living wage not enough

The Guardian`s editorial on the living wage stated that it is an "optional add-on for employers who can be embarrassed or inspired to pay fairly". Surely the fact that Miliband has to offer tax breaks to encourage employers to do so proves how over-optimistic your view is; domestic and international news increasingly emphasise the disappearance of responsible capitalism, with mis-selling, manipulation and tax avoidance seemingly the order of the day.So many examples exist of companies seeking profits above all else, with little care for their workers and customers, and no thoughts whatsoever of improving the economy of this country, or indeed, increasing the taxes paid into the Treasury.

  Even making the payment of a living wage compulsory by law is insufficient; company bosses will compensate by either increasing prices to the consumers, extending  the number of zero-hours contracts for their workforce, and employing more students, or increasing the use of tax havens, or clever accountants, in their  efforts to reduce corporate tax payments.Will workers paid a living wage be better off if their un-regulated landlords increase their un-capped rents, as many will undoubtedly do? Just because the majority of us recognise that "there is such a thing as a threshold of decency", does not mean it can be achieved in this era of selfish irresponsibility. Miliband would do better to promise a government of responsible socialism!