[quote]usmccds423 wrote:
[quote]Zeppelin795 wrote:
[quote]usmccds423 wrote:
[quote]Zeppelin795 wrote:
Why would someone hurt themselves economically?
[/quote]
You missed Nick’s point and it’s a good one. By creating an artificial floor (min wage) you are limiting the bargaining power of unskilled laborers. By this I mean (Nick meant) an unskilled laborer can’t undercut his competition by accepting less money up front. You see this as hurting himself economically. It isn’t if it allows him to get his foot in the door because #1 he’s earning a wage he, I assume, wasn’t before (unemployed) and #2 it allows him to work his way up beyond the minimum and hopefully to a good (whatever that is) wage. Point being he first needs the opportunity and you’ve limited how he can get it.[/quote]
There is no evidence he will increase his wage to a good one as productivity gains are not given to employees but rather consumed by those at the top. Plenty of studies to confirm this. So the potential employee has zero incentive to undercut his pay.[/quote]
You completely missed the point.
What is a good wage in your opinion?[/quote]
A fair wage is one that keeps up with productivity.