Not sure what you have against minimum wage, it works well in other countries (I’m from the Netherlands). Obviously it doesn’t solve everything by itself, but it’s definitely a valuable part of a range of measures to treat people fairly. It’s a fantasy that everyone can be educated to a level above minimum wage.
Minimum wage works. Here is an article from the german newspaper FAZ (leans economically right) that presents a study that shows the low income sector has shrunk since the implementation of minimum wages.
Germany before had one of the biggest low income sectors in the western world.
And no, the unemployment rate did not skyrocket. In fact, Germany is as close to full employment as it gets.
Ah, got it, so all our problems are the fault of those pesky workers wanting to afford to survive, and not those who refuse to function unless they’re exploiting others…
Makes perfect sense, “economist”… 🙄😂
That video does give good arguments, but to suggest that this is not a controversial issue in economics is perhaps a bit dishonest. Granted, I suppose I suggested that as well.
e: that channel’s Breadtube vs Economics series seem pretty good, thanks for the pointer. Seems like the channel is left-leaning, and this makes me doubly happy. A political left with good knowledge on economics would be a great thing.
Since as many as 10 percent of the lowest-wage workers leave or start jobs every month, any decrease in the number of full-time equivalent jobs will mean that some workers will take more time finding a new job, or will work fewer hours. But many of these workers may still see their annual earnings rise because of their wage increase.
Yes, that’s what happens in a minimum wage environment, although not every single time like people have shown in these threads. But when somebody doesn’t start a business, that’s invisible.
What is visible is when an existing business’s costs rise above the minimum wage level. There are plenty of reasons why this could happen, 9/10 of them not being “the C-levels are paid too much”. That’s when they start firing people or just go under which essentially fires everyone.
Perhaps we want a society that don’t have employment for the people who can only work below a minimum wage level. That’s some sort of a decision, I just want to be honest about making that decision.
It doesn’t even happen a statistically significant number of times, you’re just parrotting what executives want you to believe, believing they know what’s best for you
Having bit more than basic education in economics, I suppose.
Well there’s your problem: neoclassical / neoliberal / Chicago School economics, which has become hegemonic in universities around the capitalist world, is garbage.
You clearly don’t have even a basic education in economics. There’s enough data across a variety of jurisdictions and history at this point to establish the effectiveness of the minimum wage.youre choosing to ignore that and simp for managers and capital owners.
Not sure what you have against minimum wage, it works well in other countries (I’m from the Netherlands). Obviously it doesn’t solve everything by itself, but it’s definitely a valuable part of a range of measures to treat people fairly. It’s a fantasy that everyone can be educated to a level above minimum wage.
Having bit more than basic education in economics, I suppose.
Is it more or less a fantasy than the fantasy that every employer is able to pay the minimum wage?
If company can’t pay it’s workers a living wage, that company shouldn’t exist.
Indeed. That’s exactly what will happen. And then people whose wage level is below the minimum wage will be unemployed.
And should be given welfare check.
Or UBI as we seemed to agree on other part of the thread. Either of these are better solutions than minimum wage.
Minimum wage works. Here is an article from the german newspaper FAZ (leans economically right) that presents a study that shows the low income sector has shrunk since the implementation of minimum wages.
Germany before had one of the biggest low income sectors in the western world.
And no, the unemployment rate did not skyrocket. In fact, Germany is as close to full employment as it gets.
Good counterpoint, thanks for that.
Ah, got it, so all our problems are the fault of those pesky workers wanting to afford to survive, and not those who refuse to function unless they’re exploiting others…
Makes perfect sense, “economist”… 🙄😂
I’m afraid that it’s really only a tiny bit more than basic education. Empiric studies refuted the negative effect of minimum wage on employment.
https://www.youtube.com/watch?v=4epQSbu2gYQ
That video does give good arguments, but to suggest that this is not a controversial issue in economics is perhaps a bit dishonest. Granted, I suppose I suggested that as well.
e: that channel’s Breadtube vs Economics series seem pretty good, thanks for the pointer. Seems like the channel is left-leaning, and this makes me doubly happy. A political left with good knowledge on economics would be a great thing.
Sorry I was a bit oversimplified. Had to get off the pooper.
Here is an alternative Piped link(s):
https://www.piped.video/watch?v=4epQSbu2gYQ
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source; check me out at GitHub.
These folks seem to have a different understanding than you.
Specifically:
You are not entitled workers just because you started a business. Pay them well or don’t run a business
Yes, that’s what happens in a minimum wage environment, although not every single time like people have shown in these threads. But when somebody doesn’t start a business, that’s invisible.
What is visible is when an existing business’s costs rise above the minimum wage level. There are plenty of reasons why this could happen, 9/10 of them not being “the C-levels are paid too much”. That’s when they start firing people or just go under which essentially fires everyone.
Perhaps we want a society that don’t have employment for the people who can only work below a minimum wage level. That’s some sort of a decision, I just want to be honest about making that decision.
It doesn’t even happen a statistically significant number of times, you’re just parrotting what executives want you to believe, believing they know what’s best for you
Good for your family I guess. Now study cybernetics.
Is that why it seems you have negative wage?
Well there’s your problem: neoclassical / neoliberal / Chicago School economics, which has become hegemonic in universities around the capitalist world, is garbage.
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You clearly don’t have more than a basic education in economics if you’re peddling debunked bullshit.
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You clearly don’t have even a basic education in economics. There’s enough data across a variety of jurisdictions and history at this point to establish the effectiveness of the minimum wage.youre choosing to ignore that and simp for managers and capital owners.
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If they can’t pay the minimum wage they should not exist
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Other countries don’t exist, silly!