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Re: So I've been thinking through this whole minimum wage thing.... Cannoli Send a noteboard - 29/06/2017 05:08:56 AM

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How is that figure determined? I've read most of this thread, but I don't seem to remember anyone mentioning where that figure of $15 per hour comes from. I've seen thoughts and concepts referenced that shouldn't the minimum wage cover basic life necessities?

As determined by.....? What's a necessity? What isn't? I've seen that it should pay for rent. Where? The last time I was apartment shopping (more then 5 years ago now), I found a little 2 bed/2 bath, 1100 sqft...no garage. It was $2650 per month. It was not nice. It was old, needed work, and had a serious ant problem.

What I'm getting at is how are we expecting a blanket figure to actually accomplish the goal? And even if it doesn't accomplish the goal, wouldn't it actually hurt the situation? I'm no economics expert...so I'd like to see someone actually explain it.

~Jeordam


Well, the people advocating for minimum wage aren't doing so out of economic reasons, but political. They're doing it to bribe the bottom sectors of the working public for their votes. One law of economics is that if you set a price cap on a particular commodity, you are going to end up with a shortage of that commodity (unless the cap is set so high as to be irrelevant), and if you set a minimum price, you are going to end up with a surplus. Wages are the price paid for the commodity of labor. Setting a minimum price for labor will result in a surplus of labor, which is better known as "unemployment."

They arrived at the $15/hour figure not by calculating what would be needed for a living, but by offering more than what was already available. This is the best kind of promise for a politician or activist. It requires no spending or distribution, since the money ostensibly comes out of the employers' wallets (but is, in reality, paid by the customers, in prices raised to cover increased payroll, and by the existent workforce, in extra labor to compensate for decreased coworkers), and by the time the bad consequences come around, no one is willing to blame the people who pushed it, because they are all accomplices, having taken the higher paychecks. It's purely a win-win situation.

Cannoli
"Sometimes unhinged, sometimes unfair, always entertaining"
- The Crownless

“Tolerance is the virtue of the man without convictions.” GK Chesteron
Deus Vult!
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Case study of the damage liberalism can do - $15 Min Wage - 27/06/2017 01:54:54 AM 1660 Views
Seattle is a poor choice for a case study - 27/06/2017 05:31:18 AM 1044 Views
Well, sure, but many of those non-entry level jobs are being held by baby boomers. - 27/06/2017 06:09:40 AM 1035 Views
That's at least in part because the minimum wage makes automation more cost-effective - 27/06/2017 11:04:28 AM 924 Views
That is an incredibly silly argument. - 27/06/2017 08:56:09 PM 991 Views
If you assume wages can't go lower... - 29/06/2017 04:52:33 AM 1019 Views
Many? - 27/06/2017 12:30:39 PM 1008 Views
Amen. - 27/06/2017 07:21:47 PM 996 Views
Yes, many. My office is full of them. - 27/06/2017 08:59:55 PM 927 Views
So is life. - 27/06/2017 09:29:01 PM 951 Views
Re: So is life. - 27/06/2017 09:49:21 PM 948 Views
My father worked two jobs his entire working life. - 27/06/2017 09:56:56 PM 976 Views
We have a 40 hour work week for a reason. - 27/06/2017 10:17:15 PM 1006 Views
That's a piss-poor analogy - 27/06/2017 10:23:04 PM 942 Views
How is that really relevant, then? - 27/06/2017 11:03:34 PM 912 Views
I am really enjoying this new-fangled "like" feature we have now. *NM* - 28/06/2017 12:13:42 AM 667 Views
*NM* - 28/06/2017 12:25:45 AM 525 Views
Personal choice - 28/06/2017 12:20:47 AM 1030 Views
Re: Personal choice - 28/06/2017 12:32:31 AM 1005 Views
In theory I agree with your ideas about a living wage, however - 28/06/2017 12:16:56 PM 1013 Views
Very good questions - 28/06/2017 03:01:02 PM 955 Views
FULLY AUTOMATED LUXURY SPACE COMMUNISM. - 28/06/2017 07:49:59 PM 1106 Views
damn *NM* - 27/06/2017 09:29:01 PM 613 Views
Just retire already, you luddite! *NM* - 27/06/2017 09:45:46 PM 584 Views
I wish. - 27/06/2017 09:48:02 PM 985 Views
Bad life decisions lead to bad life consequences - 28/06/2017 05:44:58 PM 952 Views
You also shouldn't respond to it by letting them die. - 28/06/2017 07:53:10 PM 965 Views
But this same arguement can be flipped by.... - 28/06/2017 10:34:25 PM 1034 Views
I feel like you're making my arguments for me here. - 28/06/2017 10:51:38 PM 1060 Views
an apt comparison - 28/06/2017 11:09:25 PM 924 Views
So everyone who "can't" - 29/06/2017 09:49:41 AM 964 Views
ummm - 29/06/2017 02:06:54 PM 888 Views
I know. And I disagree with you. - 29/06/2017 04:58:45 PM 1005 Views
Health care and minimum wage are different discussions - 29/06/2017 05:14:07 PM 1013 Views
I think nossy and I are ok with letting lazy people get by... - 29/06/2017 08:11:36 PM 956 Views
Si - 29/06/2017 09:08:03 PM 985 Views
Who said that? - 29/06/2017 09:47:32 PM 1031 Views
Who said what? - 29/06/2017 10:32:12 PM 922 Views
There is a huge difference.... - 29/06/2017 05:10:05 PM 983 Views
Why does McDonalds keep coming up in this? - 29/06/2017 06:53:46 AM 1140 Views
Nicely said. Or written. *NM* - 29/06/2017 09:30:06 AM 560 Views
All right, so what society without minimum wage do you point to as a model? *NM* - 29/06/2017 09:39:12 AM 590 Views
How about "all the ones we had before the 20th century"? - 29/06/2017 10:47:30 PM 1090 Views
The ones where hunger and scarcity were widespread? - 29/06/2017 11:04:02 PM 942 Views
So just to put this out there... - 29/06/2017 11:12:47 PM 923 Views
Re: So just to put this out there... - 30/06/2017 01:34:03 AM 882 Views
Yes, and me being SUCH a fan of urbanization... - 30/06/2017 03:39:51 PM 1130 Views
I for one am entirely unsuprised. Common sense result. *NM* - 27/06/2017 06:23:01 AM 615 Views
Seems like a methodology to identify struggling operations more than one to evaluate... - 27/06/2017 10:25:30 AM 958 Views
But the traffic is the WORST. - 28/06/2017 12:47:13 AM 1072 Views
You are a Husky? TIL clover is one of the Huskies. - 28/06/2017 02:26:46 AM 892 Views
Re: But the traffic is the WORST. - 28/06/2017 10:38:54 AM 959 Views
Just to nitpick, Switzerland isn't exactly homogeneous. - 28/06/2017 10:28:01 PM 993 Views
So I've been thinking through this whole minimum wage thing.... - 28/06/2017 05:47:26 PM 1030 Views
Re: So I've been thinking through this whole minimum wage thing.... - 29/06/2017 05:08:56 AM 1054 Views

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