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Try at the very minimum matching to inflation, and adjusting the current wage to what it would be if it were. Then all you have to decide is whether the minimum

Try at the very minimum matching to inflation, and adjusting the current wage to what it would be if it were. Then all you have to decide is whether the minimum wage should’ve been a thing in the first place.

scarface74 7y ago
The “living wage” would be different for someone with no dependents and no health problems than someone who has health problems and/or kids.
- Consultant32452 7y ago
  When I read "living wage" I parse it very literally. It sounds like something close to "capable of purchasing just enough food calories for one person to live." It certainly would not afford you luxuries like having children. I'm sure that's not what most people are intending to communicate, but I think that's a good starting point to demonstrate how meaningless the phrase "living wage" really is.
  - scarface74 7y ago
    Well, you can buy a lot of food calories cheaply from McDonalds.... http://freakonomics.com/2013/03/21/the-most-bountiful-food-in-human-history/ http://freakonomics.com/2013/03/21/the-most-bountiful-food-i...
deleted 7y ago
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Consultant32452 7y ago
I feel like there's a lot of assumptions in that suggestion that I don't necessarily accept. The biggest is the assumption that the minimum wage sets the market rather than the market setting the minimum wage. I believe the market conditions during a period of time have heavy influence on the legislated minimum wage. Imagine if 50 years ago you could easily import millions of impoverished people willing to work for a lower wage and could also force your local worker to compete against a $0.15/day ($1 in 2019 adjusted for inflation back to 1970) foreign worker. Do you think that would have impacted 1970s minimum wage regulations? I do.
- taurath 7y ago
  The market doesn’t set the minimum wage. The market actively pushes wages down, as we’ve seen even with a very small unemployment rate wages haven’t gone up.
  - Consultant32452 7y ago
    What do you think the market is aside from the cumulative actions of all of the individuals in the economy such as workers (voters) and businesses? Why do you believe workers/voters were able to demand a higher minimum wage 50 years ago? I explained what I think changed, I'm curious to know your thoughts.

scarface74 7y ago

The “living wage” would be different for someone with no dependents and no health problems than someone who has health problems and/or kids.

Consultant32452 7y ago
When I read "living wage" I parse it very literally. It sounds like something close to "capable of purchasing just enough food calories for one person to live." It certainly would not afford you luxuries like having children. I'm sure that's not what most people are intending to communicate, but I think that's a good starting point to demonstrate how meaningless the phrase "living wage" really is.
- scarface74 7y ago
  Well, you can buy a lot of food calories cheaply from McDonalds.... http://freakonomics.com/2013/03/21/the-most-bountiful-food-in-human-history/ http://freakonomics.com/2013/03/21/the-most-bountiful-food-i...

deleted 7y ago

[deleted]

Consultant32452 7y ago

I feel like there's a lot of assumptions in that suggestion that I don't necessarily accept. The biggest is the assumption that the minimum wage sets the market rather than the market setting the minimum wage. I believe the market conditions during a period of time have heavy influence on the legislated minimum wage. Imagine if 50 years ago you could easily import millions of impoverished people willing to work for a lower wage and could also force your local worker to compete against a $0.15/day ($1 in 2019 adjusted for inflation back to 1970) foreign worker. Do you think that would have impacted 1970s minimum wage regulations? I do.

taurath 7y ago
The market doesn’t set the minimum wage. The market actively pushes wages down, as we’ve seen even with a very small unemployment rate wages haven’t gone up.
- Consultant32452 7y ago
  What do you think the market is aside from the cumulative actions of all of the individuals in the economy such as workers (voters) and businesses? Why do you believe workers/voters were able to demand a higher minimum wage 50 years ago? I explained what I think changed, I'm curious to know your thoughts.