LOL ether you've to really REALLY good in your profession and very specialised to earn a good amount for living or the worker with most knowledge for the most minimum wage will get the work (the more general job types).
And seems like you're from the United States of Hyporisy ... well maybe you should run out of biz to see how it is to be homeless and where no state gives you at least a flat and some money, so you don't starve to death.
Quote:
Originally Posted by notinmybackyard
No minimum way and no welfare for anyone.
When everyone competes the best workers earn the most money.
Kill the Welfare state and the immigrants stop coming and the lazy bums will work or die.
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Ah, another Ami :P
1: More money means, as already mentioned, more to spend. Less money less to spend... businesses can't survive without people spending money, very simple.
2: If a robot or a machine can do your job, you are doing a simple dumb job, because you're dumb and have no skill.
3: The need to go to college is how good the general education is.
Besides: If everyone have the most highest degree, the degree is literally useless. Because you still need grunt workers and CEO's can simply hire the bachelor/master/engineer who'll do the job or the most minimal money.
4: Who says that with low wages prices, exception basic food and needs maybe, will be low, too? Basically everything becomes luxury.
5: Global players already make life hard for small brick and mortar stores. F. ex.: Amazon for B2C retail.
Quote:
Originally Posted by TrafficTitan
High minimum wage is favored by those with a poor understanding of economics (aka most people).
Bad side effects:
> increased unemployment
> robots cheaper than people taking your job
> creates disincentives to goto college or get more education
> high prices
> some businesses become economically inviable - more unemployment
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