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If companies are held to a minimum wage, then they'll pay it. Sure, maybe it becomes more cost effective to invest in technology that requires them to pay less
by rapind 9y ago
If companies are held to a minimum wage, then they'll pay it. Sure, maybe it becomes more cost effective to invest in technology that requires them to pay less people... but I would argue they are doing that already (especially in the context of Uber), regardless of whether it's gig or minimum wage.
Rich people don't buy more stuff in proportion to what they make. So the more money that moves from the lower and middle class, the less business opportunity you have. I'm not going to use 10 times more uber eats than someone who makes 10 times less than me.
It's not a hard problem to solve in theory. Just figure out how to move money the opposite direction and business will boom! It doesn't even have to be a socialist structure. Maybe we just tax companies for their external negative effects?