduct their cost of production ( sush as hiring immigrants and purchasing machines in order to maintain
their firm’s profitability). As a result, formal workers who get lay off have to work in informal sector."

Their conclusions (my bold):

"For short run, an increase in minimum wage is higher for formal workers who did not get lay off
by observing from an increase in minimum wage bite. However, an increase in minimum wage
causes a negative effect for workers who became unemployed or had been inevitably allocating to
work in informal sector because they would receive lower average wage.
While the number of informal employees decreased , an increase in a number of formal employees
took place due to a better cost adjustment and allocation from firms’ production factors in long
run. Also, these formal workers who benefited from the policy were not poor people because their
income was above the poverty line. Therefore, we suggest that 300 Baht minimum wage policy
is not an effective tool to reduce poverty"

From the Thai / World bank study (my bold):

"Overall, the evidence suggests that the minimum wage has had a positive effect on those at the lower end of the wage distribution. However, it has not translated into higher wages for those at the very bottom of the distribution as non-compliance may have kept these very low-paid workers at below-minimum.

"As suggested by our findings, gains arise for wage workers, who can now obtain a higher reward for their labor after a prolonged period of stagnation in real wages, and also for firms, which can find a bigger pool of candidates available for work. However, losses may apply to firms and wage workers too. Some firms, especially the micro enterprises, could be forced out of the formal sector or out of the market altogether as they cannot compete for workers with larger monopsonistic firms. Furthermore, these large firms could temporarily see their profits reduced to adjust to the higher minimum. Workers could be penalized too if the bargaining power of some, namely the very low-paid, is reduced due to increases in non-compliance."

The conclusions of both are pretty clear - minimum wages much above the national poverty line don't work in Thailand, or an economy like Thailand's.

 

[Stardust]

41 minutes ago, Stonker said:

Neither do I, apart from a reasonable 'A' level in Applied Economics so I'm pretty well aware of what the "top economists" have to say about it.

For minimum wages it's normally taken as being not too far above the national poverty line - important to note that that's the national poverty line, not the international poverty line which is world-wide.

The World Bank has set the international poverty line at 165 baht per person per day (i) ($5.50 per day), while Thailand's poverty line is 90 baht per day (2,710 baht per month) (ii), set by Thailand and the Asian Development bank (iii).

As a comparison, the UK's national poverty line is 900 baht per day (£147 per week).

(i): https://www.bangkokpost.com/business/2054387/world-bank-1-5m-fell-into-poverty

(ii): https://www.bangkokpost.com/business/1992707/nesdc-sees-poverty-surge

(iii): https://www.adb.org/countries/thailand/poverty

(iv): https://www.theguardian.com/society/2021/may/26/poverty-rate-among-working-households-in-uk-is-highest-ever

Thanks for being patient!

Two links actually, one by a Thai economist at the World Bank (i), written for the Puey Ungphakorn Institute, and one bachelor thesis by two Thai and one Swedish economists in Sweden(ii).  Both looked in detail at the last major rise in the minimum wage in Thailand, of 26% back in 2012/13 by Thai Rak Thai.

If you're unaware of Puey Ungphakorn, MBE, he was Thailand's best known economist and social reformer, fought for the Free Thai Resistance in the British Army and was captured by the Japanese,  and is well worth reading up on (vital reading for the "loony left", particularly his "Quality of Life From Womb to Tomb" which is one of the best pieces of writing for any country to adhere to I've ever read by anyone https://www.nectec.or.th/users/htk/dr-puey/womb-tomb.html)

(i): https://www.pier.or.th/en/abridged/2016/11/

(ii): https://www.diva-portal.org/smash/get/diva2:1111154/FULLTEXT01.pdf

From the Swedish study, which is very detailed:

"In , 2013, minimum wage was increased from 239 Baht to 300 Baht per day, an increase by 26 percent. The main objective of this essay is to assess the extent towhich the 300 Baht minimum wage is a good
instrument to reduce poverty"

"In the short run, we observe simultaneously an increase in a number of informal workers and a decrease in a number formal employees after the reform which shows us an evidence of labour flow between these two sectors.
The short run decrease in a number of formal workers probably originated from a higher production cost.
Employes reduced the number of employees or substitute them with other production factors in order to
reduct their cost of production ( sush as hiring immigrants and purchasing machines in order to maintain
their firm’s profitability). As a result, formal workers who get lay off have to work in informal sector."

