threadly reminder north nigerians are white
>>69723208
Minimum wage in Ireland is about €9.30
Our food is still cheap. Yes it would. More money spent means more money returned to the government and businesses which is good for all.
>>69723208
No. It would just increase inflation even more and make everything more expensive than it already is.
It works for a moment. But you always have to keep on raising and raising and raising it. We shouldn't have one at all. Instead I suggest homicide be legalized in regards to CEOs, they own a company, are therefore that company and can be legally killed at the drop of a hat by their employee if they are not paying market value. You shouldn't be hiring people willing to kill you, and you shouldn't be a boss that makes people want to kill you. This is a very easy fix. By becoming a CEO you forfeit your human rights.
>>69723381
When everyone has enough money to buy stuff, inflation goes down. Idiot.
>>69723208
The minimum wage needs to be lowered honestly. Right now it is way too high. Inflation has been nowhere near the level it would need to be to justify the current minimum.
>>69723208
This picture makes absolutely non fucking sense.
>>69723508
A FUCKING CARBOMB
>>69723754
You're pissed off because you ran out of cigarettes. Why would an industrialized nation still have so many smokers?
>>69723664
Lower minimum wage means less money to companies which means less profits which means inflation
>>69723914
cuz its kuwl to smoke get over it
I don't work in customer service or fast food.
That said, it could "work", but only in the sense that $15/hr minimum wage would exponentially increase the implementation of full automation.
There would be no more people working those jobs, which honestly sounds great for me, I hate having to do small talk with a 30 year old skillless drunkard every time I want to buy fast food.
>>69723664
If you can't live in a studio apartment without food stamps on minimum wage in every US state, the minimum wage is too low.
The fucking point of minimum wage was to have people be able to still support themselves off of it, while still being entry-level. If you can't support yourself, that shit needs to go up.
>>69723303
That image killed my boner
>>69724195
You hold yourself in such high regard compared to fast food workers, but don't mind lowering yourself to actually consume the fast food? Get some real standards, faggot.
Its like complaining about homeless people while sleeping on a park bench.
Meanwhile without raising the minimum wage.
>>69724196
This guy gets it. But fuck helping others right?
It's like you guys have never taken an economics course. Here's the problem: there IS an equilibrium wage that maximizes employment and company profits. However, this wage isn't enough for people to live on. It makes ECONOMIC sense to abolish the minimum wage and let the companies decide what to pay their employees. But it doesn't make MORAL sense to let millions low-wage workers suffer because of the market equilibrium.
>>69724537
Stupid fuck that's a stadium what do you expect
>>69723208
why are the employees white
>$12 for a fast food burger
I see the opponents of minimum wage have finally thrown out any pretense that they're interested in facts or reality.
>>69723208
yes
/thread
>>69724503
>fast food workers
Depends on the actual worker. Fast food/ customer service are jobs for teenagers. If you're older than 21, work in Fast Food/customer service, and are not in a managerial position, you are scum.
End inflation, Social Security, Medicare, Variable taxes, Immigration, the Media industry, the Entertainment industry, the Oil industry, The education system. Oh, and end Obamacare plz kthxbai.
>>69724537
"stadium", das Stadion. How much does stadium food cost in krautland?
>>69723373
>>69723373
Yeah sure it may work for you, but when Ireland gets flooded with 255 million people more, come back and see if your tune has changed.
>>69723373
cheap?
Fucking 17 euro for a "large" pizza in pizza hut, cheap my arse
I've been to the states and food is WAY cheaper
>>69723508
You're an idiot.
Fiat currency only gets its value from the available capital and service that it can buy.
When that service or capital starts drying out by inflated price for what it can buy it lowers the worth of all currency within the system. You need to increase the service or capital created by labor to make a currency worth its current value or increasing value, otherwise you aren't increasing the worth others can buy you're taking away worth others can have and depleting the ability of others to make a living wage.
>>69724537
A FUCKING STADIUM
They charge so much 1) its God dam tasty 2) its not like you can leave and come back
It can if the Fed can regulate the labor force and we start extracting resources.
The minimum wage is just a price floor. We know what happens when a price floor is above the natural price, so for the minimum wage to work, the natural wage must be higher.
