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>A more productive conversation would be to define the minimum quality of life that one should have, then calculate the cost of it, then divide by how many hour
by djbebs 5y ago
>A more productive conversation would be to define the minimum quality of life that one should have, then calculate the cost of it, then divide by how many hours one “should” work to achieve that quality of life.
That's not productive at all for the simple fact that you cannot legislate people into wealth.
The real minimum wage is and will always be zero, because that is how much workers who are less productive than the legal minimum will get.
Let's be clear as to what a minimum wage actually is, it's simply and exclusively making employing unproductive people illegal.
It does not, and can not ever help low value added workers for the simple reason that all it does is prohibit them from working.
- enragedcacti 5y ago> Let's be clear as to what a minimum wage actually is, it's simply and exclusively making employing unproductive people illegal. It also gives raises to those whose productivity exceeds their negotiating power.
- djbebs 5y agoAt the expense of equal losses of employment from people competing for those jobs.
- enragedcacti 5y agoI don't understand what you mean, can you elaborate?
- j7ake 5y agoI think it means that if a company had money for $14/h for labour, and it originally hired 2 people for $7/h, then if minimum wage was raised to $14, one person would be fired and the other (presumably better) worker would get a raise. But total available capital for labour for the company did not change.
- rdtwo 5y agoIt also prevents subsidies from government to corporation. In many cases the minimum wage job creates less value for the local government than having the person do nothing at all. In those situations the job should not exist