Their conclusions (my bold):

"For short run, an increase in minimum wage is higher for formal workers who did not get lay off
by observing from an increase in minimum wage bite. However, an increase in minimum wage
causes a negative effect for workers who became unemployed or had been inevitably allocating to
work in informal sector because they would receive lower average wage.
While the number of informal employees decreased , an increase in a number of formal employees
took place due to a better cost adjustment and allocation from firms’ production factors in long
run. Also, these formal workers who benefited from the policy were not poor people because their
income was above the poverty line. Therefore, we suggest that 300 Baht minimum wage policy
is not an effective tool to reduce poverty"

From the Thai / World bank study (my bold):

"Overall, the evidence suggests that the minimum wage has had a positive effect on those at the lower end of the wage distribution. However, it has not translated into higher wages for those at the very bottom of the distribution as non-compliance may have kept these very low-paid workers at below-minimum.

"As suggested by our findings, gains arise for wage workers, who can now obtain a higher reward for their labor after a prolonged period of stagnation in real wages, and also for firms, which can find a bigger pool of candidates available for work. However, losses may apply to firms and wage workers too. Some firms, especially the micro enterprises, could be forced out of the formal sector or out of the market altogether as they cannot compete for workers with larger monopsonistic firms. Furthermore, these large firms could temporarily see their profits reduced to adjust to the higher minimum. Workers could be penalized too if the bargaining power of some, namely the very low-paid, is reduced due to increases in non-compliance."

The conclusions of both are pretty clear - minimum wages much above the national poverty line don't work in Thailand, or an economy like Thailand's.

This is your guessing and definetly not of the world bank researchers or economists! Wages is one tool but for sure other tools are nedded, too! For example education. Here is a simple explainer that not to go detailed inside that because these datas have many many pages a small film just to bring it a little bit together! Anyway your conclusions are wrong and you really not understand the subject that other tools needed , too and not only the wages but a important part of it! 

https://www.worldbank.org/en/news/video/2020/10/22/poverty-and-inequality-in-thailand

Dont sell your own conclusions as it is from the world bank. By the way I realized your economy understanding about the subject pulling out supply chains from China and about outsourcing.

https://www.worldbank.org/en/news/video/2020/10/22/poverty-and-inequality-in-thailand

 

[Stonker]

1 hour ago, Cabra said:

All you have is conjecture. Nothing actual or even anecdotal.

Well, no ... I gave you links to some articles before, and corrected you when you said "Wrong again" which seems to have put your nose out of joint.

1 hour ago, Cabra said:

Give we a use case (even if anecdotal) specific to Thailands economy.

See my post above, #162039, which I said before I'd be posting today once I had access to it on the PC rather than the mobile.

The links aren't anecdotal but researched in depth and empirical, and very specific to Thailand and the last major increase in Thailand's minimum wage.

2 hours ago, Cabra said:

Some guy making 600 baht a day pumping fuel is not going to expect a 46% raise because all of a sudden some guy tending livestock is making 495.

You evidently have no idea about how much people earn in Thailand, how people are paid, and who is affected by the minimum wage.

"Some guy pumping fuel" is NOT making "600 baht a day" but is making minimum wage or just above it - 600 baht a day is what their supervisor / the cashier makes, or someone working at 7-11 with a high school diploma.  They WILL expect a 46% raise, though, if that's what the minimum wage goes up by, as that's what their employer will have no option but to pay if they still employ them.

Their supervisor will expect a similar pay rise, otherwise there's no reason for him to have wasted his time getting experience and skills and taking any responsibility.

"Some guy tending livestock" WON'T be "making 495" as they work in the informal sector and aren't salaried so aren't subject to minimum wage regulations, and they'll carry on being paid a couple of hundred baht a day or maybe three hundred when they cut sugar cane or harvest / plant rice in season.

