Min wage is argued so that supposedly people get a living wage. This is an argument I don't support simply because it hurts more than it helps. It hurts exactly who it supposedly is there to help. Low skilled workers and minorities. When you artificially raise wages it kills the demand for the worker and raises the standards of hiring. If you're low skilled your only leverage is to work for less and work up the ladder as you gain the experience nessisary.
The idea of companies paying slave wages for higher profits is simply propaganda. Henry Ford was in competition with other manufacturers and learned quickly by raising the wages of his experienced workers he was able to hold onto them. Quite simply this is how it works, just like competition in quality of goods and prices you have competition in wages and workers. Workers compete for jobs and employers compete for workers this is very basic stuff.
Another thing I find it stupid that voluntary transactions are being controlled by a third party. That's what capitalism is voluntary transactions that's why I love it so much and hate socialism which is done by force and threat of violence.
Milton friedman used to say minimum wage was the biggest anti Negro law. Now we wouldn't use that language these days but remember different time but his point was a racist employer if he's forced to pay a specific wage, would hire a white person over a black person. In that case back then when racism was big still a low skilled black persons only leverage was his wage because like I always say capitalism is color blind. That racist business owner would hire someone for less regardless of his racism
Let's discuss this and be respectful to each other in know it will get heated but let's refrain from name calling ok?
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Interesting. Whats the minimum wage in the USA? Over here in the UK its in the ballpark of £7.50p/h. A little more if you work in London due to the disparity in the cost of living there compared to the rest of the country.
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I think I should work for $2 I think I should give all and never have time for myself I don't want to think It's much easier to be a robot who works for $2 to make you happy I just want to make you happy Making you happy is important because you are my boss Being my boss means I owe you everything because you gave me a job, and therefore, life You really are so great! It was your selfishness that saved me from...
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The minimum wage should be $300/hr.
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And get rid of child labor laws too!
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Inb4 MadMax