For all of his many, many, egregiously unforgivable faults, Henry Ford had it right in paying his workers above average wages. He seems like the only capitalist in history to understand the concept.
I’m all for raising the minimum wage. Even including because I believe that increasing pay for the lowest wage workers boosts the economy.
But this went into effect in April, and they’ve added 11k jobs since then, which accounts for 1.5% of the total fastfood jobs…during a growing economy.
This isn’t some evidence that raising minimum wage increases job growth, but a good data point that it can not hurt it.
Confirmation bias is a hell of a drug, always be mindful of it.
For all of his many, many, egregiously unforgivable faults, Henry Ford had it right in paying his workers above average wages. He seems like the only capitalist in history to understand the concept.
When you pay your employees enough that they can afford to buy the products they make, they actually buy those products. Surprised Pikachu Face
I’m all for raising the minimum wage. Even including because I believe that increasing pay for the lowest wage workers boosts the economy.
But this went into effect in April, and they’ve added 11k jobs since then, which accounts for 1.5% of the total fastfood jobs…during a growing economy.
This isn’t some evidence that raising minimum wage increases job growth, but a good data point that it can not hurt it.
Confirmation bias is a hell of a drug, always be mindful of it.