5 ms·

What do we do for the businesses that cannot support a sudden increase in labor costs?

kieselguhr_kid 5y ago
Businesses have no right to exist. If you can't pay the prevailing wage, then you don't belong in business. I know that sounds harsh but that's the reality that workers live with every day. Can't pay the prevailing rent? You have to sleep in the streets. Can't pay for medical insurance? You get to die from a treatable disease. Why should there be more consideration for businesses than there is for human beings?
- douglaswlance 5y ago
  > If you can't pay the prevailing wage, then you don't belong in business. They may be able to pay an increased wage when the rest of the economy catches. So it may be optimal for the economy as a whole to support businesses temporarily.
  - kieselguhr_kid 5y ago
    That's fine. I'm not against temporary subsidies, especially during particularly weird times. But I am frustrated by how the same people who regularly preach about how we need to let the free market work are now mewling about the wage market being too hot.
- s1artibartfast 5y ago
  Nobody is claiming that businesses have a right to exist. Workers need jobs so that they don't end on the street and die. The concern is viable job opportunities disappearing and not being replaced. Businesses closing is an important subject to monitor because nobody wants to live in a failed economy where most of the population is unemployed and starving.
  - TheCoelacanth 5y ago
    It seems like a stretch to predict that workers will end up destitute because of wages being too high. As some businesses go out of business due to wages, that will put downward pressure on wages and keep things affordable for the remaining businesses.
    - s1artibartfast 5y ago
      >As some businesses go out of business due to wages, that will put downward pressure on wages and keep things affordable for the remaining businesses. Not necessarily. 1) there can be regulatory floors on wages. Half the folks in this thread are calling for higher minimum wage. 2) if cost of living outpaces wages, there may not viable business model at all for low wage employers. 3) it may be the case that in some markets working at all lowers the effective income due to welfare cliffs.
908B64B197 5y ago
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Businesses have no right to exist. If you can't pay the prevailing wage, then you don't belong in business. I know that sounds harsh but that's the reality that workers live with every day. Can't pay the prevailing rent? You have to sleep in the streets. Can't pay for medical insurance? You get to die from a treatable disease. Why should there be more consideration for businesses than there is for human beings?

douglaswlance 5y ago
> If you can't pay the prevailing wage, then you don't belong in business. They may be able to pay an increased wage when the rest of the economy catches. So it may be optimal for the economy as a whole to support businesses temporarily.
- kieselguhr_kid 5y ago
  That's fine. I'm not against temporary subsidies, especially during particularly weird times. But I am frustrated by how the same people who regularly preach about how we need to let the free market work are now mewling about the wage market being too hot.
s1artibartfast 5y ago
Nobody is claiming that businesses have a right to exist. Workers need jobs so that they don't end on the street and die. The concern is viable job opportunities disappearing and not being replaced. Businesses closing is an important subject to monitor because nobody wants to live in a failed economy where most of the population is unemployed and starving.
- TheCoelacanth 5y ago
  It seems like a stretch to predict that workers will end up destitute because of wages being too high. As some businesses go out of business due to wages, that will put downward pressure on wages and keep things affordable for the remaining businesses.
  - s1artibartfast 5y ago
    >As some businesses go out of business due to wages, that will put downward pressure on wages and keep things affordable for the remaining businesses. Not necessarily. 1) there can be regulatory floors on wages. Half the folks in this thread are calling for higher minimum wage. 2) if cost of living outpaces wages, there may not viable business model at all for low wage employers. 3) it may be the case that in some markets working at all lowers the effective income due to welfare cliffs.

908B64B197 5y ago

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