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"So ask yourself, what kind of world has work but no jobs." The article gets it completely wrong. A world with a high minimum wage has work to be done, for exa
by ucaetano 9y ago
"So ask yourself, what kind of world has work but no jobs."
The article gets it completely wrong. A world with a high minimum wage has work to be done, for example, but no jobs.
There's always work to be done. The existence of jobs depends on somebody willing to pay someone the market rate for that job. In many cases, the market rate is too high for the value of the work performed.
Minimum wage essentially outlaws all work that generates less than a certain value.
- deleted 9y ago[deleted]
- imtringued 9y ago>There's always work to be done. In theory wages can be negative. So there will always be infinite demand for work to be done unless the government sets a minimum wage.
- ucaetano 9y agoActually, negative wages are allowed by the government. But the main confusion is between work and job. Works is anyone performing a task. A job is someone paying you for that, and in the strict sense, someone hiring you to do it on a contract.