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11/10/2013 3:41:13 AM
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Minimum wage; A differing opinion

Watch the video, flud, and then tell me how it's wrong. You know you want to. IMO, in the situation the video describes it makes total sense. However, the real world is a very complex and intricate thing and the issue can't really be summed up in a single video or forum thread. Now feed my inquiring spirit, flud.

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  • This is not an uncommon opinion. Unfortunately, the predicted results don't tend to work out: raising the minimum wage doesn't affect unemployment. Instead, businesses either become more efficient or pass the cost along to customers. On the other hand, a higher minimum wage allows people to spend more money, thereby sustaining other jobs and pushing growth. In a depressed or weak economy, this can be useful. I tend to oppose the idea of a living wage because I don't think people should be making a living off of unskilled labor; instead, unskilled work should be a stepping stone to skilled work. A means to an end rather than an end itself. A minimum wage restricts the ability of the employer to pay for what the work is actually worth, and it holds people back from advancing beyond unskilled labor. Unfortunately, the US isn't in a position to handle the alternative. Poverty is systemic and self-perpetuating. Staggering wealth inequality has decreased opportunities for those closer to the bottom of the ladder. And an incredibly polarized and special-interest-influenced government is ineffective at dealing with these issues. Nobody should have to think about supporting themselves, let alone their families, on minimum wage unskilled labor. We should be able to let the market decide what the real value of this work is, and the jobs should be held on a temporary basis while workers gain the skills they need to advance. But these are all things that "should" happen. I am not confident that they can.

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