No one who understands what out-of-control inflation is like wants that.
Central banks, in particular, don't want that.
No one who understands what out-of-control inflation is like wants that.
Central banks, in particular, don't want that.
That's just free-market dogma. People already can't support themselves on minimum wage, and it's not going to do anyone (besides exploitative employers) any good to have them paid even less.
But now that I’m in Oregon I’ve noticed small businesses can’t compete with corporations here at all on price. It’s honestly crazy how much worse it is to get food at a small business. It’s definitely partially because of the overhead high minimum wage creates.
Only small businesses that I see who can compete are entirely within a family so they probably have family members helping out without expecting $22 an hour or whatever it is here.
Point is minimum wage laws aren’t black and white.
I disagree, on the basis that a poorly-paid job is better than no job at all in the long run for the employee.
A price floor causes a surplus, in this case of labor, meaning unemployed people; the people for whom the economic value of their labor is less than the minimum wage. You can call this free-market dogma if you'd like, but it's a well-established phenomenon.
The second-order effect is that those unemployed people become less and less employable over time, since they lose out on the experience, skill-learning, and relationship-building that they would have gotten on the job, poorly-paid though it may have been. They become further less competitive than the lucky ones who made the cut above minimum wage and were employed, and runs the risk of being a permanently unemployable underclass.
Countries like Norway and Singapore do quite well with no legally-mandated minimum wage.
California with 10% more houses is not 10% cheaper. It is slightly more expensive.
And installing a water main in a rural area is a lot cheaper than installing one in downtown NYC... and your water main needs to be bigger now too.
Same for fire, except now you have a new problem. When a house in New Jacksonville burns, one option is to let it control burn. The home is a loss, but this is a safe and viable option.
You can't do that in our manhattan. The entire city will be on fire.
And fighting a fire on a one floor residential house is easy. Fighting a fire on a 40 floor condo structure is complicated and takes many, many more trucks - and now instead of one home being lost, we are looking at ten or more homes, even if we are successful.
Water distribution to a bunch of little houses is easy if sort of requiring some piping. Distributing to a 40 floor condo building is an expert task requiring a whole mess more of complexity.