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> 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
by enragedcacti 6y 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 6y agoAt the expense of equal losses of employment from people competing for those jobs.
- enragedcacti 6y agoI don't understand what you mean, can you elaborate?
- j7ake 6y 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.