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BigBen · 06-22-2006, 08:46 AM

As a man who studied this subject in-depth academically, I really want to get into this discussion.

Didn't we have a thread on this already?

And for quoting articles, let me tell you that even the academics don't agree on this one.

Minimum wages affect the market, and it is true that in an unregulated wage market, labour would be taken advantage of, ceteris paribus. There is much discussion about CEO's and their wage market, and how a healthy business should cap the CEO wage at 30 times the lowest paid employee. The janitor makes 20k? CEO only allowed to make 600k.

Historical economists try to peg the minimum wage to a consumer price index; a bundle of goods that an hours worth of labour could purchase. The price of oil was also used as a benchmark, because oil is used to transport workers to their place of employment. I liked this theorem. That is all it was; a theorem.

What would you do if I offered you your dream job? Close your eyes and think about that for a second. Gourmet chef? Professional photographer? Circuit Court Judge? Teacher? Cop? Soldier?

What would you be willing to take as a wage for that job? What? You would do it for free? Come on now... You need to eat. You need to care for your family. You need to save for an uncertain future. Free doesn't cut it.

What if I told you that all of your needs, and some of your wants would be taken care of? You would never have to worry about money. You wouldn't be rich, but you would be able to concentrate on your dream job without worrying about finances. What would you say?

I am of the opinion that a minimum wage only protects those workers who would otherwise end up as endentured servants anyway. There are illegal immigrants working in agricultural jobs that are in that position now. Without it, a pound of Union strawberries would cost about 30 bucks.

Labour is being outsourced to countries without labour laws. It hurts to see those jobs leave, but do we want those jobs anyway? I say no, we should train our workforce to contribute skill in a value-added environment.

Shit, what a wide topic. I STUDIED THIS SHIT, and I still have a hard time wrapping my brain around it.

06-22-2006, 08:46 AM	#12 (permalink)
BigBen Comedian Location: Use the search button	As a man who studied this subject in-depth academically, I really want to get into this discussion. Didn't we have a thread on this already? And for quoting articles, let me tell you that even the academics don't agree on this one. Minimum wages affect the market, and it is true that in an unregulated wage market, labour would be taken advantage of, ceteris paribus. There is much discussion about CEO's and their wage market, and how a healthy business should cap the CEO wage at 30 times the lowest paid employee. The janitor makes 20k? CEO only allowed to make 600k. Historical economists try to peg the minimum wage to a consumer price index; a bundle of goods that an hours worth of labour could purchase. The price of oil was also used as a benchmark, because oil is used to transport workers to their place of employment. I liked this theorem. That is all it was; a theorem. What would you do if I offered you your dream job? Close your eyes and think about that for a second. Gourmet chef? Professional photographer? Circuit Court Judge? Teacher? Cop? Soldier? What would you be willing to take as a wage for that job? What? You would do it for free? Come on now... You need to eat. You need to care for your family. You need to save for an uncertain future. Free doesn't cut it. What if I told you that all of your needs, and some of your wants would be taken care of? You would never have to worry about money. You wouldn't be rich, but you would be able to concentrate on your dream job without worrying about finances. What would you say? I am of the opinion that a minimum wage only protects those workers who would otherwise end up as endentured servants anyway. There are illegal immigrants working in agricultural jobs that are in that position now. Without it, a pound of Union strawberries would cost about 30 bucks. Labour is being outsourced to countries without labour laws. It hurts to see those jobs leave, but do we want those jobs anyway? I say no, we should train our workforce to contribute skill in a value-added environment. Shit, what a wide topic. I STUDIED THIS SHIT, and I still have a hard time wrapping my brain around it. __________________ 3.141592654 Hey, if you are impressed with my memorizing pi to 10 digits, you should see the size of my penis.