Remember those $15/hr burger flipping jobs..
- Thread starter B00Mer
- Start date
No worries. Inflation will make 15% affordable again. Oh but wait, after inflation, then what's the point of raising the minimum wage? Then we'll raise the minimum wage, unskilled workers will be legislated out of work again, we'll inflate the currency again to help them get work again, only to raise the minimum wage again. Don't politicians ever learn?
I guess you would have to tell that to countries like Germany and Australia where the minimum wage is high enough that an individual can actually support himself. Coincidentally these countries have experienced fewer fluctuations in their economies. It is a myth that a higher minimum wage causes job losses. In fact it does the opposite by pouring more money into the economy from average wage earners.
Minimum wage effect on jobs - Business Insider
somebody is posting without a frikkin clue...^
in Germany. In sectors covered by generally binding collective agreements, less than 8.84 euros per hour can still be paid until 31 December 2017and in laundry services for commercial clients and the meat processing industry (8.75 euros). Minimum Wages in Germany averaged 8.61 EUR/Hour from 2015 until 2017, reaching an all time high of 8.84 EUR/Hour in 2017 and a record low of 8.50 EUR/Hour in 2016.
Germany Gross Minimum Wages | 2015-2017 | Data | Chart | Calendar
8.84 EUR = 9.38 USD
https://themoneyconverter.com/EUR/USD.aspx
Voters in Arizona, Colorado, Maine, and Washington approved November ballot measures to raise their respective minimum wages. Arizona, Colorado, and Maine will incrementally increase their minimum wages to $12 an hour by 2020. Washington's will be increased incrementally to $13.50 an hour by 2020.
New York became the second state to pass a new law that would raise the minimum wage in New York City to $15 per hour by the end of 2018. Washington D.C. followed suit, enacting a law to raise the minimum wage in the District to $15 per hour by July 1, 2020.
http://www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx
etc...etc..etc...
lol
AUSTRALIA AND THE USA: A SIMPLE COMPARISON
A simple comparison of the reported minimum wage rates and unemployment rates in Australia and the USA show that, prima facie (at first glance), Australia has a higher minimum wage and lower unemployment
Are things really topsy-turvy down-under? Since people in Australia are already walking upside down on the bottom of the Earth, do the laws of economics operate upside down also? Does the minimum wage in Australia lead to more employment, instead of less?
In light of recent debate over minimum wages, referring to the situation in Australia, one might be tempted to believe that the answer is “yes.”
Some commentators have argued, contrary to prevailing economic theory, that the minimum wage can actually increase employment, owing to additional “money in the pockets” of workers flowing on to greater spending in the economy, which in turn causes greater demand for goods and services, and more employment for workers.
Some have attempted to bolster this argument by pointing to the high minimum wage and low unemployment rate in Australia as evidence that the policy either does not cause unemployment, or possibly even increases employment. If only other countries could be more like Australia, where the beer is cold, the women run around in bikinis, and the minimum wage and employment levels are both high!
AUSTRALIA AND THE USA: A SIMPLE COMPARISON
A simple comparison of the reported minimum wage rates and unemployment rates in Australia and the USA show that, prima facie (at first glance), Australia has a higher minimum wage and lower unemployment.
Even after conversion of the minimum wage into equivalent currencies, or equivalent purchasing power, the higher minimum wage in Australia still holds. This simple comparison tells the story of an Australian economy with greater employment and higher minimum wages than in the US.
However, as with many superficial comparisons of this kind, there is a lot more to the story that must be understood.
First of all, the rosy picture of employment in Australia ignores a great many statistical issues that take certain kinds of unemployment and underemployment out of the official figure.
Second, the minimum wage in Australia is exaggerated somewhat by the above figure, since its application to low-skilled groups is tempered substantially, using a sliding scale of rates that reduces the hallmark figure for the main groups affected by the policy.
Finally, there is the simple fact that basic comparisons of this kind do not get to the root of the causal effects of a policy like minimum wages—economic comparisons must occur ceteris paribus (all other things being equal).
When one takes account of these various issues, the reality of economic law is brought back into focus, and the situation in Australia is neither unusual nor inspirational
https://www.mises.ca/the-minimum-wage-and-unemployment-in-australia/
if you can't do....teach
in Germany. In sectors covered by generally binding collective agreements, less than 8.84 euros per hour can still be paid until 31 December 2017and in laundry services for commercial clients and the meat processing industry (8.75 euros). Minimum Wages in Germany averaged 8.61 EUR/Hour from 2015 until 2017, reaching an all time high of 8.84 EUR/Hour in 2017 and a record low of 8.50 EUR/Hour in 2016.