2 hours ago, Cabra said:

You clearly have never negotiated employees salary before, or you would realize how implausible that really is. He would be told to go pound sand and go work on the farm if he doesn't like his fuel pumping job. Reread my "fun fact" in a previous post about who is really at the bottom (in Thailand it's mostly young kids and farmer workers).

Actually I "negotiate employees salary" here in Thailand on a pretty regular basis! I did it for the construction workers building my retaining wall, tilers and painters when I need them, and for other workers pretty regularly when I need a tree cut down or some turf laid. Pretty basic stuff! 

Minimum legal salaries aren't part of the equation for me or for half the people in Thailand where "There were 19.0 million self-employed workers in Thailand in 2019 compared to 18.7 million wage and salaried workers."

https://www.ilo.org/wcmsp5/groups/public/---asia/---ro-bangkok/documents/briefingnote/wcms_747944.pdf

In case that isn't clear, just under than half those working in Thailand work in the formal sector and are subject to minimum wage laws.

  ... and I'm sorry, but your ' "fun fact" ' of who's "really at the bottom (in Thailand it's mostly young kids and farmer workers)" is of absolutely NO relevance - "young kids and farmer workers" don't work in the salaried sector, so any increase in the minimum wage won't apply to them.

2 hours ago, Cabra said:

There is not going to be a stampede of people looking for a 46% across all job types/categories. Ignorant to suggest such.

I think any 'ignorance' is on the part of someone who thinks "young kids and farmer workers" are subject to the minimum wage, or that petrol pump attendants earn 600 baht a day, etc.  All those earning minimum wage in the formal sector will, however, as will those who have a wage differential above it now.

2 hours ago, Cabra said:

And if everyone in this country gets an incremental raise as a result of minimum wage laws, good for them. Long overdue. It's not the end of the free market economy. Stop the hyperbole. 

BUT THEY WON'T. 

Over half those working in Thailand aren't subject to minimum wage laws so it won't make any difference to them, apart from when the ranks of the unemployed and informal sector are swollen as workers are laid off as they've become too expensive to salary.

[Stonker]

11 hours ago, astro said:

Looking forward to your link later.

Another link you may find interesting I just noticed, @astro, from the International labour Organisation.

It's not directly on minimum wage increases, but it explains how many in Thailand are subject to minimum wage legislation and working in the formal and informal sectors.

https://www.ilo.org/wcmsp5/groups/public/---asia/---ro-bangkok/documents/briefingnote/wcms_747944.pdf

[Stonker]

12 minutes ago, Stardust said:

This is your guessing and definetly not of the world bank researchers or economists! Wages is one tool but for sure other tools are nedded, too! For example education. Here is a simple explainer that not to go detailed inside that because these datas have many many pages a small film just to bring it a little bit together! Anyway your conclusions are wrong and you really not understand the subject that other tools needed , too and not only the wages but a important part of it! 

https://www.worldbank.org/en/news/video/2020/10/22/poverty-and-inequality-in-thailand

Dont sell your own conclusions as it is from the world bank.

Sorry, but those links I gave ARE from "economists" and one IS a "world bank researcher".

Your "simple explainer" has nothing to do with the topic, which as @Faz explained was about Thailand's minimum daily wage increase - NOT poverty and inequality in Thailand and the reasons for it, which is why I'm not going to comment on it.

 

19 hours ago, Faz said:

This topic is about the average daily wage increase in Thailand.

 

[sawadeeken]

Do you mean it is going up from $US9 per day of 8 to 16 hours to $US15 a day???

But then again.... How much do the chinese get a day????

Edited February 15, 2022 by sawadeeken
correct spelling

[Guest1]

54 minutes ago, Stonker said:

They WILL expect a 46% raise, though, if that's what the minimum wage goes up by, as that's what their employer will have no option but to pay if they still employ them.

The "good" thing is, most people may not expect 46%/50% more, but about only 200 Baht more. Since that is, what the minimum rise is going up, to them!

