@untorquer Unfortunately you do not understand basic economics. Pay like price is a function of supply and demand, increase the labor supply without increasing demand and pay goes down.
Step 1: “I can’t pay you this much because [others] will do the work cheaper”
Step 2: “I’m going to higher you at a lower wage than you could expect before step 1. Please grovel at my feet for my benevolent charity”
“Basic economics” as an argument is ignorance of externalities.
You know we have wage regulation right? If you must use the law to enforce the “free” market then you could just as easily increase the already existing minimum wage.
If you don’t believe in a cost of living based minimum wage that’s a different conversation.
@untorquer@lemmy.Basic economics is a function of reality. If you wish to deny reality it’s not going to result in anything good for you and perhaps not for people around you. Wage regulation doesn’t work. Seattle is a glowing example of that. They raised their rates to the point where the majority of fast food restaurants folded their operations in town. Many grocery stores also had to close because it just wasn’t economically viable to keep doing business there. Many corporations up and left not only the town but the state. Now most of downtown office space is vacant. And they’re raising taxes more to pay for what all the free stuff they give to illegals on a shrinking revenue base because everyone legitimate is leaving. I left 45 years ago because I saw the writing on the wall.
The job pays too low across the board. Blame the bosses and the politicians enabling low wages, not the exploited laborers.
@untorquer Unfortunately you do not understand basic economics. Pay like price is a function of supply and demand, increase the labor supply without increasing demand and pay goes down.
Step 1: “I can’t pay you this much because [others] will do the work cheaper”
Step 2: “I’m going to higher you at a lower wage than you could expect before step 1. Please grovel at my feet for my benevolent charity”
“Basic economics” as an argument is ignorance of externalities.
You know we have wage regulation right? If you must use the law to enforce the “free” market then you could just as easily increase the already existing minimum wage.
If you don’t believe in a cost of living based minimum wage that’s a different conversation.
@untorquer@lemmy.Basic economics is a function of reality. If you wish to deny reality it’s not going to result in anything good for you and perhaps not for people around you. Wage regulation doesn’t work. Seattle is a glowing example of that. They raised their rates to the point where the majority of fast food restaurants folded their operations in town. Many grocery stores also had to close because it just wasn’t economically viable to keep doing business there. Many corporations up and left not only the town but the state. Now most of downtown office space is vacant. And they’re raising taxes more to pay for what all the free stuff they give to illegals on a shrinking revenue base because everyone legitimate is leaving. I left 45 years ago because I saw the writing on the wall.
Yes, all closed down.
@untorquer Yes McDonalds survived although $15 for a McDonalds burger seems a bit steep, but many better restaurants did not.
TF you mean? What fast food restaurants make up your majority? 🤣🤣🤣