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Are they worth X though? What if they produce X-1 in value? Would you hire someone who cost more than they produced? Someone's wage has an absolute ceiling at
by bmcusick 9y ago
Are they worth X though? What if they produce X-1 in value? Would you hire someone who cost more than they produced?
Someone's wage has an absolute ceiling at the level of "this is how much value I produce per hour". No one will hire you for more than that. And currently, there are some people who cannot be hired at minimum wage.
A UBI (and national health insurance) would help a lot with wages though. With less fear of losing their job, employees would have more bargaining power. They'd also have more resources to spend on commuting or time off work for interviews. By expanding the number of potential employers a person has access to, you indirectly allow them to bargain for higher wages, even without explicitly setting a minimum wage.