[Stardust]

37 minutes ago, Stonker said:

Sorry, but those links I gave ARE from "economists" and one IS a "world bank researcher".

Your "simple explainer" has nothing to do with the topic, which as @Faz explained was about Thailand's minimum daily wage increase - NOT poverty and inequality in Thailand and the reasons for it, which is why I'm not going to comment on it.

Omg you really not even understand this movie to explain it even for children. This is also about wages and sure wages in Thailand is about poverty and inequality. Sometimes I really cannot believe what you are writing. Low wages is about inequality and poverty in Thailand and is the topic. OMG!

[Cabra]

45 minutes ago, Stonker said:

the ranks of the unemployed and informal sector are swollen as workers are laid off as they've become too expensive to salary

Here is a good article on the history of this debate. It's pointless to continue this thread. Thankfully, the laws continue to exist today, and will continue to exist long into the future.

https://www.theatlantic.com/business/archive/2017/01/economism-and-the-minimum-wage/513155/

 

[longwood50]

Neighboring Vietnam has a minimum wage of 4,750 dong per hour.  That is 6.75 baht. 

I am not saying this is fair, but I am warning of the law of unintended consequences.  When other countries can provide the same unskilled labor for significantly less money, business has no choice but to use those countries for their products because if they don't their competitors will. 

So when rice or rubber or any commodity is more expensive in Thailand because of higher labor costs that commodity will be sold on the world market from the country with the cheapest prices.  Assuming you have a manufacturing company that utilizes minimum wage workers, if the cost of moving your operation to Vietnam is more than offset by the lower cost of doing business, they will do so.  Alternatively, manufacturers in Vietnam will sense the opportunity and start manufacturing goods there competing against Thailand knowing they have an advantage. 

Raising the standard of living for the minimum wage worker does not come from the government mandating higher wages for the same skills.  If it did, then government could just mandate a huge wage for every worker and prosperity would be given to all. 

If the country really wants to help workers it should provide them with "temporary" assistance.   Food, clothing, rent, utility, gasoline subsidies.  At the same time, it should embark on training these people in skill sets that make them more valuable.  Carpenter, brick mason, electrician, computer repair, appliance repair, welder, etc.  This qualifies them for jobs that pay better. 

Most importantly the government should make Thailand "the place" for businesses to locate to.  Subsidies, low or no taxes, to encourage Thai businesses to expand, and foreign businesses to locate here.  Business creates jobs, and trains workers.  That creates jobs and better paying jobs, then bussing restaurant tables, picking rice, or harvesting rubber.  

This is what Tim Cook CEO of Apple said about China and why Apple does so much business with them. 
 

BRINGING INNOVATION TO MARKET

Apple CEO Tim Cook: This Is the No. 1 Reason We Make iPhones in China (It's Not What You Think)

China is much more than a source of low-cost, low-skilled labor.

The number one reason why we like to be in China is the people. China has extraordinary skills. And the part that's the most unknown is there's almost two million application developers in China that write apps for the iOS App Store. These are some of the most innovative mobile apps in the world, and the entrepreneurs that run them are some of the most inspiring and entrepreneurial in the world. Those are sold not only here but exported around the world.

There's a confusion about China. The popular conception is that companies come to China because of low labor cost. I'm not sure what part of China they go to, but the truth is China stopped being the low-labor-cost country many years ago. And that is not the reason to come to China from a supply point of view. The reason is because of the skill, and the quantity of skill in one location and the type of skill it is.

The products we do require really advanced tooling, and the precision that you have to have, the tooling and working with the materials that we do are state of the art. And the tooling skill is very deep here. In the U.S., you could have a meeting of tooling engineers and I'm not sure we could fill the room. In China, you could fill multiple football fields.

https://www.inc.com/glenn-leibowitz/apple-ceo-tim-cook-this-is-number-1-reason-we-make-iphones-in-china-its-not-what-you-think.html


So stop trying to make people prosperous by offering minimal skills and demanding more money for it.  MAKE THE PEOPLE HAVE SKILLS THAT COMPANIES HAVE A DEMAND FOR.  Take a lesson from the Chinese.  Invest in the people, make it attractive to do business here in Thailand and actively promote businesses to locate here rather than in other countries. 

