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It has been pretty plain to see that relying on individual companies to raise minimum wages has failed and that companies see no need to increase wages from the
by rbg246 8y ago
It has been pretty plain to see that relying on individual companies to raise minimum wages has failed and that companies see no need to increase wages from their myopic perspective.
A country knows what their bottom line can make good decisions as well.
They employ economists and other experts who can assess the effects of raising a minimum wage in a way that an individual company cannot assess.
Countries can also experiment and make decisions on available data and have controls like inflation and other macroeconomic levers to adjust wage levels to prevailing economic conditions.
I think shutting off an entire sector of economics and leaving it purely to the 'free' market is a dangerous suggestion
- Fellshard 8y agoThis is a case of seeing what they want to see, though: they'll listen to economists who tell them what they want to hear, i.e. that more government power will be helpful, and ignore the vast number of economists that take a more durable analysis. Also, I'm not sure if you're reading the same article as I am; this is a private company raising its own minimum wage, from its own myopic perspective.