Politics

Raising the Standard of Living

In poor countries, if people make $1 a day to have them now make a $1 an hour is a vast improvement. There wouldn't be money enough inside the countries to pay people $7 an hour. And such a huge amount of money would bring unbearable economic problems.

A) too much money in the economy and not enough places to spend it, like happened with Spain when they took all the gold from the new world.

B) create a huge income gab between a few and the many.

C) could lead to confiscatory taxes, even outright violent confiscation since the militaries and despots would see the wealth and not being civil enough yet would want to take it.