Skip to comments.What’s behind a fair minimum wage? | As It Turns Out ($15 'not necessarily socialism')
Posted on 02/05/2014 2:58:22 AM PST by Libloather
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Nancy Pelosi avoided it too
If its good business the good business owners will do it thrive.
That brand is long gone...wonder why??
Ford paid his workers such a then- high wage fro basically two reasons:
1. There was a labor shortage..He needed to attract workers, especially from competitors.
2. Ford had introduced the assembly line. Workers were very resistant to it at first..it was totally different from anything else..so he needed the higher wage to convince them to come work and try it..
And that was Henry Ford's decision to make, not the government's to mandate.
Raising the minimum wage for a larger area will have the effect of cheapening the wages of those making more through inflation, and thus damage the middle class (some more).
I believe that is the Marxists' desired effect.
If it is a local phenomenon, it will make the landlords and real estate brokers a bundle (and increase tax revenues--gummint can be greedy, too), but the average person will suffer in the long run--especially if they are on a fixed income.
There is no such thing as a “fair” wage except in the minds of the employers and the employees. In a free market, it’s an agreement/contract between the 2. What you offer and what I accept are transactions between free adults in a free market. What they agree to is “fair”.
In reality, however, we do not have a free market. It is so rife with government involvement, cronyism, efforts to influence prices and wages by means of illegal immigrants, and market distortions by everything from the EPA to the IRS to NAFTA that the entire discussion has become a political tool to appeal to voters.
From that standpoint, any effort to arrive at something “fair” is impossible.
I imagine that in our era the closest to a “fair” wage is to own your own business and at least have the opportunity to make your own “fairness”.
Why stop at $15 make it $25.
Hardly true of the current minimum wage labor market.
Note that Ford raised his wages on his own accord...not forced by the government
His competitors weren’t happy...they wanted government to stop Ford from raising wages.
It will have the effect of narrowing portals of entry to the workforce. Fast food restaurants may have 100% or more annual employee turnover rate. Most leave when they find better jobs. According to company estimates, one in every eight American workers has been employed by McDonald's at some time. If half the jobs in a fast food restaurant are replaced by automation, that's half as many who will gain entrance to the work force. (It does create a permanent underclass of Democrat voters who are dependent on the government for their every need.)
Plus Ford wasn’t dictated to by the fed. gov. He made a business decision...just like the owner of any other business. What Ford did had nothing to do with raising the minimum wage. If Ford couldn’t have paid his workers that money, he wouldn’t have done so. That’s a lot different than the gov. telling a business owner what they have to pay their workers.
Let’s go for PERFECT “Social Justice”. Everybody makes 25$ an hour, period. Celebs, Lawyers, Doctors, Athletes, Celebs, even the unemployed. We would have a perfect equal society, no?
Back in the mid 1980s I could buy 4 books for $20 now two paperback books cost me that. Minimum wage has increased the cost of living.
The automation created to replace low skill workers in turn creates a higher paying, higher skilled job for someone to maintain and repair the automation equipment. That job will not go to a minimum wage flunkey.
True that. And unfortunately, it's not a 1:1 ratio -- one tech might maintain dozens if not hundreds of machines.
More low-skill workers trying to enter the workforce will have no minimum wage job experience on his or her resume to prove to other employers that he can show up at work on time and follow instructions.
"Obamanomics -- expanding the permanent underclass!"
Ford paid what he did, at his own option, because it was good for his business, and not because the government forced him. He also expected more than $5 a day in value from his workers.
And that was Henry Ford’s decision to make, not the government’s to mandate.
We HAVE a winner...no more calls please.
:: The Bureau of Labor projects the majority of jobs developing to be low-wage service jobs. Is this the fault of the unemployed who are still out there looking for decent work, or is this the fault of big businesses who have greedily outsourced their production jobs for increased profit? ::
How about market forces performing as designed?
If, as an employer, I had need for a worker and the regulators said that $10/hr was fine with them...
Well, by golly, if I hire from outside the company that ^VP of Operations^ opening will be $10/hr to start.
You forgot politicians.
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