4 ms·
Why not $50? Why not $75? The quality of the "standard" minimum wage studies is pretty bad, and it should worry people that there has effectively been no upper
by legitster 5y ago
Why not $50? Why not $75?
The quality of the "standard" minimum wage studies is pretty bad, and it should worry people that there has effectively been no upper bound found on the effects of minimum wage. If someone claims they found an infinite money glitch hack of the economy, it probably deserves some scrutiny (Dube did propose an upper limit of 60% the median wage, but it was very informal).
> obviously it will cause some severe disruption but one lesson of the last couple of years is we can adapt to labor changes.
If the adaptation is more young workers move back in with their parents and more women leave the workforce, then yeah I guess? At this point you are being pretty tacit that the tradeoff between higher wages is lower labor force participation.
- TomGullen 5y agoWhy $10? Why not $0?
- anm89 5y agoWe already have a minimum wage of 0. Every person who has no job because of minimum wages gets the true minimum wage of zero. (note transfer payments are not a wage, I'm not saying they have zero access to money)
- deleted 5y ago[deleted]
- notch656a 5y agoAny job between 0 and minimum wage becomes either a 1099 job or a black market job. When people say $25 minimum wage, they really mean make sure anyone paid less is on the black market and has no protections.
- dredmorbius 5y agoThere are instances in which people pay to work --- "finders' fees", "placement", various assessments to supply tools, (mandatory) uniforms, station rental, etc. Involuntary servitude still exists, even in advanced countries, though it is illegal, usually as "white slavery", mostly immigrant sex workers. $0 is not the lower limit.
- ctdonath 5y ago$0 is the real minimum wage. If one cannot produce value commensurate with wages, the wages will end and alternative work solutions found.
- exabrial 5y agowhy not $250,000?
- commandlinefan 5y ago> Why not $50? Why not $75? You don’t have to look hard to recognize that people who push for an increase in the minimum wage are actually pushing for raising the minimum wage to “infinity” (in their mind) - i.e. communism.
- naikrovek 5y agothat is ridiculous on its face.