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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (741306)9/23/2013 10:36:34 PM
From: i-node  Read Replies (1) of 1579450
 
>> I can see why it exists. You don't want employers going out and exploiting anyone for way too little. Nor do other employers want to compete against those who are doing just that. Kind of frustrating for an honest business to have to compete against someone skirting the law and hiring illegal immigrants, for example.

That was obviously a valid concern in the distant past. But today, not so much. People are mobile today, information is readily available, and if the markets set prices higher than $2/hour, people are going to find out about it and they'll go work over there. And, people have alternatives, in the form of taxpayer subsidies that bring in more than MW anyway.

The potential for downside problems is great, as we're seeing today. There are people whose labor simply isn't worth the minimum wage, particularly given the global economy (last night I was looking for someone to do a little graphic design, and I noticed people in other countries doing that work for $5/hour). And the potential for nutjobs to demand unreasonable minimum wages -- and get it -- is great.

Not that I think you could ever do away with it, at least not until a major economic collapse occurs with heavy duty deflation. Which will eventually happen.
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