Germany Gross Minimum Wages | 2015-2017 | Data | Chart | Calendar
8.84 EUR = 9.38 USD
https://themoneyconverter.com/EUR/USD.aspx
Voters in Arizona, Colorado, Maine, and Washington approved November ballot measures to raise their respective minimum wages. Arizona, Colorado, and Maine will incrementally increase their minimum wages to $12 an hour by 2020. Washington's will be increased incrementally to $13.50 an hour by 2020.
New York became the second state to pass a new law that would raise the minimum wage in New York City to $15 per hour by the end of 2018. Washington D.C. followed suit, enacting a law to raise the minimum wage in the District to $15 per hour by July 1, 2020.
http://www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx
etc...etc..etc...
lol
AUSTRALIA AND THE USA: A SIMPLE COMPARISON
A simple comparison of the reported minimum wage rates and unemployment rates in Australia and the USA show that, prima facie (at first glance), Australia has a higher minimum wage and lower unemployment
Are things really topsy-turvy down-under? Since people in Australia are already walking upside down on the bottom of the Earth, do the laws of economics operate upside down also? Does the minimum wage in Australia lead to more employment, instead of less?
In light of recent debate over minimum wages, referring to the situation in Australia, one might be tempted to believe that the answer is “yes.”
Some commentators have argued, contrary to prevailing economic theory, that the minimum wage can actually increase employment, owing to additional “money in the pockets” of workers flowing on to greater spending in the economy, which in turn causes greater demand for goods and services, and more employment for workers.
Some have attempted to bolster this argument by pointing to the high minimum wage and low unemployment rate in Australia as evidence that the policy either does not cause unemployment, or possibly even increases employment. If only other countries could be more like Australia, where the beer is cold, the women run around in bikinis, and the minimum wage and employment levels are both high!
AUSTRALIA AND THE USA: A SIMPLE COMPARISON
A simple comparison of the reported minimum wage rates and unemployment rates in Australia and the USA show that, prima facie (at first glance), Australia has a higher minimum wage and lower unemployment.
Even after conversion of the minimum wage into equivalent currencies, or equivalent purchasing power, the higher minimum wage in Australia still holds. This simple comparison tells the story of an Australian economy with greater employment and higher minimum wages than in the US.
However, as with many superficial comparisons of this kind, there is a lot more to the story that must be understood.
First of all, the rosy picture of employment in Australia ignores a great many statistical issues that take certain kinds of unemployment and underemployment out of the official figure.
Second, the minimum wage in Australia is exaggerated somewhat by the above figure, since its application to low-skilled groups is tempered substantially, using a sliding scale of rates that reduces the hallmark figure for the main groups affected by the policy.
Finally, there is the simple fact that basic comparisons of this kind do not get to the root of the causal effects of a policy like minimum wages—economic comparisons must occur ceteris paribus (all other things being equal).
When one takes account of these various issues, the reality of economic law is brought back into focus, and the situation in Australia is neither unusual nor inspirational
https://www.mises.ca/the-minimum-wage-and-unemployment-in-australia/
if you can't do....teach
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And as usual it appears to be you. Minimum Wage Around the World
Keep trying one of these days you might get something right.
I never flipped burgers. We had people to do that.
I fondly remember going into the kitchen at one of our houses and beating errant staff with leather straps. I don't recall my father paying them, but he did feed them. They were permitted to use the pig trough when the pigs weren't using it. As my father used to say,
"Pigs generate revenue for our farms. The servants don't. The pigs get 'to hog' the troughs!"
Then he would start laughing and make these little snorting sounds. That would cause me and my older brother to laugh. We never told him, but my brother used to say that dad snorted like a pig! If our father ever found out what he said, one of the staff would have been soundly beaten. That's for sure!
My father's manservant, Ashford, would say that he didn't snort. He chortled. As if Ashford's verb choice changed our opinion of father's snorting.
When Ashford got too old to serve the house any longer, he was discharged. I remember that summer quite well because father laughed (actually snorted) and told us that pigs eat human flesh. Don't fall into the sty. Strangely, we never saw Ashford again.
I fondly remember going into the kitchen at one of our houses and beating errant staff with leather straps. I don't recall my father paying them, but he did feed them. They were permitted to use the pig trough when the pigs weren't using it. As my father used to say,
"Pigs generate revenue for our farms. The servants don't. The pigs get 'to hog' the troughs!"
Then he would start laughing and make these little snorting sounds. That would cause me and my older brother to laugh. We never told him, but my brother used to say that dad snorted like a pig! If our father ever found out what he said, one of the staff would have been soundly beaten. That's for sure!
My father's manservant, Ashford, would say that he didn't snort. He chortled. As if Ashford's verb choice changed our opinion of father's snorting.
When Ashford got too old to serve the house any longer, he was discharged. I remember that summer quite well because father laughed (actually snorted) and told us that pigs eat human flesh. Don't fall into the sty. Strangely, we never saw Ashford again.