>Minimum wage isn't really Marxist afaik
That's correct, but current Marxists or people who claim to be left-wing always make it a top priority issue to increment the minimum wage.
That's correct, but current Marxists or people who claim to be left-wing always make it a top priority issue to increment the minimum wage.
Minimum wage jobs aren't meant to be a job for life. It's an entry level job. If you want higher paid jobs, you need to earn it. Minimum wage increase causes unemployment, you end helping a few at the expense of others who happen to need help the most.
For example, Someone owns a fence building company, and their crew can lay 1000' of fence a day by shoveling the fence post holes. The owner spends $100,000 and invests in a couple of big power augers, which lets his crew now lay 5000' of fence a day(also, the crew is less tired at the end of the day).
The crew is now 5x as productive as they were in the past, but it is because of the capital investment of the owner, not through any intrinsic increase in productivity from the crew itself.
Who gets to capture the increase in revenue?