There goes Florida's economy

1:So workers getting a raise won't work harder? 2:There's this concept called moderation that cons don't seem to understand.

 

You forgot to add that the sky will fall.

 

Cool story!

 

That's something I never understood about the minimum wage argument. If there are no bad effects from raising the wage, and only good ones, why stop at $15? or even $50? If I understand the argument, poverty could be lowered by raising the minimum wage, so if you set a minimum wage at $50 an hour than...poverty solved?

 

According to my college level economics class, they do not.

McDonalds is often used for an example of minimum wage. A typical McDonald might have twenty five employees or so (just a guess). Exactly what will they do to increase their productivity? Cook more hamburgers?. If they increase their productivity by an individual cooking more hamburgers, then they no longer need as many workers. So they could lay some off.

 

"Keep in mind," Malhotra said, that "all of these people previously made less than $3 per hour where they live." Employees in one group did not know of the existence of the other groups. One group was given a lower starting pay rate ($3 per hour) and another a higher one ($4 per hour). Evaluating the work effort and performance of the low-pay versus the high-pay group, Malhotra said that "employees who were promised $4 worked no harder than those who were promised $3." Higher pay didn't lead to statistically better performance."
https://hbswk.hbs.edu/item/do-employees-work-harder-for-higher-pay

 

Obviously you've never worked at a fast food joint.

 

Obviously you did not read the next post.

 

I did, it explains a lot.

 

It explains that paying more does not result in higher productivity.

 

Then there's real life.

 

Explain how increasing productivity at McDonald would work. I have worked at minimum wage jobs. I did all the work I was told. If I increaed my productivity, they could have gotten by with fewer employees.

 

And then you get to work harder for same pay.

 

You are claiming that higher pay increases productivity. No one is saying that they will work harder for the same pay. If they increase their productivity for higher pay, they no longer need as many employees.

 

What?

Your saying that business that doesn't cover the additional cost and raise fees, don't see the opportunity to increase client base?

 

Uh, no.

Labor is just another cost.

Profits are the goal. They will always maximize profits.

 

I explained it on my first post. The rest of your post is over simplistic. Though "complete nonsense" is more adequate. Minimum wage is for minimally qualified workers. Anything on top of that is to stimulate growth. It doesn't matter if you starts at $15 or 300 Mexican Pesos or 1500 Yen. It's just whatever is enough to give anybody who holds a full-time job a decent living standard. So it needs to be wherever the cost of that living standard starts. Once that is reached, companies that saw it as an opportunity thrive as their client basis increases (more money, more clients). Those who just see it as an extra expense they need to cover by rising prices will go bust. I do hope my competitors think like Republicans on this thread think.

 

Absolutely I say that!

Once people are making $15 an hour, they'll be able to afford my services. I get more clients. Good luck to my competitors who think like Republicans on this thread and just increase their prices.... but, make no mistake about it, I'm going after their clients too. That means even more clients for me.

And since my competitors just... increase prices, they don't need to do any more changes in their organization. Myself, I need technicians! So I'm going to create more jobs.

This is the best thing that could happen in a Republican state like Florida.

 

Complete nonsense.

 

Yep, just like magic. All those who currently spend every cent they earn on good living and fun times, will suddenly become responsible.

 

How I wish my competitors thought like you. That to maximize profits what you do is increase prices. I would beat the crap out of them in a heartbeat. Alas! They are more business savvy than that...

 

Lol...nonsense, but if you're looking to live large off the backs of the exploited poor, you'll be out of luck.

 

Insulting family members now, really?

 

In the end, it's a moral argument, not an economic one.

 

I see. So you argue that something can be created from nothing by simply waving the magic legislative wand.

How do consumers create wealth? Please explain this interesting process.