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What was “meant” to be the case for an economic policy is quite besides the point. If wages don’t keep pace with the rise in housing prices, upward mobility for
by websites2023 5y ago
What was “meant” to be the case for an economic policy is quite besides the point. If wages don’t keep pace with the rise in housing prices, upward mobility for low wage workers decreases. They rely more on public services. The have poorer health outcomes. This has real consequences for the economy overall.
Dismissing this concern with “it wasn’t meant to do that” is a little like seeing a man with a bandaid over a gaping axe wound and saying, “well, sucks for him — but that bandaid wasn’t meant to stop that much blood.”
- dragonwriter 5y ago> If wages don’t keep pace with the rise in housing prices, upward mobility for low wage workers decreases. The article we are addressing is not about minimum wage failing to keep pace with housing inflation, or general inflation, both of which are reasonable things to complain about. So, while the above observation is correct, it is not germane to the article under discussion, which makes no historical comparisons of the adequacy of the minimum wage to the standard it complains it does not currently reach anywhere in the US.
- weezin 5y agoAfter minimum wage was increased in 2009 there has been a decrease in the amount of people that make minimum wage every year. I'm assuming this is due to COL increases. A lot of the people making it at this point are probably being supported by their family. https://www.bls.gov/opub/reports/minimum-wage/2017/home.htm#:~:text=The%20percentage%20of%20hourly%20paid,collected%20on%20a%20regular%20basis https://www.bls.gov/opub/reports/minimum-wage/2017/home.htm#....