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I define a proper wage as such that for jobs that society deems necessary (e.g., taxi drivers) people are able to live a life above the poverty line. The textbo
by thesumofall 10y ago
I define a proper wage as such that for jobs that society deems necessary (e.g., taxi drivers) people are able to live a life above the poverty line. The textbook definition of supply and demand is a bit too simplistic here. Uber has artificially increased supply to starve of competition and to create network effects for the sake of them, they lowered prices by creating externalities that others have to pay for, and they lured (sometimes barely educated drivers) into a job that paid less and less over time.
- GarrisonPrime 10y agoSociety deems things necessary based on what people want, what can be provided to them, and at what price it can be provided. If society isn't willing to pay taxi drivers enough for them live above the poverty line, then society doesn't really want taxi drivers that much, does it?