wkmac
Well-Known Member
just heard that a congressman from south carolina is trying to pass a bill which will allow Puerto Rico to get rid of its planned minimum wage.
so when workers are negotiating on a free market with their employer, it will be interesting to see how much less they will make with no minimum wage protecting them 5 years from now assuming this passes.
The actions of the above SC politico do make for good theater but what if the minimum wage was more about creating a price floor that benefits the very "rich" you are condeming?
You might study the history and relationship of the minimum wage with not just price floors but how it relates to actual wealth transfer up and down the economic hierarchy. Minimum wage can also act as an entry barrier not just for the individual but also across an economic class which then builds dependency while acting as a barrier to upstart competition. It also forces potential actors into a monopolized cash nexus controlled by the few to the disadvantage of the many.