The federal reserve issues visas to adjust labor pools. If immigrants overstay their visas or enter illegally, and then work in low paying jobs, it lowers the natural wage of those jobs.
The sectors that employ minimum wage workers are extraction, production, and distribution. Production can happen in any country with any minimum wage, and distribution relies on the residents buying disposable goods. So any problems with a local economy can't be fixed by distribution.
So extraction is the sector that can fix a recession and raise the natural wage.
If America regulated its boarders and extracted any available resources, then raising the minimum wage would work.
>>69723208
from my probably completely incorrect way of looking at things it seems as if it would help people because by increasing the amount that this lower class of worker gets you increase how much they buy and that gets money circulating through the system and that makes everyone happy
>>69724568
>>69723508
>>69723373
daily reminder the irish are fags
No but killing the moving out of the family home at age 18 would. Minimum wage shouldn't be livable because minimum wage workers shouldn't live on their own.
>>69724816
>Goldberg
>>69724196
May adults shouldn't be working minimum wage jobs. It's fine for teenagers. Which jobs are minimum wage?
>>69724196
This. The truth is that people will either support themselves with a job, or they will be supported by the government. If you are working and can't pay for basic shelter, food, etc, you need to be making more money or you're just going to make up the difference with welfare of various forms.
Would it work? Yes, it would. The people who are making minimum wage would have a certain increase in their quality of life, while those making more than minimum wage will have very slightly less spending power.
Also a meal at a fast food chain is already like $8-10, doubling the minimum wage and the food being like $3 more is pretty damn good.
>>69724729
>you are scum.
How the hell is anyone scum who works to make an honest living? You are the only scum here, faggot.
Of course not.
Remember the last 16 times we raised the minimum wage and how it destroyed the country, rending millions unemployed and causing decade long depressions?
I sure do.
>>69724773
Retarded statement is retarded. Try all of Europe by EU standard.
>>69725103
>minimum wage jobs are for tennagers
look at the baby boomer over here
>>69724787
Why the fuck buy pizza at pizza hut? €16 for two 16 inch pizzas, chips and garlic bread and drinks at majority smaller places fucktards.
>>69725238
>it was real in my mind
>>69725190
>honest living?
15/hr for something that requires no skill is not exactly "honest", especially when their means of getting to the 15/hr mark is by forcing the law to cater to the most useless minority in society, the middleaged who are unskilled.
>>69725366
I dunno, I'm pretty sure there was massive hyperinflation and every fast food company in the country had to close down.
I mean, of course it happened, people in these threads wouldn't lie about it happening if we raised minimum wage again right?
>>69723208
If raising the minimum wage were a good thing, companies would do it themselves without government interference and do it quite publicly.
>>69725417
If you can't operate a business paying your employees a decent wage then that business has no right to exist, nor does it have the right to operate in this country. They can take their shitty business model and fuck off to somewhere else.
>>69724816
>I can't believe he wants to stop illegal immigration WE WUZ IMMIGRANTS
Cost of a kfc meal in Straya...
>>69723208
Minimum wage is retarded. Unions are the way to go.
>>69724816
>Goldberg
EVERY FUCKING TIME
>>69725521
>They can take their shitty business model and fuck off to somewhere else.
Isn't that how this problem got created in the first place, you know, all the people moving the work somewhere else? The unskilled people don't seem to realize that you can only bite the hand that feeds so many times before it just throws you out in the cold and stops feeding you.
>>69725521
>min wage employment has no barriers to entry
>expect to be able to live off a 40 hour work week
>>69725513
Not good for the economy good for people
>>69725500
>people in these threads wouldn't lie about it happening
certainly not
its not like there's a narrative to fill by doing so
>>69725500
>>69725727
The hand that feeds them is the American population, which pays their wages through the business they give to the companies they work for.
Take your cuckold "muh job creators" bullshit somewhere else.
>>69723930
What?
Companies have barely any control of inflation, if companies go bankrupt and lose profit, they just shutdown. Companies got almost nothing to affect the inflation
>>69725521
>if you can't operate a business paying your employees this arbitrary amount of money that we decided to raise minimum wage to then that business has no right to exist
>>69725025
>O'Goldberg
If you still eat fast food you are a degenerate idiot who shouldn't be trusted with the livelihood of American workers. These people are fighting for a pay raise, and organising for their own benefit, I think that is honorable.
