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Minimum Wage

seraine
Posts: 734
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8/10/2011 10:12:52 PM
Posted: 5 years ago
I am wondering whether I should debate thett on drug legalization or the minimum wage. I already know most arguments on drug legalization, but am not well versed on the minimum wage. Can anyone give the basic pro and con views (btw, I'm con)? It would be great if someone could get a debate going on the forums.

I think that the minimum wage puts people out of work and is unnecessary, as the free market can emulate it's pros without all of it's cons.
Lasagna
Posts: 2,440
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8/10/2011 10:28:14 PM
Posted: 5 years ago
Well the upside to MW is that, in theory, if you set it high enough then you eliminate the poor, because they have to be making at least X$. In practice, however, X is always well below the poverty line anyway, so it probably doesn't make a difference. If I'm not mistaken, Bush 43's election prompted a Dem uprising in the mid-term election, and they passed some pretty stark MW legislation. You might use that as a starting point to collect data to see if it worked.

The main downside to MW is that menial jobs are now not as easy to supply by businesses. The thought is that if MW is eliminated, they could loosten their belts and hire people with less risk, which would in turn lower unemployment. After all, what good is MW if people cannot be hired into it. The flipside to this is that we are almost guaranteeing poor people now, because anyone making < MW will be making peanuts.

Setting a MW gets government involved in business, which is considered a negative in itself by default.
Rob
quarterexchange
Posts: 1,549
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8/10/2011 10:37:35 PM
Posted: 5 years ago
There aren't really any Pros to the minimum wage law. It essentially bans anyone whose labor is worth less than the minimum wage rate from working since businesses can't afford to engage in "charity" and hire someone for more than their labor is worth.

This essentially causes a significant amount of unemployment (especially among teens, who definately need such jobs to learn work ethics and develop their abilities and skills) and keeps many businesses that may need to rely on such menial tasks that don't justify minimum wage pay, needlessly undermanned.
I don't discriminate....I hate everybody.
seraine
Posts: 734
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8/11/2011 9:00:09 AM
Posted: 5 years ago
At 8/10/2011 10:37:35 PM, quarterexchange wrote:
There aren't really any Pros to the minimum wage law. It essentially bans anyone whose labor is worth less than the minimum wage rate from working since businesses can't afford to engage in "charity" and hire someone for more than their labor is worth.

This essentially causes a significant amount of unemployment (especially among teens, who definately need such jobs to learn work ethics and develop their abilities and skills) and keeps many businesses that may need to rely on such menial tasks that don't justify minimum wage pay, needlessly undermanned.

What are your thoughts on " Businesses will make people work for pennies an hour without the minimum wage"? My thoughts are that the employer is dependent on the employee, and the employee will work for what he deems a fair wage. A situation:

John wants a job. Bob offers him a job as a clerk for $1.00 an hour. John refuses, and goes to work for Fred, who is offering a job as a clerk for $6.00 an hour. John goes to work for Fred, and Bob goes out of business.
BennyW
Posts: 698
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8/11/2011 3:31:12 PM
Posted: 5 years ago
I am con myself so I would argue that raising the minimum wage makes less jobs available and so unemployment goes up.

Th argument in favor might be to the effect that people deserve to get paid more.
You didn't build that-Obama
It's pretty lazy to quote things you disagree with, call it stupid and move on, rather than arguing with the person. -000ike
quarterexchange
Posts: 1,549
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8/11/2011 5:39:09 PM
Posted: 5 years ago
At 8/11/2011 9:00:09 AM, seraine wrote:
What are your thoughts on " Businesses will make people work for pennies an hour without the minimum wage"? My thoughts are that the employer is dependent on the employee, and the employee will work for what he deems a fair wage. A situation:

All worker's labor have a "market value", that is very dependant on the cost of living. Businesses compete for labor by hiring people for good wages meaning people who make more than minimum wage or make minimum wage aren't going to be affected.

Even IF you could make the case that workers would be paid only in pennies:

1. That's their choice to choose to only work for a small amount, not yours or mine or the federal government's.

2. The businesses that offer little money for their labor will only offer little money for whatever goods or services they provide. This will drive the cost of living down. People back in the 1800's only worked for cents as well, that didn't mean they were poverty stricken, this simply meant that businesses offered goods and services for much cheaper prices.

John wants a job. Bob offers him a job as a clerk for $1.00 an hour. John refuses, and goes to work for Fred, who is offering a job as a clerk for $6.00 an hour. John goes to work for Fred, and Bob goes out of business.

Essentially that's correct. Companies can't afford to pay people significantly less than what their labor is worth when businesses compete for workers. They also can't afford to pay more. They can only pay you what your labor is worth. The minimum wage law doesn't help one bit.
I don't discriminate....I hate everybody.
seraine
Posts: 734
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8/11/2011 8:15:01 PM
Posted: 5 years ago
At 8/11/2011 5:39:09 PM, quarterexchange wrote:
At 8/11/2011 9:00:09 AM, seraine wrote:
What are your thoughts on " Businesses will make people work for pennies an hour without the minimum wage"? My thoughts are that the employer is dependent on the employee, and the employee will work for what he deems a fair wage. A situation:

All worker's labor have a "market value", that is very dependant on the cost of living. Businesses compete for labor by hiring people for good wages meaning people who make more than minimum wage or make minimum wage aren't going to be affected.

Even IF you could make the case that workers would be paid only in pennies:

1. That's their choice to choose to only work for a small amount, not yours or mine or the federal government's.

Excellent point.

2. The businesses that offer little money for their labor will only offer little money for whatever goods or services they provide. This will drive the cost of living down. People back in the 1800's only worked for cents as well, that didn't mean they were poverty stricken, this simply meant that businesses offered goods and services for much cheaper prices.

John wants a job. Bob offers him a job as a clerk for $1.00 an hour. John refuses, and goes to work for Fred, who is offering a job as a clerk for $6.00 an hour. John goes to work for Fred, and Bob goes out of business.

Essentially that's correct. Companies can't afford to pay people significantly less than what their labor is worth when businesses compete for workers. They also can't afford to pay more. They can only pay you what your labor is worth. The minimum wage law doesn't help one bit.

Another important point is how much power workers have these days. Some of the stuff unions are demanding is ridiculous, and it actually appears that the company has to address their inane demands.
wjmelements
Posts: 8,206
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8/11/2011 8:31:58 PM
Posted: 5 years ago
The minimum wage is microeconomic lolz. It's much easier than a comparatively complex topic such as drug legalization.
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