 

[longwood50]

1 hour ago, Stardust said:

Omg you really not even understand this movie to explain it even for children.

No, I am afraid he would need crayons and finger paints for you to understand. 

[longwood50]

17 hours ago, Stardust said:

Also it is unbelievable they claim they know something about economy and are coming with examples from America as prove for their claims in Thailand. How absurd and shows they even have no knowledge about the differences of the economies

What is unbelievable is that you somehow think that there is some difference in how economies work around the world  In a capitalistic economy whether Thailand, the USA, China, or Russia or any place else.  The consumer wants the best product for the lowest cost and will seek that out, the business owner trying to produce that product will search for the lowest cost of both raw materials, products, and labor in order to keep that price low, the worker will try to obtain the highest amount of compensation for their labor. 

It doesn't matter whether that is in Rubles, Euro's USD, or baht.  

Perhaps you "might" but I am not hopeful here the insights of Milton Friedman - Noble Prize Laurate and Professor of Economics has to say about the minimum wage.  Also Walter Williams Professor of Distinction of Economics George Mason University.  They obviously know far more about the destructive aspects of minimum wage. 
 

 

[Stonker]

1 hour ago, Cabra said:

 It's pointless to continue this thread.

Jeez-Lou-Frigging-Eze.  Possibly for you, but some of us may actually be interested in a discussion about THAILAND'S minimum wage and the possible effects of increasing it by 46%.

First you tell me "All you have is conjecture. Nothing actual or even anecdotal"  and ask me to "Give we a use case (even if anecdotal) specific to Thailands economy" which I do as I'd previously said I would, in depth and specific not only to Thailand but to the previous major minimum wage hike, then you come back with a "good article" that contradicts EVERYTHING you've said (and a.n.other has said) and confirms EVERYTHING others are saying, such as myself, @longwood50, @astro .

Unfortunately it's also directly aimed at and based solely on the US, and while there are obviously some comparisons and similarities it's got very little if anything to do with Thailand.

[Cabra]

28 minutes ago, Stonker said:

it's got very little if anything to do with Thailand

Dealing with you is like dealing with a 12 year old child. Tedious AF.  Enough already I don't have to be right as desperately as you. The 26% increase in 2012 didn't end the Thai economy, and either will the 46% increase in 2022. The end

[longwood50]

Milton Friedman

Nobel Prize for Economics

Professor of Economics at University of Chicago 
Senior Fellow Economics - Hoover Institute Stanford University




This applies to those that think that "they are doing good" by raising the minimum wage.  It is well intentioned but misguided.  History is replete with examples of how raising the minimum wage in other countries hurt those trying to gain experience by climbing into the job market and work their way up.  It leads to outsourcing to other countries and automation to eliminate entry level jobs. 

 

[Benroon]

On 2/14/2022 at 5:51 AM, longwood50 said:

As said, all the experts show irrespective of country, you raise the price of labor and the worker gets hurt, not helped. 

<excess images without link removed>

OK give us some examples - I've given you an example of why you're talking nonsense so now your turn. Here's a quote from an American thinktank 

The evidence, however, is clear: Raising the minimum wage does not have the harmful effects that critics claim. A significant body of academic research finds that raising the minimum wage does not result in job losses, even during periods when the unemployment rate is high.

However just out of interest I googled it for a general opinion, you are going to have to go down a few pages to find support for your view, as every organisation and opinion up to them confirms you're simply wrong. Races to the bottom, which are your preferred choice for economies, do not work.

The UK govt also carried out an extensive review, after all they are going to have to foot the bill, and their evidence led them to believe it is 'overwhelmingly beneficial' to pay a decent working wage. The costs you or someone else claimed of a 42% increase in costs is offset by reduced turnover, thus less recruitment costs, thus less poor morale costs etc etc. A happy workforce is a productive workforce, you don't need google to tell you that.