>>69725855
>"muh job creators" bullshit somewhere else.
So basically, even though people are saying "How can I work anywhere BUT fastfood, it's the only jobs left!" at the same time, they think "Fuck the job creators, I don't need no jobs!".
Weird. Anyway, as I stated, I don't work in fastfood or customer service, I don't mind them enjoying $15/hr for 6 months before full automation gets them all fired, I've got no dog in this fight.
>>69725919
Yeah that's basically how all laws work.
>If you don't follow this arbitrary rule we have the right to punish you
Get out if you don't like it.
>>69724606
How about look at it on the macro scale and not micro and realize that taxing people who work minimum wage is fucking retarded because it's in a sense a regressive tax because they still need to have insurance and things to live at the same rate as rich people, and especially the fact that the government basically gets no money from taxing the poor.
>>69724816
Irish people overstay their visas in a lot of different countries, Trump's hard stance on immigration doesn't go down well over here.
>>69726116
Let me put it this way then
>if you can't operate a business paying your employees $1,000,000 per hour then that business has no right to exist
>>69725513
Its not what's good for them that even matters, we are talking about American workers, not corporate stock you fucking lunatic idiot
>>69726242
>muh 6 gorillion
>>69726080
>"Fuck the job creators, I don't need no jobs!"
Nice strawman. I'm not saying we don't need jobs. I'm saying that jobs are not supplied by the good will of businessmen out of the kindness of their hearts. Jobs are supplied by the fact that more labor is needed to meet demand, which means that THE PEOPLE make those jobs by spending their money.
I'm sick of this country bending over and taking corporate dick up its ass. Your so-called "job creators" aren't shit without the business that the American people supply to their operation. They can follow our norms or fuck off to somewhere else so some other guy with a better business model can take their place.
>>69726242
Rephrase it this way:
>if a government raises the minimum wage so much that the economy collapses, then that government has no right to exist
>>69725521
Why am I hearing this fucking retarded argument being copy/pasted everywhere?
Do these people not have a concept of supply/demand and job market?
How far are we going to go in technology when it would stop being viable to do anything other than keep working at McDonalds until retirement (Considering their economy model that excludes inflation would happen)?
>>69726392
I've got a good business model.
A factory that creates the robots that will replace fastfood workers.
Business is about to be boomin'.
Yes. Please raise the minimum wage! I am ready for robots to take care of ordering instead of some idiot cashier who can't even get my order right.
>>69723208
Yes.
>>69726609
one step closer to UBI
>>69726426
I always find it hilarious when people blame the business for not being able to handle the government fucking around with the market
>>69726426
>Do these people not have a concept of supply/demand and job market?
Actually, we do have an understanding of supply and demand. That's why we insist that we start focusing more on increasing demand to justify more supply. You conservative fools have it backwards - Demand is the engine of our economy, not vice versa.
Frankly, the people who are loudest about "muh supply and demand" generally are the ones who have no background in economics. Tell me, what is your background in economics?
>>69726555
That remains to be seen. Go ahead and make your factory. We'll see how many Americans are willing to give your clients their money.
>>69725521
>If you can't operate a business paying your employees a decent wage then that business has no right to exist
Hundreds of skilled labor jobs function on this exact premise. You don't get paid because the organization- often a union- is spending time and money training you to be a fully fledged something- electrician, refrigeration specialist, etc- and the difference gets taken out of your pay check. Hundreds and thousands of skilled labor jobs- plumbers, machinists, electricians, etc- would become unfillable if you demanded livable wages for all workers.
Not every job can or should pay a 'decent' wage. Least of all when the job consists of doing something that either anyone could do, or a robot could do.
>>69726609
>/Pol/tards are to fucking stupid to realize that this is going to happen anyway.
Color me surprised
>>69724606
Isn't this more evidence that inflation has fucked our currency and being a service economy makes us weak?
>>69726694
We already have UBI.
I'm in favor of UBI just because wiping out a bunch of unrelated government aid programs and unifying it into a single organization would streamline things a bit tho.
