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I've always thought that a 30 hr work week should be regulated, forcing employees to demand higher wages in order to survive, forcing employers to raise wages,
by colanderman 15y ago
I've always thought that a 30 hr work week should be regulated, forcing employees to demand higher wages in order to survive, forcing employers to raise wages, and forcing CEOs to be paid less, thus reducing the income gap.
- pemulis 15y agoIf that sort of thing was effective, income inequality would have dropped over the past 60 years as government regulations raised the minimum wage and shortened the work week. Instead, it dramatically increased. http://en.wikipedia.org/wiki/File:United_States_Income_Distribution_1947-2007.svg http://en.wikipedia.org/wiki/File:United_States_Income_Distr...
- hackinthebochs 15y agoThe problem is that minimum wage has never overtaken inflation. So in fact the minimum wage has effectively fallen over the last 60 years. Plus, the gains in production due to automation has worked to concentrate wealth at the top. The point is we can't say regulation wouldn't be effective considering trends of income distribution.
- dwiel 15y agoI'm not 100% I agree with the grandparent, but how do you know that the income inequality would have been even worse without these regulations?
- orangecat 15y ago"Reducing the income gap" is not an inherently good thing. If it is, you should be thrilled with the current economy: incomes for the rich have fallen more on a percentage basis than for the poor and middle class.
- ippisl 15y agoWithout a union , workers has almost no power in today's market.