Let’s just make minimum wage 100k a year. Problem solved. Right?
The higher mandatory wages go the less people will have a job.
The quality of a peron’s work has to match the salary. If a person’s work is worth $10 and a company must pay $16, it will not be worth hiring the person so they won’t have a job.
Also run the risk of as mandatory salaries goes up, current employees will be laid off to pay the ones that small companies can still afford to keep on staff.
Nah this is bullshit and has been disproven every time wages are increased (or not increased).
Pay to start a company, then pay to hire a few people, and see what you think of how expensive it is to hire someone and if it’s worth the cost out of your own cash.
You sound like some of the business people I know who seem to think that society owes them a business or that workers are their just deserts for having graced the community with their business idea.
I’ve been told for 50 years that I’m not owed a job, so I don’t know why employers think they’re owed the fruits of my labour.
A company shouldn’t exist if the value of the world they depend on to exist is valued at less than a person can live on.
It’s predatory. I guarantee you if doordash goes out of business because of this a different app will pop up, probably with different ideas or a new way of thinking that they can be profitable from while paying the higher wages.
Interesting.
Do you have some sources you can cite to back up these claims? I’d love to read an accredited source for how an employee being paid more would damage an employer beyond the means of maintaining their business and why it’s ethical to maintain a business that only survives off exploiting cheap labor?
A much serendipitous coincidence: one of the economists that won the Economics Nobel Prize
for pioneering research that showed an increase in minimum wage does not lead to less hiring and immigrants do not lower pay for native-born workers, challenging commonly held ideas
is Canadian!
If a minimum wage better matched with the cost of living, people wouldn’t need to have multiple jobs, thus the reduction of openings wouldn’t put too many people out of work.
As wages go higher for everybody, inflation costs goes up and pay higher costs for living.
Ah the unending cycle of capitalism. Neverending growth can never fail.
Yes, there are some counterpoints to minimum wage increases. That’s one of them: raising the bar for employability, which also raises the bar on business viability, both of which might ultimately decrease the job pool size. I think it’s reasonable. Inflation is another one.
On the other hand I think at this point most economies are in agreement that minimum wage increases above inflation are a necessity and that gig economy workers need some of that protection as well given we don’t have a well stablished legal framework for them. Because this is gig work, it doesn’t make sense to speak of layoffs. But one could expect a price increase passed on to consumers, which could lead to lower demand, therefore a risk of lower income for workers long-term; but it’s factored in and it’s a good experiment on the trade-off.
