Let's start with the media I don't mean true media I am talking mainstream, we all know the new's is only as good as it's viewers. This mean's that they want to appeal to your opinion (Tell you what you want to hear) So of course they are gonna wanna make the case that the minimum wage "Help's the poor" or "Worker's Right's" This generate's nicely with the youth and the elderly (At least with my experience with an old man at work) If we want to look deeper we can question why is economics not being taught at the same level's as English, I feel like they look at economic's like it's just some thing government handles. Now what are some of the effect's of a minimum wage? Well the common sense things like how it decreases the amount of job's below the cutoff and increases job's above. Anytime you put restriction on someone's ability to trade with another person, this will obviously help some group's of people at the expense of other's. The market will work even through statist regulation's (restriction's) on trade. I really got a co-worker pissed about this I was like "If I want to work for a lower wage then you because I can't get a job for more, then I should be able to" He said "That's Life" This makes me so mad, its like well that's life. We must also look at the morality of the minimum wage, if you want people to have a living wage and you start a business and do it then that is great and moral!! Now if you elect a politician to create a law that say's "No one can accept or offer a wage below x" This mean's if I need a job, but all I can get is just below the "minimum wage" then I can not accept or I will be out of a job and the other party of the contract would be sued. This is immoral as you should never threaten someone with violence if they don't do something you want them to. GUYS I ALMOST FORGOT the yield curve.....well there is no curve its FLAT the last two times the economy crashed it was after the yield flattened and then inverted so let's just watch this stuff. Thank's for reading guy's, please upvote, follow, and check out the next post.
Curated for #informationwar (by @openparadigm)
Relevance: Minimum Wage Myths Exposed
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I do not understand very well what is the real problem of the minimum salary, I feel it is something necessary, because it allows that nobody works for less than what it needs for live, it eliminates in some way that you work hard for a misery. If there was no statutory minimum wage, many companies and bosses would pay misery for the hard work of an employee. I hope you clarify me in a better way what is really the problem. Thanks for your post.
Well just because you have a minimum wage it does not mean everyone will get that wage, it just means that whoever is able to get a job will make at least that wage. Now as for paying workers the minimum of course! But it is not the minimum they want to pay it is the minimum they are able to pay. If someone is paying people 6 dollar's an hour, but I need employee's at my business I may have to offer 7 and its that type of competition that would determine wages. Most wages also pay over the minimum maybe not by much, but this is also because of the burden government put's on society. Taxes, regulation's, license's, these things cost money. Oh! A little history the minimum wage was started because there was black railroad worker's who would work very cheap (because they had to compete for the job) Well the white railroad worker's did not like the competition as they would not work for so little of a wage so they passed a minimum wage that would put the lower skilled workers out of a job (race could have been the issue as well) So this is essentially why union workers advocate for a 15 dollar minimum wage, because it will secure there job's from people willing to work for less. I hope this was helpful! Also though it is immoral to threaten people to not hire people who need a job and will work for less to get the job.