2016 March 06 Sunday
NY Times Wants National $15 Per Hour Minimum Wage

Of course their take on it and conventional critics of this policy proposal miss the most interesting consequences.

My three main points about a high minimum wage are still true:

  • It will slash demand for cheap low skilled immigrant labor, legal or illegal (while also slashing demand for our least intellectually and physically able).
  • It will speed up automation in many industries. And I love this because quality of service will soar and eventually costs will be even lower.
  • It will have minimal impact on GDP because the low paid are responsible for so little added value.

$15 minimum wage will compress the time for an economic transformation that is going to happen anyhow. I'd like to see it in some states just for the pedagogical value. But a limited scale roll-out will provide much less incentive for advances in automation to compensate for higher labor costs.

Are you for or against? Why?

Share |      By Randall Parker at 2016 March 06 09:59 AM 


Comments
Jim said at March 6, 2016 10:28 AM:

The problem is what do we do about the people whose economic productivity is not worth $15 per hour? And what percentage of the population would that be?

Gladys said at March 6, 2016 11:12 AM:

What do we do with them? Sterilize them in exchange for a few government handouts. They will not suffer. They will not be able to breed others who suffer.

Gladys said at March 6, 2016 11:13 AM:

What do we do with them? Sterilize them in exchange for a few government handouts. They will not suffer. They will not be able to breed others who suffer.

MikeCLT said at March 8, 2016 5:46 AM:

I am in favor of a higher minimum wage. however, I would like to see two minimum wages, one for teens and one for adults. I worked a lot of crappy minimum wage jobs in middle and high school and it did me good. However, I don't think I was worth anywhere near $15 p/h (inflation adjusted) or any teenager is worth that today.

Black Death said at March 8, 2016 2:28 PM:

It's springtime here in the Upper Midwest. Soon the fields will be full of the beat-up buses and vans that carry the migrant workers to do the grunt agricultural labor. Legal? Illegal? Minimum wage? Or less? No one knows or cares. There is zero enforcement around here (and this is a heavily Republican area). It's preposterous to think that raising the minimum wage will change anything. Illegal workers aren't going to complain and risk deportation, and the farmers like the nice low wages. Unless the laws are enforced, you can make the minimum wage anything you want and it's not going to make any difference.

atahualpa yupanqui said at March 10, 2016 2:27 PM:

"What do we do with them? Sterilize them in exchange for a few government handouts. They will not suffer. They will not be able to breed others who suffer."

What? Are you insane? What kind of a dictatorship do you believe to live in?

Engineer-Poet said at March 11, 2016 3:11 PM:

What part of "in exchange" (in other words, for those who volunteer) didn't you understand?


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