3 ms·
> The evidence shows they can afford it and they wouldn’t pay it voluntarily, so keep pushing the minimum wage up. You're forgetting the other option they have
by refurb 2y ago
> The evidence shows they can afford it and they wouldn’t pay it voluntarily, so keep pushing the minimum wage up.
You're forgetting the other option they have - invest their money elsewhere.
So instead of having a job that pays $18/hour, there is just no job at all. Is that better?
- toomuchtodo 2y agoDidn’t forget. In a macro with structural labor shortages due to rapidly declining fertility rates, this is unlikely. https://hn.algolia.com/?dateRange=all&page=0&prefix=false&query=labor%20shortages&sort=byDate&type=story https://hn.algolia.com/?dateRange=all&page=0&prefix=false&qu...
- danans 2y agoThe structural labor shortages (and implied rising leverage for workers) are also a reason that corporations are racing towards AI and robotics. By the time robots have replaced large swathes of labor, we will need to consider taxes on automation, which unions will hopefully support.