Maastricht Treaty revisions needed?

[kandrathe]

I'm all for it anyway, but it's not going to put millions of people back to work in the near future.

The reason I suggested the change on minimum wage be temporary is that it will be an incentive for new companies, not much of an answer for the unemployed. Companies that can survive a re-implementation of a minimum wage will be the ones to lift the poor out of poverty, and every dollar they earn is one that doesn't need to be taken from someone else. The problem with the contraction in the economy is that essentially, the jobs are destroyed. It will take time for people to transform themselves, which means often they must start over at the bottom of a new industry. Or, wait for a new company to be formed to which they can be hired. There is no way to flip a switch to return to mid 2007. Case in point, the US auto industry is transformed forever, and the tens of thousands of people whose specialty was to design, or build cars is not needed (at least in Detroit, maybe they can learn Mandarin).

But, the sooner we get to doing it the better.