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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
“Tolerance is the virtue of the man without convictions.” GK Chesteron
Inde muagdhe Aes Sedai misain ye!
Deus Vult!
*MySmiley*
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Case study of the damage liberalism can do - $15 Min Wage - 27/06/2017 01:54:54 AM 1339 Views
Seattle is a poor choice for a case study - 27/06/2017 05:31:18 AM 682 Views
Well, sure, but many of those non-entry level jobs are being held by baby boomers. - 27/06/2017 06:09:40 AM 702 Views
That's at least in part because the minimum wage makes automation more cost-effective - 27/06/2017 11:04:28 AM 631 Views
That is an incredibly silly argument. - 27/06/2017 08:56:09 PM 675 Views
If you assume wages can't go lower... - 29/06/2017 04:52:33 AM 696 Views
Many? - 27/06/2017 12:30:39 PM 681 Views
Amen. - 27/06/2017 07:21:47 PM 655 Views
Yes, many. My office is full of them. - 27/06/2017 08:59:55 PM 605 Views
So is life. - 27/06/2017 09:29:01 PM 638 Views
Re: So is life. - 27/06/2017 09:49:21 PM 641 Views
My father worked two jobs his entire working life. - 27/06/2017 09:56:56 PM 633 Views
We have a 40 hour work week for a reason. - 27/06/2017 10:17:15 PM 685 Views
That's a piss-poor analogy - 27/06/2017 10:23:04 PM 640 Views
How is that really relevant, then? - 27/06/2017 11:03:34 PM 602 Views
I am really enjoying this new-fangled "like" feature we have now. *NM* - 28/06/2017 12:13:42 AM 489 Views
*NM* - 28/06/2017 12:25:45 AM 360 Views
Personal choice - 28/06/2017 12:20:47 AM 704 Views
Re: Personal choice - 28/06/2017 12:32:31 AM 651 Views
In theory I agree with your ideas about a living wage, however - 28/06/2017 12:16:56 PM 653 Views
Very good questions - 28/06/2017 03:01:02 PM 642 Views
FULLY AUTOMATED LUXURY SPACE COMMUNISM. - 28/06/2017 07:49:59 PM 772 Views
damn *NM* - 27/06/2017 09:29:01 PM 431 Views
Just retire already, you luddite! *NM* - 27/06/2017 09:45:46 PM 445 Views
I wish. - 27/06/2017 09:48:02 PM 668 Views
Bad life decisions lead to bad life consequences - 28/06/2017 05:44:58 PM 631 Views
You also shouldn't respond to it by letting them die. - 28/06/2017 07:53:10 PM 628 Views
But this same arguement can be flipped by.... - 28/06/2017 10:34:25 PM 700 Views
I feel like you're making my arguments for me here. - 28/06/2017 10:51:38 PM 736 Views
an apt comparison - 28/06/2017 11:09:25 PM 608 Views
So everyone who "can't" - 29/06/2017 09:49:41 AM 624 Views
ummm - 29/06/2017 02:06:54 PM 562 Views
I know. And I disagree with you. - 29/06/2017 04:58:45 PM 668 Views
Health care and minimum wage are different discussions - 29/06/2017 05:14:07 PM 641 Views
I think nossy and I are ok with letting lazy people get by... - 29/06/2017 08:11:36 PM 647 Views
Si - 29/06/2017 09:08:03 PM 647 Views
Who said that? - 29/06/2017 09:47:32 PM 727 Views
Who said what? - 29/06/2017 10:32:12 PM 592 Views
There is a huge difference.... - 29/06/2017 05:10:05 PM 648 Views
Why does McDonalds keep coming up in this? - 29/06/2017 06:53:46 AM 784 Views
Nicely said. Or written. *NM* - 29/06/2017 09:30:06 AM 399 Views
All right, so what society without minimum wage do you point to as a model? *NM* - 29/06/2017 09:39:12 AM 430 Views
How about "all the ones we had before the 20th century"? - 29/06/2017 10:47:30 PM 768 Views
The ones where hunger and scarcity were widespread? - 29/06/2017 11:04:02 PM 618 Views
So just to put this out there... - 29/06/2017 11:12:47 PM 601 Views
Re: So just to put this out there... - 30/06/2017 01:34:03 AM 589 Views
Yes, and me being SUCH a fan of urbanization... - 30/06/2017 03:39:51 PM 775 Views
I for one am entirely unsuprised. Common sense result. *NM* - 27/06/2017 06:23:01 AM 387 Views
Seems like a methodology to identify struggling operations more than one to evaluate... - 27/06/2017 10:25:30 AM 656 Views
But the traffic is the WORST. - 28/06/2017 12:47:13 AM 712 Views
You are a Husky? TIL clover is one of the Huskies. - 28/06/2017 02:26:46 AM 571 Views
Re: But the traffic is the WORST. - 28/06/2017 10:38:54 AM 620 Views
Just to nitpick, Switzerland isn't exactly homogeneous. - 28/06/2017 10:28:01 PM 661 Views
So I've been thinking through this whole minimum wage thing.... - 28/06/2017 05:47:26 PM 703 Views
Re: So I've been thinking through this whole minimum wage thing.... - 29/06/2017 05:08:56 AM 679 Views

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