Oddbean new post about login | logout So California not only mandated a $20-an-hour minimum wage for fast food workers but also a $25-an-hour minimum wage for healthcare workers. It used to be there was one minimum wage across the board. Now even janitors at healthcare facilities will earn more than janitors at fast food restaurants. Now healthcare costs will be driven higher, in addition to the already rising costs of eating out. 🙃 Will people ever learn to stop letting government interfere with the marketplace? #inequality https://archive.is/Le45X
But if Gov. would not interfere in the first place the wages would be bellow 2 digits 🤷♀️ There's always someone who pulls the shortest srraw
Wages below 2 digits allow companies to hire people whose work isn't worth more than that, often teenagers or other unskilled laborers. A minimum wage actually just prices these people out of a job because companies can't afford to pay them that much. The well-meaning but economically foolish libtards end up hurting more people than they help...
Exactly. It prices out the young people who need their first job to prove themselves. Those people can't ever get their first job and therefore can't ever become productive members of society. It hurts those they claim to help the most.
Businesses where the social cohesion is less will have a hard time since the employees will demand minimum wage. Whereas businesses where the social cohesion is high (I.e. a whole family operates the business) won't be affected that much. I think this is not a intended consequence, but not a bad thing either. The free floating atomised individual will have to pay a high price, where the well connected guy embedded in a extended family won't be affected that much.