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Doesn’t your argument apply for any value of the minimum wage, whether it is $7, $15 or $100?
by kgwgk 8y ago
Doesn’t your argument apply for any value of the minimum wage, whether it is $7, $15 or $100?
- XorNot 8y agoIt applies anytime minimum wage is a separate number to market rates for work when there's a competitive hiring environment. The target demographic of HN, for example, we all value ourselves well above minimum-wage rates. You can always make the numbers really stupid if you want to get bizarre looking answers, but that's not the reality we live in - minimum wage just barely covers living expenses sometimes.
- kgwgk 8y agoSo your claim that "you clearly in no way value the skills any of these people bring to the business, otherwise you'd be inclined to offer more in the first place" is true whenever you're paying (the minumum wage that is) less than market rates. That's seems quite uncontroversial. If you pay less than market rates you may have a problem (in a perfect market, at least).