Thread: Minimum Wage
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Huh? Are you and I reading the same stuff?

Back to reality: Another thing mentioned is the substitute of machines for labor (and the substitute of offshore labor, except that for Meat Inversion Technicians and many other service jobs, that's not a reasonable substitute). But for many jobs, "replacement" with something other than American labor is a legitimate possibility. Yep, that's a problem, though many service-sector minimum wage jobs, capital investment is less likely than in higher paying jobs, and in manufacturing. Still, outsourcing is a real problem. Or at least, the movement to a "world" economy where wages will seek an equilibrium where outsourcing is an option (ummmm, we have pretty darned high wages here, and everywhere else is cheaper).

But you know the head of GM once conducted a tour of a new automated robotic car assembly plant, and the sightseer was the head of the UAW. When the GM of GM boasted, grinning, that the robots do not ask for raises, the head of UAW said "Yeah, but just try to sell a Chevrolet to one of them."

So you see, economics is interesting. It's one of those places where one plus one can be eight.

But then supporting its power not a good idea if your goal is very narrow. Harnessing the potential for a minimum wage hike to create jobs and reduce government costs only makes sense if your goal is the greatest good for the greatest number (yeah, total socialism, hahahahaha). If your goal is to keep the pond small enough so that your position on the food chain is assured, then tides that raise all boats might not be as attractive.
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