Brain357
Platinum Member
- Mar 30, 2013
- 37,068
- 4,189
Careful your gonna get broke going to McDonald.
The market will adjust. Gov't mandated higher wages will result in higher prices and fewer customers and jobs (not that people like you seem to care).
You base that upon that never happening with previous min wage increases?
The studies vary on the impact but they are all based on small min wage increases. However what is proposed is a doubling of the min wage. Given the technology currently available (and that sure to come) only a fool would argue that the supply of low skill jobs will not be diminished as well as the demand for low skill workers (but then, what do you care, eh?).
It has never been seen yet.
Yes, it has and the min wage has never been doubled in the face of technological alternatives like inexpensive automation. Be careful what you wish for.
"High minimum wages, however, particularly in rigid labour markets, do appear to hit employment. France has the rich world’s highest wage floor, at more than 60% of the median for adults and a far bigger fraction of the typical wage for the young. This helps explain why France also has shockingly high rates of youth unemployment: 26% for 15- to 24-year-olds."
http://www.economist.com/news/leade...-good-harm-they-should-be-set-technocrats-not
That is France. We have increased min wage here many times and it has not ever happened.