Quote:
Originally Posted by blackmonsters
Yeah, everybody is stupid to look at the employment market and make sure it never becomes de facto slavery.
Everybody should be free to work for $1 a day; that way a lot of people will be hired and
then companies can become very profitable by colluding to fix the wage at $1/day at every
firm and therefore forcing everyone into this fantastic profit scheme.
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No offense, but this is complete nonsense. If the only thing keeping employers from paying $1 per hour is the minimum wage, then ALL wages would be the minimum wage. Instead it is about 5% of the population. If the only reason why employers are paying above $1 per hour is the minimum wage, then why wouldn't they only be paying that to the other 95% of people?
The fact is that there is for the most part a free market of value vrs pay. The reason why 95% of people get paid more than minimum wage is that the value that they bring to an employer is worth more, and therefore employers will compete in order to have these workers. If you raise the minimum wage to levels where the value of the work done is not equal to the pay, then you basically trap more and more people at the bottom. People will not be able to jump up from their starting salaries, and there will be no "starter jobs" for young people to get experience working and move up. (Look at the unemployment among people under 25 in the EU)
(This will of course make more and more people dependent on government, which fits right in with the plans of the people that will stay in power by having all these dependent people voting for them....)
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