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I actually kind of like the idea of minimum wage. not because it gives people a liveable wage but because it legislatively sets a minimum type of work you can economically coerce a human into performing. if you can't do that profitably then it is undesirable labor that should be automated away
- Doughnut Lollipop 【記録係】:blobfoxgooglymlem:, Another Linux Walt Alt and Johnny Peligro like this.
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@hakui give me a break, people are coerced into jobs that don't pay enough to even live, so the jobs teach them how to apply for public services.
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@sun it's not coercion if both parties agree on the terms on their own
what if the guy thinks being paid peanuts is still worth his time
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@hakui no it doesn't because you don't have anything lifting up people that can't afford to eat.
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@sun and as mdn mentioned a minimum wage will only push prices higher and you end up where you started
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@hakui @sun because this is just theoretical, not practical ever? It's not necessarily coercion I'd say, but if all jobs pay people peanuts, they don't have any other choice.
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@sun sometimes the local money supply is just that low which translates to deflation
if bumfuck, ohio has 100 people and 100k among them mandating the remaining business owners to pay their workers 10/hr is just going to make them go "fuck it" and quit
>but the fed is printing all the time
and none of it reaches bumfuck because there's nothing there that's investable
rome collapsed partially because they ran out of silver for daily transactions btw
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@hakui sure but like, you have a city with 25k people and it works
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@hakui this is like those velocidensity posts
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"labor theory of value" actually refers to the opportunity cost of delegating it to someone else
if the efficiency increase from hiring someone isn't worth paying them (because of minimum wage or whatever) the owner is going to not hire them and do the tasks himself even if it means taking a hit to efficiency
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@lain basically you should be hiring lossless workers