The right wage is the one that subjects so called’employers’ to competition from employees. Less is theft and crime.
If that’s the case, why should it be determined by law?
By mandating an artificial limit, you destroy (ban) competition beyond that level (whether it’s the minimum or maximum).
But that’s what the minimum wage is about - preventing the less able workers to compete.
That s what it really does but not how the idea is marketed.
No I dont think that is what the minimum is about at all. Study Brittain new poor laws. Part of it is to save the lives of the wealthy from a violent death at the hands of their own violent greed. Another part is to keep concentration camp style work reform houses and debtors prisons from setting up. All very canabalistic.
As for wage average competitive wage levels needing to be the norm- in incentivising a competitive wage for truely competitive goods and markets and a higher quality of life, part of that can be done through tax code, part through commerce code and part through education that isn’t systematcally designed to damage and dumb down children through abject criminality and psych warfare- end soft lobotomization.
Also couldnt matter less if less able workers compete. Hate the vision of special olympiads being made to compete for food or compete period. People are being pitted against automation anyway, so the notion is especially inane.
Current wages are in general designed to keep people down and suppress competition and opportunity. Instead of a younger worker meeting an older mentor and actually getting a loan straight from that mentor to get their start we have a keep people down system designed to psychologically errode and deny the material means to develop and compete.
They still wouldn’t have to compete, just like noone has to apply for a minimum pay job. They just could, if they wanted to.
You’re saying that there are many capable employees working for a wage lower than they deserve (meaning, they generate way more in profits than they get in wages). If that was true, it wouldn’t take long to some greedy entrepreneur to hire them away, give them a little bit more (but still “less” than he’d have to pay on the free market where prices more closely reflect value, including those of labor) and easily get rich.
The entrepreneur wouldn’t even need to be above-average - all it’d take for him to get rich would be to be average, and purely by the cost advantage he could still realize above-average profits. Easy peasy!
Edit: real men deal with adversity!
Seeking out the poorer quarters
Where the ragged people go,
Looking for the places
Only they would know.
Asking only workman’s wages
I come looking for a job,
But I get no offers,
Just a come-on from the whores
On Seventh Avenue
I do declare,
There were times when I was so
I took some comfort there.
McDonalds is replacing cashiers with self-order kiosks in many 15 dollar per hour minimum juristictions. This also cuts down on theft…
But the min wage they pay is higher, right?
That’s all that matters.
@Warren is all for killing off profiteering middlemen…
In today’s world we could just put QR codes on with the menus on the table. Scan what you want -pay via cryto, and the food is assembled, No stinking cashier middleman at all!!!
Down with middlemen.
This is the problem with most of his arguments. There is a double standard where the rich are profiteering bastards and the middle class is hard working deservers of all they have earned (or not earned) But there really is no place to draw the line. Right and wrong are right or wrong. You can’t have two standards… Freedom is an all or nothing proposition. True freedom cannot come by passing tyranny against others that fall outside of your circle of acceptance.
@janitor as per the profit efficient competitive wage and Special Olympiad calibur workers you’re suggesting they get welfare or die? You, pro welfare? Lolz!
@jreighley your middle men are actually the bottom men. Can’t cut them out without a machine gun. And why would you, they are them most vulnerable and least in a position to fend for themselves. Also if you don’t feed the dogs you can’t string them along with your goods and they stop minding and the shooting starts.
McDonalds will now pay higher taxes for displaced workers or get displaced from jurisdictions itself. Its not like McDonalds execs would be flipping bugers, making shakes or eating Mcdonalds fake gmo petrol corn food.
@janitor nice poem.
@Warren 'Tis what is 'tis. I didn’t make it happen. Technology and economics is agnostic to agendas.
If you raise prices of anything folks will seek a more economical alternative.
I am sure they ran the math on the taxes etc before they pulled the trigger on the kiosks…
They can always pay less taxes by reducing prices – Putting even more pressure on their competitors to follow suit and cut labor costs. That’s how it works. You don’t have to like it…
Actually I do like that part. People will almost always seek to better their situation.
Robo-cashiers don’t count against the Obamacare mandates. Rarely call in sick – don’t enter orders incorrectly or undercharge their friends… They are a one time investment verse an recurring expense.
All in all it is a pretty big win…
If it is okay for the banks to use ATM’s why ought it be any different for fast food?
It isn’t going to drive profits up – Most likely their prices will remain the same while it becomes more and more impossible for their competitor to say afloat financially while complying with the tyrants demands of 15 dollars per hour for high school kids… The competitors will follow suit or close.
The socialists can play games, but the market doesn’t play games… If you build a mountain in front of a river, the river will still get to the sea – It will just flow around whatever obstacle there is.
I am pro automation but once most people are automated out you cant just lable the losers, the or their kin will have been largely responsible for that automation. When they cant pay that stuff becomes defacto infrastructure and if they pay by the dole its the same. Keynes forsaw this point and wrote about it.