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>> Workers don't specifically need a job at that company. Even if they need a job, they can go work somewhere else. And if that isn't the case, you have bigger
by TuringNYC 6y ago
>> Workers don't specifically need a job at that company. Even if they need a job, they can go work somewhere else. And if that isn't the case, you have bigger problems than minimum wage.
This works in a theoretical perfect competition in an economics textbook. In real life people have financial handcuffs (vesting periods, mandatory option execution/abandonment on job exit), school districts for children, underwater mortgages, 10% gross transaction fees on home sales/purchases.
- AnthonyMouse 6y ago> vesting periods, mandatory option execution/abandonment on job exit We're talking about minimum wage jobs. None of that applies. > school districts for children, underwater mortgages, 10% gross transaction fees on home sales/purchases. Nobody says you have to move. Take a job from another employer in the same city. Also, again, minimum wage employees? Typically not homeowners.