[Stardust]

2 hours ago, longwood50 said:

No, I am afraid he would need crayons and finger paints for you to understand. 

Says sombody who claims to understand economy but even not understands the differences between the economy of Thailand and the USA!

[Stardust]

1 hour ago, longwood50 said:

What is unbelievable is that you somehow think that there is some difference in how economies work around the world  In a capitalistic economy whether Thailand, the USA, China, or Russia or any place else.  The consumer wants the best product for the lowest cost and will seek that out, the business owner trying to produce that product will search for the lowest cost of both raw materials, products, and labor in order to keep that price low, the worker will try to obtain the highest amount of compensation for their labor. 

It doesn't matter whether that is in Rubles, Euro's USD, or baht.  

Perhaps you "might" but I am not hopeful here the insights of Milton Friedman - Noble Prize Laurate and Professor of Economics has to say about the minimum wage.  Also Walter Williams Professor of Distinction of Economics George Mason University.  They obviously know far more about the destructive aspects of minimum wage. 
 

OMG you not understand the differences between the economies like Thailand, USA or Europe and not the different regulations or nor the different conditions. Also not the labour situation in Thailand including the social structure of Thailand or educatiin systems but think you can anybody explain so.ething about economy. You should first understand some fundamentals before you do that. And on what points researchs are made otherwise all what you write is useless and rubbish.

[longwood50]

13 minutes ago, Stardust said:

OMG you not understand the differences between the economies like Thailand, USA or Europe and not the different regulations or nor the different conditions

No you don't understand that whether it is a third world or a first world economy that policies that raise costs are bad policies. I don't disagree with your intention to help people but the methodology of raising the minimum wage is probably the worst way to accomplish it. 

[longwood50]

20 minutes ago, Stardust said:

Says sombody who claims to understand economy but even not understands the differences between the economy of Thailand and the USA!

Says someone who has likely never run a business, hired an employee or had to sell their products against other competitors. 

[Stardust]

12 minutes ago, longwood50 said:

No you don't understand that whether it is a third world or a first world economy that policies that raise costs are bad policies. I don't disagree with your intention to help people but the methodology of raising the minimum wage is probably the worst way to accomplish it. 

Sorry but your claims are another than the economic researchers made in Thailand. And one main factor was also stagnant wages! There hundreds of pages of the results at the world bank data bank but for sure I am too lazy to explain them because it would needed many pages and I need mire concentration as I would write it in my native languages. But world bank made a short and simple one of the main points and structure of the Thai economy that they can use also for students. Sure not detailed but show some fundamentals

https://www.worldbank.org/en/news/video/2020/10/22/poverty-and-inequality-in-thailand

 

[Stardust]

27 minutes ago, longwood50 said:

No you don't understand that whether it is a third world or a first world economy that policies that raise costs are bad policies. I don't disagree with your intention to help people but the methodology of raising the minimum wage is probably the worst way to accomplish it. 

Please not tell me something about economy if you claim the conditiins in a 3rd world country are the same. And about Thailand they say exactly the opposite and you can use the data banks on the hompages from the ADB Bank, World Bank or KFW Bank! (Also for 3rd world countries).

[longwood50]

1 hour ago, Stardust said:

Please not tell me something about economy if you claim the conditiins in a 3rd world country are the same

As I said, it is obvious that you know nothing about running a business.  Costs, whether that is labor, insurance, transportation, insurance, all impact a business.  That is true in Thailand, the UK, Germany, or anyplace else.  The only thing that is different is the use of the Euro, USD, or Baht.  The economy may be larger in the USA and have more opportunities for workers but that begs to improve the opportunities not make it more expensive to do business here.  Common Sense.  You really out to try it sometime. 

Here is what is already happening with businesses moving out of Thailand compared to cheaper Vietnam and your answer is to raise the minimum wage giving even more companies reason to move out. That is like throwing an anchor to a drowning man to help him. I am sure that the next wave of unemployed Thai's will thank you for raising their minimum wage.  Of course the fact that they will be unemployed doesn't matter because if they had a job it would be at a higher rate.  Liberalism is a Mental Disorder. 

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