5 ms·

If a full time job at minimum wage with benefits isn't enough to get out of poverty, then changing the definition of 'full time' seems like an odd solution. Rai

If a full time job at minimum wage with benefits isn't enough to get out of poverty, then changing the definition of 'full time' seems like an odd solution. Raising minimum wage or benefits seems much more reasonable alternatives.

nine_k 10y ago
Raising minimum wage also reduces the number of jobs available fir the most needy.
- c0nducktr 10y ago
  https://www.dol.gov/featured/minimum-wage/mythbuster https://www.dol.gov/featured/minimum-wage/mythbuster
- coldtea 10y ago
  That's a myth. But that raising the work-time per worker reduces the number of jobs available is not a myth, it's mathematical inevitability (unless work-hours needed not only will grow to compensate, but also grow more than if the per worker work-time had remained fixed).
- Helmet 10y ago
  Incorrect - raising the price of labor does not decrease the demand for labor. It's a movement along the demand curve, not a shift. Ultimately, what will influence the amount of jobs available at Walmart will be the demand for Walmart's products, macro economic trends, technological innovation, etc. They're obviously not doing this out of a goodness of their heart - their doing it because their stores are a mess and sales have been slumping. By increasing worker's wages, their betting that the increase in productivity will spur demand for Walmart's products.
  - kgwgk 10y ago
    > Incorrect - raising the price of labor does not decrease the demand for labor. It's a movement along the demand curve, not a shift. But wouldn't this movement along the demand curve reduce the number of jobs available (at the point where demand and supply cross)?
    - wooter 10y ago
      Remarkable that simple application of the yet-to-be-disproven (or even seriously contested) theory of supply and demand to the price of labor is downvoted where you'd expect to find rational people. https://fee.org/articles/raising-the-minimum-wage-wont-alleviate-poverty-lowering-it-might/ https://fee.org/articles/raising-the-minimum-wage-wont-allev...
    - Helmet 10y ago
      That's what my second point was alluding to - I should have been more clear: Since the premise is that the demand for Wal-Mart's products has fallen due to worker unproductivity, their bet is that there will be a new demand curve altogether by increasing their productivity, one that is shifted to the "right" of the original one. The price of labor is counteracted by the new demand for it.
      - kgwgk 10y ago
        nine_k's remark was about the general effect of raising the minimum wage. You seem to be talking about Walmart deciding to pay more to their workers, a completely different issue.
    - deleted 10y ago
      [deleted]
- Klinky 10y ago
  The most needy who barely survive on minimum wage? That's not compassion for the most needy, it's exploitation of the most needy and government safety nets.
- contravariant 10y ago
  Obviously some jobs might become unviable if you raise the minimum wage. However unless society fails catastrophically there will always be demand to fulfil everyone's basic needs, which should supply enough jobs to fulfil those needs.

nine_k 10y ago

Raising minimum wage also reduces the number of jobs available fir the most needy.

c0nducktr 10y ago
https://www.dol.gov/featured/minimum-wage/mythbuster https://www.dol.gov/featured/minimum-wage/mythbuster
coldtea 10y ago
That's a myth. But that raising the work-time per worker reduces the number of jobs available is not a myth, it's mathematical inevitability (unless work-hours needed not only will grow to compensate, but also grow more than if the per worker work-time had remained fixed).
Helmet 10y ago
Incorrect - raising the price of labor does not decrease the demand for labor. It's a movement along the demand curve, not a shift. Ultimately, what will influence the amount of jobs available at Walmart will be the demand for Walmart's products, macro economic trends, technological innovation, etc. They're obviously not doing this out of a goodness of their heart - their doing it because their stores are a mess and sales have been slumping. By increasing worker's wages, their betting that the increase in productivity will spur demand for Walmart's products.
- kgwgk 10y ago
  > Incorrect - raising the price of labor does not decrease the demand for labor. It's a movement along the demand curve, not a shift. But wouldn't this movement along the demand curve reduce the number of jobs available (at the point where demand and supply cross)?
  - wooter 10y ago
    Remarkable that simple application of the yet-to-be-disproven (or even seriously contested) theory of supply and demand to the price of labor is downvoted where you'd expect to find rational people. https://fee.org/articles/raising-the-minimum-wage-wont-alleviate-poverty-lowering-it-might/ https://fee.org/articles/raising-the-minimum-wage-wont-allev...
  - Helmet 10y ago
    That's what my second point was alluding to - I should have been more clear: Since the premise is that the demand for Wal-Mart's products has fallen due to worker unproductivity, their bet is that there will be a new demand curve altogether by increasing their productivity, one that is shifted to the "right" of the original one. The price of labor is counteracted by the new demand for it.
    - kgwgk 10y ago
      nine_k's remark was about the general effect of raising the minimum wage. You seem to be talking about Walmart deciding to pay more to their workers, a completely different issue.
  - deleted 10y ago
    [deleted]
Klinky 10y ago
The most needy who barely survive on minimum wage? That's not compassion for the most needy, it's exploitation of the most needy and government safety nets.
contravariant 10y ago
Obviously some jobs might become unviable if you raise the minimum wage. However unless society fails catastrophically there will always be demand to fulfil everyone's basic needs, which should supply enough jobs to fulfil those needs.