http://elliottback.com/wp/minimum-wage-increase-only-for-the-poor/ Internet & Technology Sun, 22 Nov 2009 02:40:56 -0400 http://wordpress.org/?v=2.8.4 hourly 1 http://elliottback.com/wp/minimum-wage-increase-only-for-the-poor/#comment-371085 Cibbuano Sun, 14 Jan 2007 22:54:24 +0000 http://elliottback.com/wp/archives/2007/01/13/minimum-wage-increase-only-for-the-poor/#comment-371085 For me, it seems crazy that people make so little at minimum wage. It's almost impossible to survive on minimum wage - here in Australia, the minimum is quite high, around $12-13 an hour, but most people in Sydney make over $15, I'd guess... For me, it seems crazy that people make so little at minimum wage. It’s almost impossible to survive on minimum wage – here in Australia, the minimum is quite high, around $12-13 an hour, but most people in Sydney make over $15, I’d guess…

]]> http://elliottback.com/wp/minimum-wage-increase-only-for-the-poor/#comment-370998 Andrew Sun, 14 Jan 2007 21:37:56 +0000 http://elliottback.com/wp/archives/2007/01/13/minimum-wage-increase-only-for-the-poor/#comment-370998 Another reason why raising the minimum wage is a bad idea is because the supply of minimum wage-laborers will increase, as more unskilled people wish to get minimum wage jobs, but the demand for the actual laborers will decrease, because the price of the labor has gone up. Thus minimum wage will only help those who excel at a minimum wage job, and it will result in those who aren't as adept being fired. It's a text-book example of social darwinism, where the best-fitted get an increase in wages, and the less-fit lose their jobs. Another reason why raising the minimum wage is a bad idea is because the supply of minimum wage-laborers will increase, as more unskilled people wish to get minimum wage jobs, but the demand for the actual laborers will decrease, because the price of the labor has gone up. Thus minimum wage will only help those who excel at a minimum wage job, and it will result in those who aren’t as adept being fired. It’s a text-book example of social darwinism, where the best-fitted get an increase in wages, and the less-fit lose their jobs.

]]> http://elliottback.com/wp/minimum-wage-increase-only-for-the-poor/#comment-370969 Will Sun, 14 Jan 2007 21:13:06 +0000 http://elliottback.com/wp/archives/2007/01/13/minimum-wage-increase-only-for-the-poor/#comment-370969 Having a minimum wage does have it's costs, but it also gives people with presumably the most pent-up demand some more spending power. Having a minimum wage does have it’s costs, but it also gives people with presumably the most pent-up demand some more spending power.

]]>