>>69726042
>>69726755
>Demand supplies Supply
>>69724790
Hoarding money and not doing jack shit with it for decades does not available capital make.
>>69726609
This.
It is retarded that we continue employing people for jobs that robots can do and do better.
>but the purpose of jobs is to occupy peoples times not actually accomplish the job itself!!!
Nope.
Anyone who is against automation is a retarded faggot and is almost as bad as Muslims.
>>69726980
no we don't
>>69726609
The USPS workers make like 16.25/hr
In my local USPS they have a machine you can print labels for packages and buy stamps, it can do p much anything with it. Not to mention you can print your own labels among other things online from the comfort of your own home, but theres still cashiers that work there.
The only thing you can't do with the machine is pick up a missed package and the international shipping because you have to do the custom form.
It's crazy that they havent expanded on this since their workers make much over min wage but could easily be outsourced to the computers.
Minimum wage should depend on what the wages of your neighbors are.
Scandinavia can get away with a higher minimum wage than, say Turkey for example.
>>69723208
It's been raised before to little effect; plainly, since the price of goods & services rise regardless of what anyone does, the minimum wage should rise with them. The alternative is a weakened productive class, who provides the same labor for increased profit (as his goods & services are worth more) for a stagnated wage.
This shit is grade-school-comprehension shit, yet so few actually get it.
>>69723208
"raisign"?
>>69727221
Doesn't Denmark set their minimum wage through agreements between unions and businesses?
>>69723208
>A burger costing under $12
>Fast food workers getting <$15
>Shanty houses costing <$1million
>>69727381
unions are basically outlawed in the US
>>69726822
So you want to help people by getting them higher wages, but are going to concede that what you're pushing for is likely going to make them LOSE that job.
right.
>>69726864
This is true, but that has more to do with the fact that the economic niche the US enjoyed in the post WW2 era is simply gone. Unless it's some high end, precision manufacturing- jet engines, aircraft, processors, etc- you can find the same product made more cheaply from numerous other sources.
>>69724537
I bet you freak when you go to the club and they say $8 for a shot, or $7 for a mini can of beer
>>69724196
A studio apartment where? You want to live in NYC flipping burgers? Maybe move somewhere cheaper. Burger flipping was never meant to be a full time career. If people can't be bothered to kearn employable skills because of "muh circumstances" then fuck em. Hownis this even a debate?
No.
>>69723208
Raising the minimum wage does not work. You have to confront the problem of why wages for low-skill jobs are not competitive. For manufacturing, the problem is with cheap overseas production, and the only solution is to lower corporate taxes for companies within the company, but raise tariffs on foreign companies or multinationals.
Everybody's so afraid of protectionism, but it's the only way to secure livable wages for low-skill workers in a first world country.
Burger flippers can go fuck themselves though.
What happens to the people who are already making 15 dollars an hour?
why would i work in a dangerous and backbreaking battery warehouse when i could make the same flipping burgers?
>>69727037
I see. It's easy to parrot right-wing talking points, but not so easy to actually discuss economics with someone who is willing to challenge your position. Piss off, kiddo. Adults are talking.
>>69727352
Yeah like a raisign in the sun
>>69727718
the real question is why did you settle for 15 if its so dangerous and backbreaking
remember, just because someone makes more doesn't mean you suddenly make less
>>69727683
The solution is for all the top-floor fucks to make a few million less a year so that money can trickle down instead, you asshole.
>>69727577
So who will clean, serve food, administrate buildings in NYC if only rich people will be allowed to live there?
>>69727718
>why would i work in a dangerous and backbreaking battery warehouse when i could make the same flipping burgers?
Nobody's forcing you to. You're welcome to quit your job and try your hand as a fast food worker. You won't, though, because fast food work is not prestigious. It is looked down upon. So, you won't do that. You'll stay right the fuck where you are.
You may be able to fool others, but you can't fool me, leaf.
>>69726194
>>69726864
Look, on a macro scale, you'd have to account for sticky wages. That makes it nearly impossible to predict the out come of a new minimum wage within a new tax bracket. The micro model does not account for inflation, but considering that there are more variables one would have to account for in the macro model, I'd say its a far better model of what our economy could experience, at least within the labor market.
