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2/14/2013 6:23:03 PM
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[url=http://www.huffingtonpost.com/2013/02/13/minimum-wage-productivity_n_2680639.html?icid=maing-grid7|hp-laptop|dl3|sec3_lnk3%26pLid%3D270352]If the minimum wage kept up with productivity, it would be $21.72 per hour.[/url]
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  • Edited by A Good Troll: 2/14/2013 6:52:24 PM
    Think about it a bit before you post it. Why should a worker be credited for advances in production due to technology? That is crediting technological advancements to human production. Worker productivity is simply calculated - it is in its basis GDP output / worked hours. As an example, of course the average farmhand is more productive than they were in the 1960s. Crop yields per acre are up due to advancements in fertilizers and pesticides and increases in efficiency of farm equipment. That doesn't mean the worker should be credited with working twice as hard. In fact, he probably has an easier job effort-wise than what a comparable worker did in 1960. As a result of increased efficiency, that is why you see inflation-adjusted prices of farm products falling in general. If the farmer had to pay worker productivity in-line with technological output increases AND pay out of pocket for that same technology (new fertilizers, new machinery, and other tech products are expensive out of pocket costs that 1960 farmers did not have to duplicate), you'd see radically higher food prices.

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  • You should try reading some David Harvey.

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