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Post by RS Davis on Oct 19, 2003 0:26:32 GMT -5
- Rick
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Post by emilysrevolution on Oct 21, 2003 0:59:27 GMT -5
That all seems true to some degree. But isn't it sort of a far fetched discussion. I have always understood the raising of the minimum wage to be this delicate balance thing. No one is talking about raising it to 100 dollars an hour. You don't think there is ever a cause to raise the wage?
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Post by RS Davis on Oct 21, 2003 6:24:33 GMT -5
That all seems true to some degree. But isn't it sort of a far fetched discussion. I have always understood the raising of the minimum wage to be this delicate balance thing. No one is talking about raising it to 100 dollars an hour. You don't think there is ever a cause to raise the wage? I don't. There are certain economic facts that people miss. A big one is that wages are not an arbitrary number. They are set by the market. Certain skill sets bring certain wage prices, and when you set the minimum wage higher than that price, you make those people unemployable. - Rick |
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Post by J. Hill on Oct 22, 2003 7:11:02 GMT -5
I don't. There are certain economic facts that people miss. A big one is that wages are not an arbitrary number. They are set by the market. Certain skill sets bring certain wage prices, and when you set the minimum wage higher than that price, you make those people unemployable. - Rick The market isn't a market in the classic sense because workers have vastly less bargaining power than employers. They don't have complete information and can't afford to shop for better opportunites. Fair wage laws just help level the field. |
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Post by RS Davis on Oct 22, 2003 7:20:07 GMT -5
The market isn't a market in the classic sense because workers have vastly less bargaining power than employers. They don't have complete information and can't afford to shop for better opportunites. Fair wage laws just help level the field. Sure they can. People quit their jobs for new jobs every day, and every day, that sends a message to certain employers that they are either not paying enough, or are not providing a work environment in which they can prosper. If the businesses continue to do this, they will always have second class, transient workers, and their companies will suffer for it. Why do you think that most jobs - even fast food - pay above the minimum wage? They want a quality of worker that the bare minimum will not bring. - Rick |
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Post by emilysrevolution on Oct 25, 2003 2:09:49 GMT -5
I don't. There are certain economic facts that people miss. A big one is that wages are not an arbitrary number. They are set by the market. Certain skill sets bring certain wage prices, and when you set the minimum wage higher than that price, you make those people unemployable. - Rick No. They are just employed at the higher wage. Although, just because the minimum wage goes up doesn't mean that everyone's wages increase. Older employees will often still be maxed out and receive nothing. |
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Post by emilysrevolution on Oct 25, 2003 2:14:18 GMT -5
Sure they can. People quit their jobs for new jobs every day, and every day, that sends a message to certain employers that they are either not paying enough, or are not providing a work environment in which they can prosper. If the businesses continue to do this, they will always have second class, transient workers, and their companies will suffer for it. Why do you think that most jobs - even fast food - pay above the minimum wage? They want a quality of worker that the bare minimum will not bring. - Rick Yes, it is true that fast food pays higher than the minimum in many situations, but that is partly because so many people don't want to work in fast food. And people are not really changing jobs right now because there aren't jobs out there. It's an employers job market. They are getting the best for the least. |
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Post by RS Davis on Oct 25, 2003 6:14:40 GMT -5
No. They are just employed at the higher wage. Although, just because the minimum wage goes up doesn't mean that everyone's wages increase. Older employees will often still be maxed out and receive nothing. It is those at the margins who are hurt every time the minimum wage goes up. It's basic economics - supply and demand. When the price of something is artificially increased, less of it will be bought. Labor is not exempt from this law. - Rick |
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Post by RS Davis on Oct 25, 2003 6:19:32 GMT -5
Yes, it is true that fast food pays higher than the minimum in many situations, but that is partly because so many people don't want to work in fast food. And people are not really changing jobs right now because there aren't jobs out there. It's an employers job market. They are getting the best for the least. On the surface, that would appear to be true. But in economics, one cannot generalize like that. While there are many unemployed, there are still industries hurting for workers. To study this more effectively, you have to look industry to industry, or even company to company. For instance, raising the minimum wage doesn't affect lawyers at all, because they don't make anything close to minimum wage. Likewise, high unemployment doesn't change the fact that in baseball, there is a shortage of quality pitchers. A good pitcher in baseball still will recieve a higher wage because of the scarcity of his talent. This is not effected by unemployment. - Rick |
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