In short, each model macro or micro needs to be taken into account before someone makes a case for or against minimum wage.
>>69724787
The food is also often really bad quality, it's better in the countryside but the city food is shit...
>>69726609
I can count the amount of times I had a wrong order in a fast food place on one hand. If you're constantly having issues with your orders being wrong then perhaps the problem is you.
>>69727718
Because the warehouse has hazard pay and benefits.
Try getting medical, vision, dental, and a 401k at burger king.
>>69727718
Yeah would someone mind explaining this? So we raise our wage floor, but what becomes of the wages that are now the floor that weren't before?
I only took macro in undergrad so I literally have a high school education in economics so someone pls explain.
>>69727740
Your talking points are far too retarded to even discuss.
Don't try to sound smart boyo, you just posted a statement I never thought someone who could use the internet actually say.
The only logical way you posted that (On the internet(On a computer)) is that you're trolling.
If it's not then, in the words of (((Bernie Sanders))): "The education system has failed you."
>>69727946
>>69728018
It was just an example. i was more talking about the price floor on wage and what happens to the wage of jobs above that floor
>>69727381
Economic forces will shape the wages, regardless method used to reach it.
Setting a legal minimum wage of 10 in america, and 5 in Mexico, results in an effective minimum wage of 7 for illegal immigrants right now.
Black market labor, or outsourcing will try to move around whatever economic barriers you put up.
Now it's much more expensive for a company to outsource from Oslo, to a place half it's minimum wage, and similarly more difficult for black market labor to migrate to oslo, as compared to San Diego and Tiajuana.
>>69727914
>The solution is for all the top-floor fucks to make a few million less a year so that money can trickle down instead, you asshole.
There should be maximum income and maximum wealth law, so that people don't concentrate too much.
>>69727718
You'd end up getting paid more at your job; with a flat-rate $15 wage, your rationale is immediately applicable toward your employer as bargaining power and you'd be fairly well expected to ask for more.
>$15 min. wage
>herr derr $12 fast food burgers
good let fast food places fail and shut down. Their crappy food is terrible for people and drives healthcare costs up since obese poors eat that shit every day then everyone has to pay for their beetus treatments.
>>69728371
I see
thank you
>>69728187
Tell me about your background in economics then, mr. know-it-all. Where did you get your degree from? What do you do for work?
You won't answer either of those questions because you have no degree, and your work has nothing to do with economics. You're just a selfish right-wing kiddo who needs someone to look down upon, so you choose to pick on people who can't defend themselves.
Well, I've got news for you, buddy. I will stick up for them. If you think you're going to get away with spitting out right-wing talking points without having a clue what they mean, then you've got another thing coming.
>>69727683
Drilling for oil or other resources also works. If the demand for a Burger King only comes form its employees, and that Burger King closes down in a local recession, then there's no more employees and no demand for a new restaurant. However, if we were talking about a manufacturing plant or a mine, as long as there's national (or international) demand, then a new company can open a new facility and employ workers.
>>69723208
poor people shouldn't be paid wages at all.
>>69724537
>Being this butt blasted because he can't have a delicious 13 pork sandwich on his side of the ocean
>Never forgetti the 60 tortillion
>pay your fair share of syrians you war criminal
>>69728227
I'm with the leaf on this one.
So, if I'm business owner A and I employ worker B at 7.50 and worker C at 15. I have determined worker B's output to be 4 and worker C's output to be 8 so I pay them accordingly. What happens when I'm forced to increase worker B's wage to 15?
Do I increase worker C's wage to 30 because that's the value of output 8 now?
Do I keep worker C at their current wage and expect some sort of production regression to the mean?
Does worker C fuck off if I don't increase wages?
I voluntarily do not understand economics so if someone could pls explain that would be great.
