It doesn’t. That’s not my point at all. My point is these regulations don’t apply to foreign companies, who can therefore compete better and potentially take over. The local businesses shrink or go bust and people end up unemployed.
Increasing taxes or mandating minimum wages don’t work unless you can do it globally. Doing these things locally won’t fix capitalism, we need to be rid of capitalism. I am not saying you shouldn’t try to do these things, but understand it isn’t a perfect solution and that there will be problems until there is no more capitalism worldwide.
And what exactly does that have to do with businesses that can’t operate well deserving to stay in business?
If capitalism breeds innovation, then innovate and find a way to pay your workers well in a safe and clean workplace.
It doesn’t. That’s not my point at all. My point is these regulations don’t apply to foreign companies, who can therefore compete better and potentially take over. The local businesses shrink or go bust and people end up unemployed.
Increasing taxes or mandating minimum wages don’t work unless you can do it globally. Doing these things locally won’t fix capitalism, we need to be rid of capitalism. I am not saying you shouldn’t try to do these things, but understand it isn’t a perfect solution and that there will be problems until there is no more capitalism worldwide.