Posted on 05/29/2014 8:29:34 PM PDT by QT3.14
Well that’s determined by all sorts of variables – how much the person seeking the job is willing to take, how much the person wanting the job done is willing to pay, the scarcity or abundance of labor, etc.. And so in a free market, when a job is open it is up to the person seeking to have the work done and the person seeking a job to decide what it is worth to each of them. If they can reach agreement, then the job is offered to the person seeking the job. If agreement can’t be reached, then the job goes unfilled.
The bottom line is that no outside party can decide what that job is worth – in that mythical free market, that is. However, we don’t have a free market and legislators, trying to buy the good will of voters with other people’s money, often decide they know what every job is worth at a minimum. Thus the minimum wage.
(Excerpt) Read more at qando.net ...
A wage should only be determined by the employee and employer, the government needs to butt out of it.
A wage is not determined by the employee or the employer or the government, the wage is determined by the value one is able to produce. Cost and value are very different things. It does not matter what something cost if no one values it enough to pay that price. Realistically, the wage is determined by the purhcaser of the good or service. If they do not value it in excess of cost (wage and other costs) there is no sale.
If the minimum is $7.50 you must add taxes, Fica, workers comp, insurances, etc. In all likelihood the wage will now be somewhere around $20 and hour. If you do not produce $20 an hour in value, or more, then the venture will fail.
I think i got minimum wage at my first job between college semesters starting in summer of 1971 then again,72,73. at first but got a raise within a week or two after they saw i could work my butt off and keep my mouth shut. It was an ice cream factory warehouse back platform job. the warehouse was kept at 10 degrees and the upstairs freezer bed had two 4ft fans blowing. i drove 45 minutest one way and started at 5am, got up at 3:30 and my mom got up and made me breakfast everyday 6 days a week. i paid for college tuition and then paid my room and board at college by cleaning the mens dorm toilets and hallways. How could life be so cruel. i loved it. not the toilets but i quickly graduated to carpet shampooer, bug sprayer, special jobs.
You don’t get what you deserve, you get what you negotiate.
That is up to the market to determine.
“Job? Waz dat?”
—obama voter on EBT and welfare while making free calls on obamaphone
I remember when I was hired at my current job about 11 years ago. The manager handed me a folded up piece of paper with a number on it. It was $11,000 more then I was getting at my job that was going away due to cutbacks (3,000 others lost their job).
I could not believe it! but I was cool.... until I got in my car and was a few miles down the road going YEAH!
If they had offered me my same salary I would have taken the job : )
Now I wonder what I would be offered in today’s economy and at my age?
but there is great unfairness in what some people claim is worth more...usually, "womens" work...the taking care of the old and the young and everybody inbetween is paid less than guy who sells cars, or insurance, or who fixes the toliet...
the caretakers of the little children...America's future....are paid insanely little for the responsibility they take on...
Therefore, the more money you make, the less work you have to do, and the less your work is worth.
One day I hope to have a job where I just need to make one ten minute phone call a day and make a billion a year.
If the pay is too low, then nobody would be willing to do the job.
And with immagration reform the market wage just drops for a variety of reasons. The politicians in favor won’t loose a nickel. Even if voted out after the fact they get a lifetime pension.
I long for the day when the union rank-and-file realize that their unions have sold them out by politically supporting these open-immigration policies with the rank-and-file's union dues.
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