>>69727935
Machines.
there's a lot of breathing room in profit rates for wage increases in many industries
i've made the company i work for around $11,000 in a single shift. they spend around $330 on labor during that shift. there are of course other costs to production other than labor, and you can imagine the rate of return and costs of labor relative to other costs of production varies from industry to industry (but probably doesn't vary much from competitor to competitor within an industry)
it's true that when able, firms will innovate to reduce the costs of production, ie, make it possible for one worker to have the same output of three workers could lead to large boosts in profitability, but the truth is is that this incentive always exists in every business, whether or not the minimum wage is increased. an increase in minimum wage may increase the pressure to innovate, but the pressure to innovate is always constant because firms are in a competition. if a firm fails because it can't innovate, it's competitors will capture its business. which is why a burger king will either find a way to sell the cheapest food it can while paying however many workers it employs at 15 an hour, or fail, and other fast food joints will capture the business it once did.
the economy is in motion, the competition between firms is endless, the struggle between capital and labor will never result in lasting victory
wage increases are fine
Germany has minimum wage for 1,5 years now. Before they introduced it, some people said it will cost hundred thousands of jobs and also muh inflation. Now we have more jobs than ever and deflation. I only laugh when reading the retards in threads like this one.
>>69728857
Worker C might fuck off if your competitors are willing to offer him a higher wage. But that's a gamble you take anyways.
>>69727935
Honestly I am confused why people who do that still live in NYC. Literally fucked all the way down.
It depends what you define as "work." Studies show that raising the minimum wage has almost no negative effects on employment. However, the additional costs are passed off to consumers in the form of higher prices. In places like New York City, where you have a large upper-middle/affluent class and a large service industry, it essentially works to redistribute wealth without additional government intervention. Its arguably more "free market" than the paycheck subsidies the Republican party advocates.
>>69728885
We don't have your work ethic and we have a much larger proportion of the population that embraces being a government parasite.
Or at least, we used to...
>>69728490
My background in economics: I have read Henry Hazlitt and Thomas Sowell.
Now tell me how my arguments are delegitimized because I don't have a document saying an institution WITNESSED me study economics?
Sounds to me like your against democracy because obviously you think if people don't have this document they should talk about it, therefore vote for it, therefore want government in the hands of a rich elite.
>>69724816
There is not any right wing journalist left in europe, everything is so obvious kool aid that even the average leftist bitch about the ultrasubjective twisted fact reports in press.
>>69725686
Fuck off commie faggot. If you live in ND meet me at the border and I'll show you a 9 inch private sector cock
>>69729051
>Henry Hazlitt and Thomas Sowell.
So your understanding of economics is limited to the perspectives offered by two people, both of which are biased toward a specific ideology. If you want to be able to speak authoritatively, then you really should expand your horizons and listen to the other side as well.
>>69728963
But then doesn't that encourage me to resort to foreign labor? Like, worker C fucked off to make 30 and produce 8 at another company, but if I can find someone from another country to produce 8 for 15 wouldn't I do that? And if I did, wouldn't I then tell worker B to fuck off and I'll find ANOTHER worker to make 8 for 15?
>>69729051
>I have read Henry Hazlitt and Thomas Sowell.
>thinks he understands economics
oh boy
>>69727935
Are you retarded? Custodial staff make way more than min wage. And what building admin makes min wage? Are you talking about parking valet? Yeah any bs job like that with minimal skill requiremrnts should either be done by teens or part timers who commute from cheaper areas. Poor people insisting on spending a lifetime renting a shitty apartment in nyc rather than moving somewhere cheaper and getting a mortgage deserve to be poor. Dumbasses shouldn't even be handling money. Especially the ones with kids holding them back. Just put the fuckers up for adoption, you clearly aren't capable of taking care of them. Most poor people are choosing to be poor because they refuse to change a very simple aspect of their lives.
>move somewhere cheap
>get training for any kind of basic job (bus driver, janitor, office assistant)
>save 15%-20% of every paycheque
>get mortgage, stop paying rent
Wewlads the cycle of poverty sure is difficult to escape.
>>69729306
You would be limited by immigration rules, plus the public relations fallout as a result of your decision to spurn American workers, but other than that it's your choice.
>>69723208
>that image
It's retarded. Raising wages would result in either inflation or unemployment, not both. They're inverses of each other. This is called the Phillips curve
>>69728306
Nigga you just went full communism get out.
>>/tumblr/ is down the hall
>>69729371
>Reading books and articles by well known and accredited economists
>Makes no attempt to refute any of their works
haha I kno rite?
>>69729503
>Raising the minimum wage would result in unemployment.
