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Minimum wage is a way to avoid total exploitation. The poor have very little bargaining power. But we also need to reduce the supply of labor to keep reasonab
by epicureanideal 2y ago
Minimum wage is a way to avoid total exploitation. The poor have very little bargaining power. But we also need to reduce the supply of labor to keep reasonable wages.
- jas39 2y agoIt is not true. The minimum wage was primarily an eugenic measure introduced during the progressive era. The idea was to prevent Chinese and other immigrants from undercutting white labour. The people arguing for it back then understood the effect of minimum wage very well. They just had different motivations.