3 ms·
Isn't the point of unions/minimum wages designed to artificially lift the floor (or lower ceiling of efficiency) of an efficient market to keep human values of
by jakecopp 8y ago
Isn't the point of unions/minimum wages designed to artificially lift the floor (or lower ceiling of efficiency) of an efficient market to keep human values of happiness and respect decent?
I suppose then you're still left with competitiveness between countries.
- TeMPOraL 8y agoI think that would be their (unions/minimum wages) stated purpose, though in practice, implementations have their own set of problems (e.g. unions being corrupt and acting as rent collection instead of being the counterbalance to market optimization, minimum wage being too low, etc.).