Absolute nonsense. Maybe in microeconomic theory, but the real world shows that this is almost never the case.
http://www.irle.berkeley.edu/events/spring07/pedace/pedace.pdf
>>69724816
>O'Goldberg
They're using camoflauge.
>>69729024
I'm a democratic rapist. If me and 3 friends find a girl, that's 80% of us for it. Changing the means doesn't make socialism ok
>>69729732
Sowell in particular is pretty much a meme. He's like the Neil Degrasse Tyson of right-wing economics.
>>69728857
Assuming that the minimum wage was raised to match inflation, then worker B was as productive as someone making 3.25 right before the minimum wage was raised from 3.25 to 7.50. Worker C was as productive as someone making 7.50 when the minimum wage was 3.25. You give worker C a raise to match inflation or the worker will leave.
However, if the minimum wage is rising faster than inflation, then your best bet is to fire worker B. If you have a choice between making a decent profit with many low wage workers, or to make a slightly smaller profit with fewer highly paid workers, then only the second option is legal.
raising from 7.25 to $15/hr would be a 103% wage increase.
If that would help me to go to my boss and negotiate even a 52% wage increase I would be a happy happy man.
>>69729849
I have yet to read a reason why.
>>69729759
You missed the point of my post so hard.
>>69728306
Instead of this, I propose a min/max wage relationship to the highest and lowest earners at any given corporation to be codified into law, for the purposes of discussion we'll say 30x.
That is, if CEO Israel Goldsteinberg at MegaFux Bank makes $450 an hour, then starting janitor Joe Snuffy must make at least $15/hr; since this aims at capping wages, Joe will still make at least minimum wage even if Goldsteinberg's salary lowers to $200/hr; the point behind this principle will instead be to ensure a more-equal distribution of wages and curtail irrational disproportion - every time Goldsteinberg wants a wage increase, Snuffy's gonna get one as well, and the corresponding bargaining power will go up the chain (i.e. "I see the janitor makes $16.20 an hour now; why do I only make $2 more than him? Is this my cap? Because I could be making $22 in three years for the same work three buildings down" and apply that to a shitload of positions in the company).
>>69729732
>>69729732
>Henry Hazlitt
>well known and accredited
Austrian economics is a radical, fringe school of thought that is dismissed by most economists. Sowell is smart but also extremely radical. I think most of their arguments are pretty refutable. You should look into Keynes or Friedman.
>>69730176
You seriously think the billionaire CEOs made their fortune off of their salary? This is why discussing economics with poor people and leftists is a waste of time. They don't know anything about how the world actually works.
>>69730179
>Friedman
>Not a meme
WOOOOOOOOOOOOOO
>>69730273
Salary is unfortunately the easiest way to 'tie' wages; what bonuses he receives and what he earns from investments are his business. But CEOs *do* tend to make hilariously disproportionate salary earnings; it should be feasible to implement this wage relationship to positive effect.
Nice try at dismissal tho
>>69730016
Probably because he advocates laissez-faire capitalism, often equates correlation with causation, denies mainstream interpretations of economic history, and has an intense confirmation bias.
>>69730546
Ok dude. Take the $20 million that the Walmart CEO makes a year and give a $10 bonus to all the employees at the end of the year! There! Poverty solved.
>>69730766
You have not yet comprehended this:
>>69730176
Re-read it 10,000 times or until you do.
>>69730695
Aside from certain elements in Laissez-Faire Capitalism I agree with it somewhat.
It seems like most people who have a huge problem with it really want to defend minimum wage thinking it defends the low skilled worker.
As for the other complaints I'm going to need specific examples to know if it's true or not.
>>69727997
>I can count the amount of times I had a wrong order in a fast food place on one hand
said no american ever
>>69731168
Maybe he just hasn't had kids yet. Kids always need special orders.
>>69730176
This would be a good idea if you could ever govern "compensation" instead of just wages so that the CEO couldn't just load up on company shares and bonuses, set a salary of $0.30 then say "ENJOY YR PENNY, FAGETS" to the janitors.
>>69723208
Its bullshit. Really, here in Australia having a minimum wage has enabled people who work to afford to save, pay their bills and buy luxuries like takeaway whenever they please. Minimum wage literally means that, it gives the earner the bare minimum capital each month to survive without wanting to string themselves up.
