Galt's Gulch

What does $15 per hour look like?

Posted by johnpe1 8 years, 5 months ago to Culture
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worth a thousand words. -- j
.

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  • Posted by $ MichaelAarethun 8 years, 5 months ago
    What will $15 minimun get you? Further up the wage price spiral inflation devaluation and debt repudiation or put another way f'n destroy your retirement fund. The nickel candybar wil be one dollar and half the size. Now think about unions whose basic wage is based as a percentage of minimum wage....ooohhhh never heard of that? Let them eat ethanol. It made the agricorps and fuel corps richer and gave jobs at newly substandard wages to people in Iowa after they screwed the rest of the country with a substandard product. And all it was in the end was distilleries. Jack Daniel could have done it at half the cost.
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  • Posted by $ root1657 8 years, 5 months ago
    From time to time I watch the old Milton Friedman lectures on YouTube. Because of that, I was not surprised by this. He explains very clearly how a minimum wage destroys jobs, and goes further to explain how a minimum wage is actually racist, and totally hurts the people it claims to be helping.
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    • Posted by johnpe1 8 years, 5 months ago
      exactly! . my first job, mowing lawns in the "poor section"
      of a good neighborhood, came with a zero minimum wage
      which I parlayed into 5 dollars per hour through excellent work
      when the actual minimum wage was a dollar and a quarter
      per hour. . very interesting. . work well and fast, with a good
      mower whose blade is sharp as a knife = $5/hr. -- j
      .
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  • Posted by CircuitGuy 8 years, 5 months ago
    That's coming one way or another. A $15-an-hour wage floor would have less effect than people imagine.
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    • Posted by johnpe1 8 years, 5 months ago
      yes, it's just fascism -- central elites telling business what to do. -- j
      .
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      • Posted by CircuitGuy 8 years, 5 months ago
        We already have a wage floor. Price floors are well understood to create "surplus supply", i.e. a group of people who would supply at a lower price and people who would buy from them at the lower price, if the gov't weren't keeping them apart. Increasing the price floor makes this worse. That increases amt of surplus supply, i.e. underemployed / unemployed people. That's bad, but it won't change the course of history or significantly affect adoption of automation. That's coming regardless of the wage floor.
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        • Posted by johnpe1 8 years, 5 months ago
          Yes ... it's just a speed adjuster, to change the rate of
          introduction and acceptance. -- j
          .
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          • Posted by CircuitGuy 8 years, 5 months ago
            You could be right, but my intuition says wage floors have almost no effect on this one area. They cause other minor problems, but automation is a tidal wave not significantly affected by this. This is just intuition, not facts, so I could be wrong.
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