4 ms·
> eg, if I have cleaning work that requires 1hr of labour and generates value of $10, it theoretically will not happen under a minimum wage regime of $11/hr Tr
by ukoki 8y ago
> eg, if I have cleaning work that requires 1hr of labour and generates value of $10, it theoretically will not happen under a minimum wage regime of $11/hr
True, but I think the far more common scenario is this: I have cleaning work that generates value of $25/hr. Since the labor is unskilled and there is ample supply I can pay my workers the minimum wage and still find plenty of applicants. If there was no minimum wage I could pay them $5/hr and would still have plenty of applicants who would be even more impoverished.