>>69730072
That keynesianism is retarded?
>>69723208
No. Minimum wages are an abomination. We need to stop these handouts to the inferiors.
>>69731012
That still doesn't explain how you are going to actually pay Tyrone who is working at the cash register his new "fair" salary. Walmart cannot magically print money.
>>69724804
>I can't wait a few hours to eat again
holy shit you're embarrassing us, fucko
>>69730546
Yes because "i'm poor so my boss should be poor" is a valid line of thinking. Salaries don't mean shit to anyone actually running a bussiness. It's just an arbetrary number you give to your accountant that has nothing to do with what you actually made from your bussiness.
Your salery isn't tied to how well my company does. You get a fixed income regardless. That's the whole fucking point of unions. If you want to get paid more when i'm making bank then you should also be willing to get paid less when i'm not. But people don't want that, so you traded proportional wages for security. Take on some of the risk or be a wage slave, you can't have both.
>>69729048
>euro
>deflation
I'm going to quote Carl here, are you fucking kidding me?!
>>69731768
That shit's too unsettling yo
>>69727082
There is no hoarding, what do you think the rich just put their wealth into a vault and swim in it? Wealth cannot maintain worth without investment because of inflation.
Anyone who has any money that affects the economy in any large way has their savings stored in bonds, investments, stocks, NEVER just sitting in large numbers not doing anything.
If anyone does just have it liquidated into an account then its bound not to last its worth, or be in a form that would affect the macro economy at large. Only an idiot would keep their savings in a form that doesn't create more wealth, why work when your money can work for you?
>>69731099
Examples:
>often equates correlation with causation
For example, he frequently points to data showing that black youth unemployment has risen since the 70's, and then blames minimum wage for this. In reality, there is no data showing that minimum wage laws have a considerable impact on unemployment, especially that of black youth. He neglects any other factors that might be causing this number to rise (i.e. mass incarceration, the war on drugs).
>denies mainstream interpretations of economic history
He fervently denies the benevolent economic impact of New Deal policies and WWII. He claims that the large scale tax cuts implemented by Andrew Mellon, JFK, and Reagan increased revenues, even though data shows deficits skyrocketing when those cuts were implemented.
>and has an intense confirmation bias
See above. He has an ideology and forces existing data to fit its mold.
I think Sowell is intelligent and is a great critic of left-wing economic policy, but his ideology is questionable.
>>69723373
Why do people think this is how the economy works? It makes literally zero mathematical sense - all you're doing is increasing the amount of money exchanged. It only increases "money supply" without making the real economy any better.
>>69732336
That's not how the money supply works. The additional money that is paid to minimum-wage workers comes from cuts to other expenditures (i.e. salaries of higher paid workers, non-salary benefits) or increases in prices. It isn't coming from bonds or other similar assets, it has nothing to do with the money supply lol.
>>69729468
>Implying that this simplified theoretical scenario can be applied to real life.
Damn, anon. Which issue are you going to focus your mighty intellect on solving next? Gun control? Islamic radicalism? Faggotry on /pol/?
Please hurry, anon. The fate of the world is in your hands!
If you're McDonald's and you go from having to pay 9/hr to 15/hr, the number of employees you can keep drops significantly.
Rather than have a cashier you can just replace them with a touch screen self checkout station at a one time cost. This groundwork is already in place at McDonald's.
Great, one person might be able to make a living wage at the expense of one person making any wage at all. And this is just in the instance of big business.
In small businesses that barely get by hiring teenagers that need job experience, everyone is going to be out of a job when they have to close from not being able to meet wages.
Unemployment skyrockets. That's a fact.
>>69723208
In 1930, the unemployment rate of blacks was LOWER than that of whites and lower than the national average, mostly because they were willing to work for less than whites.
When Frankie Boy came into power a few years later, he put in minimum wage at the request of whites because they were tired of blacks taking their jobs by underbidding them. MINIMUM WAGE IS RACIST. And Franklin Delano Roosevelt was a cross-burning cracker, bigot to the core, and the world became a better place when that bastard died.
minimum wage in my industry is 23 AUD (17 USD).
I serve alcohol (hence the wage) and I also get tipped.
