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There's "economics" and then there's real world effects. Take some time to study what actually happens in countries with a living wage.
by mdoms 6y ago
There's "economics" and then there's real world effects. Take some time to study what actually happens in countries with a living wage.
- seiferteric 6y agoMy point is about questioning minimum wage specifically, as opposed to other tools like EITC or negative income tax.
- mrweasel 6y agoOr study what happen in countries without a minimum wage, like Denmark. The argument isn’t that you shouldn’t pay a living wage. In Denmark there’s no minimum wage, yet people are paid well. The wages are agreed upon by the employeers organisations and the unions. It does set a minimum wage per industry, but the important part is that it’s not set by politicians who have no idea what the real world looks like in each industry. A universal minimum wage risks being to low for one industry, while being to high for another. It makes more sense to do collective agreements per industry, and by having the unions act on behalf of the employees you ensure sufficielt leverage against the employers.