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by Jochim
1129 days ago
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Where is the self volition following: > What if there are simply not enough jobs available at the rates that people want to be paid? Decisions are made by others that put people in a position where there is practically no self volition, only struggle. There is no shortage of resources or capital that requires us to put these people in that position, as evidenced by the, ever growing, vast sums of wealth controlled by a tiny minority. We could choose to restructure things in such a way that people are paid more fairly, and everyone works less. |
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Suppose there is some work which has a maximum value to the employer of $9/hour, e.g. because that's how many more sales they make if they have an employee stocking shelves in addition to checking out customers instead of having one employee do both, because then there is less time when a product isn't on the shelf. So they might offer to pay $8/hour, if someone is willing to work for that. If you set the minimum wage at $10/hour, they aren't going to pay that for this, even if they have a billion dollars, because paying $10/hour would cause them to have $1/hour less.
If what you want to do is tax the rich and give it to the poor to make sure everyone has a minimum amount, that's a UBI, not a minimum wage.