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Tuesday, March 1. 2016

Experiments with minimum wage

It's not experimenting. It's politics, not economics. In the New York greater metro area, very few work for minimum wage anyway although I am sure many, especially new immigrants, would be willing to. Still, as every working person knows, the true minimum wage is zero.


This Won’t Hurt a Bit - The New York Times sees no downside in performing uncontrolled experiments on the labor market.

Posted by The News Junkie at 12:46 | Comments (7) | Trackbacks (0)

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http://cafehayek.com/2016/02/40439.html

It's not even politics. It's people's lives.
If it was just about politics and power, that's one thing. Political personalities jockeying for power is entertainment, as long as it doesn't impact people's livelihoods.

But they do impact incomes, because it's not just jockeying for power - it's the creation of slave voters who rely on the machine for their welfare.
#1 Bulldog on 2016-03-01 13:55 (Reply)
The true minimum wage is welfare. can I make more than being on welfare? is the calculation.
#2 Blick on 2016-03-01 14:06 (Reply)
Well, welfare is not a wage. It's charity.
#2.1 bd on 2016-03-01 14:44 (Reply)
It's not even charity.
Since when is government a charity?

It's a forced redistribution of income on the presumption that everyone who pays into it is OK with some unknown bureaucrat(s) dividing it up among anyone they deem 'worthy' of receiving it.

We don't vote on these bureaucrats or their criteria, and we don't give the money voluntarily like we do in a charity.

If I give money to help the homeless, I make sure the charity I'm giving it to does what they say with it. They don't usually pay many people in their organization, a higher percentage of my money reaches its presumed destination.
#2.1.1 Bulldog on 2016-03-01 16:24 (Reply)
The difference between minimum wage and welfare is the time frame. wage is per hour and welfare is per month. The calculation is the same --- do I make more or less than welfare? If bleeding hearts were serious about a living wage, they would buck welfare up their proposed living wage. Employers would have to match it to find workers.
#2.1.2 Blick on 2016-03-01 18:08 (Reply)
QUOTE:
“And in volume 2, page 33, speaking of New Zealand, " wages in the colony fell generally between 1879 and 1895. In 1889 the minimum amount of wages to be paid in industries was fixed by law. As a result the old and slow workers in the clothing and underclothing trades were all discharged and starved or became paupers," (vol. 2, page 64). ”

The references in the preceding is to: “ State Experiments in Australia and New Zealand,” written by William P. Reeves

--“Socialism; a speech delivered in Faneuil hall, February 7th, 1903, by Frederic J. Stimson

Well, these days we don't let them starve completely but those in government love making paupers.
#3 JK Brown on 2016-03-01 17:30 (Reply)
Should have added, that I looked up the reference above. Eventually, they issued special licenses to the old and infirm to work for less than the mandated minimum wage.
#3.1 JK Brown on 2016-03-01 17:32 (Reply)

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