Quote:
Originally Posted by woj
That's ridiculous, there is ALWAYS stuff to do... companies don't hire because benefit from hiring is lower than the cost... lower the cost and the benefit vs cost equation shifts in favor of hiring more people... 
Take fast food industry for example... most fast food places are not open 24/7... and that's because lets say they earn $200/night, but have to pay $250 in labor costs... so it makes no sense to keep McDonalds open at night.... lower the cost of labor to $150 and suddenly, there is room to hire some night shift workers... |
Ok so if they lower the wages by 40% then they'll hire workers. Workers who don't exist because no one will work for 40% less than the curent minimun wage. I wouldn't.
ther's this myth that if business could lower wages then they'll hire more workers. I think thay would take that savings and put it in their pockets and we would still have an unemployment problem. Also even if they did feel like hiring more workers there is the myth that they are millions of Americans willing to work for $4 an hour like it was 1988. The only workers willing to work for $4 an hour speak spanish and no one wants them here.