What is your opinion about minimum wage?

[charles1]

On 10/25/2019 at 6:10 PM, emind said:

On 10/25/2019 at 6:10 PM, emind said:

@bazera Now, with that said, take it with a grain of salt

 

As far as I'm concerned, I've heard theories that goes both ways. Some economists even say raising the minimum wage may have a positive impact on unemployment. 

For those of you that speak French, here is a great explanatory multi-part series videos that explain those two radically different point of views

 

The first one explains the usual libertarian way of thinking

 Then, those two are an objection to the first video, where the Post-Keynesian model is presented

 

 

[charles1]

But, I have not yet find any convincing Meta-analysis on the empirical impact of raising the minimal wage. Let me know if you have some empirical evidences

[Meetjoeblack]

Study STEM or do a trade. Minimum wage income is a non issue if I learned to code or work as a engineer. Raising minimum wage just causes hyper inflation and more money to tax 

[Girzo]

Raising minimum wages reduces inequalities. In Poland in the last 4 years, we had raises of the minimum wage, tax-exempts for students and social program that hands out $125 for every kid in the household. The prices have risen, of course, but the strength of PLN relative to other currencies stays the same, which means everything imported is relatively cheaper.

[tsuki]

 

[Hansu]

7 hours ago, Meetjoeblack said:

Study STEM or do a trade. Minimum wage income is a non issue if I learned to code or work as a engineer. Raising minimum wage just causes hyper inflation and more money to tax 

Who brings food to the store if everyone focuses on STEM and coding? Who brings your letters and unglogs the pipes when you take a huge dump and screw up the whole street's sewage system? Who takes care of the elderly?

2 hours ago, Girzo said:

Raising minimum wages reduces inequalities. In Poland in the last 4 years, we had raises of the minimum wage, tax-exempts for students and social program that hands out $125 for every kid in the household. The prices have risen, of course, but the strength of PLN relative to other currencies stays the same, which means everything imported is relatively cheaper.

 

Sounds like great change is going on in Poland. Especially the 125$ increase in welfare per kid! Thats over 10% of the average monthly salary of a construction worker. Unless its one time time payment, and not monthly?

[Bno]

@Meetjoeblack You know process for everything has gone up except our wages? $8 in the 1980s is equivalent to $20 today. People can't make a living for all their expenses for basic needs off of minimum wage.

[Girzo]

7 hours ago, Hansu said:

Sounds like great change is going on in Poland. Especially the 125$ increase in welfare per kid! Thats over 10% of the average monthly salary of a construction worker. Unless its one time time payment, and not monthly?

It's right now around 20% of the minimal wage, but it's not correlated with anything, so it will be worth relatively less and less with time. Monthly.

Yeah, the current party is a good governor, they know how to reign power, but they also are SD stage Blue, which means: excessive funding of the Church, anti-EU nationalism, ecological deregulations, coal-based energy, using propaganda in national media to cover-up scandals and weird anti-LGBT crusade.

Edited January 2, 2020 by Girzo