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Enriching The North: If I Were A Billionaire, How Could I Enrich The North? watch

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    (Original post by HumanSupremacist)
    You cannot just give up on entire regions of a country - especially the seventh biggest economy on the planet. One must work to find solutions; to improve things. We cannot just wash our hands of entire cities and towns.
    See this is where i disagree. The best solution for the north is focus our efforts on the bigger urban areas (Manchester, Liverpool, Leeds, Sheffield, Nottingham) and accept places like Blackburn as acceptable losses. Give those regions a comparative advantage and you'll see people abandoning the likes of Blackburn for the likes of Manchester anyway.
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    (Original post by HumanSupremacist)
    But then, surely, housing costs and many other costs in society would have to be brought down due to people having less money? :curious:
    Yes. That's a good thing.

    You don't think lower costs are a good thing? :lolwut:
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    Wales and the Westcountry are poorer
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    (Original post by Rakas21)
    See this is where i disagree. The best solution for the north is focus our efforts on the bigger urban areas (Manchester, Liverpool, Leeds, Sheffield, Nottingham) and accept places like Blackburn as acceptable losses. Give those regions a comparative advantage and you'll see people abandoning the likes of Blackburn for the likes of Manchester anyway.
    Ever heard of counter-urbanisation?
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    Don't think there's much to be achieved by throwing money around without policy.
    Tbh devolving powers back to local authorities is imo a good start, the decision making in our country is over centralised and imo our london based establishment think of their job as managing the decline of non southern areas and facilitating the growth of the cowboy banking sector in london.
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    (Original post by HumanSupremacist)
    But that brings with it a danger - namely, very, very low wages. Companies naturally want profit and if there's no minimum wage, they'll put wages very low in order to increase profit.
    Debatable. Some would for jobs where there is an exceedingly high demand of applicants who require little prior skill, but that certainly not a hard and fast rule for the way employers pay their employees. If it were then nobody would earn above minimum wage.
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    (Original post by Aspiringlawstudent)
    Yes. That's a good thing.

    You don't think lower costs are a good thing? :lolwut:
    What I was highlighting was that the government would have to force bodies like landlords and whatnot to lower costs, or they might not do such on their own volition. Even now, there is a raging debate about high rents fixed by landlords in London for those in the lower socioeconomic strata.
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    (Original post by HumanSupremacist)
    What I was highlighting was that the government would have to force bodies like landlords and whatnot to lower costs, or they might not do such on their own volition. Even now, there is a raging debate about high rents fixed by landlords in London for those in the lower socioeconomic strata.
    If the government started rent control programs, they would just destroy the supply of rental properties.
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    There isn't enough money in the world to pay for the necessary elocution lessons...
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    (Original post by Aspiringlawstudent)
    If the government started rent control programs, they would just destroy the supply of rental properties.
    So you would leave landlords as they are, yet abolish the minimum wage?? Surely that would cause chaos? Rents in London would still be high, effectively forcing people out from London and making the capital exclusively for the wealthy. What if landlords keep raising their prices regardless?

    Abolishing the minimum wage without considering other factors would be catastrophic.
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    (Original post by Barden)
    There isn't enough money in the world to pay for the necessary elocution lessons...
    So you're now picking on people's accents? So do the Irish need "elocution" lessons? The Scottish? The Welsh? The American? What is our default standard here - 1980s BBC RP?
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    (Original post by HumanSupremacist)
    So you would leave landlords as they are, yet abolish the minimum wage?? Surely that would cause chaos? Rents in London would still be high, effectively forcing people out from London and making the capital exclusively for the wealthy. What if landlords keep raising their prices regardless?

    Abolishing the minimum wage without considering other factors would be catastrophic.
    In 1997, and in every year before that, there was no minimum wage and no rent control.

    Was there total chaos?

    :rolleyes:

    How could landlords keep raising their prices if people had less to spend?

    When aggregate demand decreases as a function of lower purchasing power, there's downward pressure on prices as sellers have to respond to lower demand by increasing effective supply; bringing more properties within the price range of buyers.
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    (Original post by Aspiringlawstudent)
    In 1997, and in every year before that, there was no minimum wage and no rent control.

    Was there total chaos?

    :rolleyes:

    It was certainly worse than it is now.

    How could landlords keep raising their prices if people had less to spend?

    And yet they continue to do so even now.

    When aggregate demand decreases as a function of lower purchasing power, there's downward pressure on prices as sellers have to respond to lower demand by increasing effective supply; bringing more properties within the price range of buyers.

    That's how it should work - but they still continue to increase prices even as the government cuts aid to those of lower socioeconomic levels. Does it make sense that someone on benefits is able to afford such higher costs and yet, those working cannot? And yet, the government claims that it will be solving that issue with its recent budget. We'll see.

    See above.
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    (Original post by HumanSupremacist)
    See above.
    Do you actually know anything about economics :confused:

    You seem to be just making things up. You're not responding with any facts, figures, graphs, charts, statistics, studies etc - you're just saying 'oh, it should be x' or 'but y will happen if x, it'll be chaos!'.

    Sentimentality has no place in economics. You have to rely on evidence.
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    Open all the pits again.
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    (Original post by Aspiringlawstudent)
    Do you actually know anything about economics :confused:

    You seem to be just making things up. You're not responding with any facts, figures, graphs, charts, statistics, studies etc - you're just saying 'oh, it should be x' or 'but y will happen if x, it'll be chaos!'.

    Sentimentality has no place in economics. You have to rely on evidence.
    Do not insult me - I do. :pierre:

    But do you disagree that it won't cause an exodus out of places like London?

    I needn't respond with graphs or anything - you cannot disagree that simply abolishing the minimum wage and leaving it at that will be good. Other factors would need to be considered alongside such.
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    (Original post by HumanSupremacist)
    But do you disagree that it won't cause an exodus out of places like London?

    I needn't respond with graphs or anything - you cannot disagree that simply abolishing the minimum wage and leaving it at that will be good. Other factors would need to be considered alongside such.
    Of course I can... we didn't have it until 15 years ago and everything was fine :confused:
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    (Original post by Renner)
    Look at Newcastle, a wealthy northern city which has recovered from the crash in ship building through the Tyne and Wear development corporation. Build shopping centers, rejuvenate the quayside with trendy bars and build offices.

    Several large law firms operate in Newcastle due to strategic planning of offices and the courts, and on the other side of the Tyne world class art galeries and concert halls were built. Having two decent universities helps too
    Very good example. :yy:
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    (Original post by Aspiringlawstudent)
    Of course I can... we didn't have it until 15 years ago and everything was fine :confused:
    May I ask how do you know what it was like exactly 15 years ago, how old were you then? :curious:
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    (Original post by Aspiringlawstudent)
    Of course I can... we didn't have it until 15 years ago and everything was fine :confused:
    Can you really say that 15 years ago, the conditions were better for those in the lower socioeconomic levels than they are today? :curious:
 
 
 
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