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Your post reads like a very bleak argument against the minimum wage. Increasing the median should mean that those above the median also see an increase through
by Tsagadai 10y ago
Your post reads like a very bleak argument against the minimum wage. Increasing the median should mean that those above the median also see an increase through economics. If the price something is $X then the price of a premium something is still going to be greater than $X.
- thedufer 10y ago> the price of a premium something is still going to be greater than $X Yes, but how much greater than $X is the question. If median salary goes up, high performers have to come down a lot in order to not run out of money.
- morgante 10y agoNot really. Increasing the median by itself does not bring down the pay for top performers. The problem is decreasing variance, which does and fixed formula or transparent salaries are both designed to limit variance. Personally, I'd never want to work somewhere where my salary is set by a formula of my "experience" level.