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Thread Tools |
11-07-2016, 01:56 PM
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#1 |
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Confirmed User
Industry Role:
Join Date: Mar 2002
Posts: 8,234
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Just in case any of you are voting Hillary for a higher minimum wage..
From:
https://fee.org/articles/the-eugenic...-minimum-wage/  Some very notable excerpts from this article:   So there you have it, the minimum wage was meant to keep minorities down, and boy did it ever. |
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11-07-2016, 11:51 PM
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#2 |
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Too old to care
Industry Role:
Join Date: Jun 2001
Location: On the sofa, watching TV or doing my jigsaws.
Posts: 52,943
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In 1912 it was a different world for jobs.
The minimum wage is irrelevant if there are no jobs to be had or 100s are competing for the same job paying minimum wage. This looks good.  Until you realise it's not you getting the benefits.  This makes you poorer than you think and your children will be even poorer.  |
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11-08-2016, 07:14 AM
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#3 |
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Confirmed User
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Join Date: Mar 2002
Posts: 8,234
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^- Economics is economics regardless of the time in history. Basic principles such as supply and demand and the effects of wage floors, all still apply regardless of the point in history that we're talking about.
If you're concerned about a lack of jobs as you seem, then one such way to create a ton more jobs is by getting rid of the minimum wage. It's one of the primary factors that leads to job loss. |
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11-08-2016, 07:33 AM
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#4 | |
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Too old to care
Industry Role:
Join Date: Jun 2001
Location: On the sofa, watching TV or doing my jigsaws.
Posts: 52,943
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Quote:
Today if the supply is filed by people in the Third World, what workers wages drives demand? Look at Third World millionaires and billionaires for the answer. |
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11-08-2016, 07:48 AM
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#5 |
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Too lazy to set a custom title
Industry Role:
Join Date: Jan 2001
Location: Sydney
Posts: 15,867
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Minimum wage here in Aus works out around 17 USD a hour, unemployment is around 6% ( keep in mind we have a full benefits system unemployed get like 200 a week min )
Most American fast food chains operate here, and given the number of stores they open, I'd believe they're all quiet profitable. |
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11-08-2016, 08:37 AM
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#6 |
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It's 42
Industry Role:
Join Date: Jun 2010
Location: Global
Posts: 18,083
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What does a Big Mac cost in the Australian market?
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11-08-2016, 08:44 AM
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#7 |
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Too lazy to set a custom title
Industry Role:
Join Date: Jan 2001
Location: Sydney
Posts: 15,867
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$3.50-$4.00 USD, 5 bucks aus
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11-08-2016, 08:46 AM
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#8 |
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Confirmed User
Industry Role:
Join Date: May 2002
Posts: 8,098
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no matter who wins get ready for some massive inflation
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11-08-2016, 08:49 AM
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#9 | |
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It's 42
Industry Role:
Join Date: Jun 2010
Location: Global
Posts: 18,083
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Quote:
interesting stats -- comments? |
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11-08-2016, 09:34 AM
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#10 | |
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Too lazy to set a custom title
Industry Role:
Join Date: Jan 2001
Location: Sydney
Posts: 15,867
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Quote:
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