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You could argue that mandatory minimum wages are a poor way of raising incomes. It's basically putting the burden solely on employers. Some people argue that th
by hencq 9y ago
You could argue that mandatory minimum wages are a poor way of raising incomes. It's basically putting the burden solely on employers. Some people argue that this means businesses become less competitive, which leads them to hire less. Perhaps abandoning the minimum wage, but replacing it with a basic income, e.g. through a negative income tax, might yield better results. I don't know enough about it to have strong opinions on this, but just wanted to point out that minimum wages are just one solution/tool.
- dredmorbius 9y agoBasic income is effectively the same thing as an employer-of-last resort (at a guaranteed wage), without the obligation to work. I'm not saying that one is better than the other -- I don't have an opinion on that. I am saying that the market effect is the same.