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If 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
by pemulis 15y ago
If 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?