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Again, think logically. The most workers have wages much higher than minimal. In NZ minimal wage is $8.50 while skilled workers in construction get $15-20 and more. What make employers pay these wages if they are not forced by govt to do this? It seems you believe in omnipotence of king’s orders. But it’s not kings but market who dictates wages and prices and all the King's horses and all the King's men can’t change its decisions. There are lots of people working illegally for wages lower than minimal ( I did), sometimes the whole industries stand on this like picking oranges in America. The only effect of kings’ orders is that it’s much harder for these people to find a job.
Why? They are honest opinions!!
To Aladdin. Do you seriously don't understand why ones earn more than others or you just pretend to be a dummy?
Don't see how... I mean either way how many people are unemployed and not actively looking for work? You'd think the minimum wage would be an incentive really because they wouldn't be exploited. Either way... whether it's a good idea or not, people need money to eat, drink and sleep under a roof as well as support their family.
Minimal wages hit small business in first turn. Small businesses exist on the verge of bankruptcy, every little change of market situation can either push them up or kick them out of market. If some small shop has three employees who get minimal wages and then govt puts the plank higher, what are the owner’s options? He can’t afford pay this new wage so he have either to fire one of them ( that means more work for him and members of his family who are not employees from legal point of view) or close down the business or work illegally. In first two cases this mean more jobless, in third one this means more risk and more uncertainty.
Now look at this from other side. Who are these people who work for small wages? Teenagers, uneducated and unskilled people, people with bad health, immigrants not knowing the language well, retired people who want extra cash to their pensions. Shortly, the less protected and weakest part of the population. Now, when new wages are established, places where they were welcomed before are closed for them. Instead to have small earnings they have no earnings at all. They also won’t find a job in big and medium companies because a demand on unskilled workers in these sectors is much less.
It is not just a theory, I know these things from my own experience and experience of my friends.
Do you read Robert Heinlein books by any chance?
I read a lot of things you have no idea about. Did you read the best communist utopia ever written? I'm talking about Ivan Efremov's books "Galaxy of Andromeda" and especially " The Hour of Bull"? If you never read this stuff you can't judge what communism idea is about.
Thought so. I read his books as a kid as well and had some of the same opinions as you do as a teenager. As I got older, I realised that people and life are a lot more complicated, and libetarian economics are far too simplistic. As is anarchism.
LOL!