An•arch•ei noun One with no ruler.
I am an individualist, I accept that the collective does not exist. I am an atheist, I accept that gods cannot logically exist in reality. I am a voluntaryist, I accept the immorality of violent orderless social organisation. I am a vegetarian, I accept that killing animals is not in line with the non—aggression principle. I am also a fairly decent writer, photographer, web designer, and graphic artist. Read More

The Truth About The Minimum Wage

FEE:

People don’t like to think that anyone’s labor is worth less than the minimum wage. Someone might end up flipping burgers for $5.00 an hour. You might think the minimum wage is a way of paying some sort of dignity premium—hence language like “living wage.” People with such good intentions look at the direct beneficiaries of these policies, say, burger flippers now making $7.50 an hour. They pat themselves on the back. But they rarely count the invisible costs: willing human beings who never get hired in the first place.

"But $5.00 an hour is not enough to live on!," they’ll say. For whom? A teenager living at home with his parents? An elderly person who wants simply to stay active? A single mom with three kids? A single woman sharing an apartment with 2 roommates? Of course, not all of these people could live off of $5.00 an hour. But some of them could given the opportunity. Concerns about those who couldn’t don’t justify minimum wages even if we ignored the invisible costs of the policy, which include reduced margins to businesses that might otherwise grow (and hire more people).

In other words, if you take off the bottom two rungs of the income ladder, many will never climb it. That’s the effect of the minimum wage. The more cynical side of me says that’s how many politicians and the overpaid teamsters want it.

See Also

The Truth About The Minimum Wage

FEE:

People don’t like to think that anyone’s labor is worth less than the minimum wage. Someone might end up flipping burgers for $5.00 an hour. You might think the minimum wage is a way of paying some sort of dignity premium—hence language like “living wage.” People with such good intentions look at the direct beneficiaries of these policies, say, burger flippers now making $7.50 an hour. They pat themselves on the back. But they rarely count the invisible costs: willing human beings who never get hired in the first place.

"But $5.00 an hour is not enough to live on!," they’ll say. For whom? A teenager living at home with his parents? An elderly person who wants simply to stay active? A single mom with three kids? A single woman sharing an apartment with 2 roommates? Of course, not all of these people could live off of $5.00 an hour. But some of them could given the opportunity. Concerns about those who couldn’t don’t justify minimum wages even if we ignored the invisible costs of the policy, which include reduced margins to businesses that might otherwise grow (and hire more people).

In other words, if you take off the bottom two rungs of the income ladder, many will never climb it. That’s the effect of the minimum wage. The more cynical side of me says that’s how many politicians and the overpaid teamsters want it.

See Also

Notes

  1. mostlyjudson reblogged this from anarchei
  2. sugashane reblogged this from anarcho-alowisney and added:
    What people forget is that there are plenty of people who work that don’t need to support anyone, not even themselves....
  3. voluntaryist-brit reblogged this from staticdiplomat and added:
    I didnt watch this when I saw it last night, it was too late for me to think, but I just watched it and it was really...
  4. staticdiplomat reblogged this from anarchei
  5. divinelyunderstood reblogged this from anarcho-alowisney
  6. anarcho-alowisney reblogged this from anarchei
  7. anarchei reblogged this from iambinarymind and added:
    The Truth About The Minimum Wage See Also Philosophy Economics
  8. iambinarymind posted this