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Which is better for a poor person - to be paid $3.00/hour for working or to be unemployed where the minimum wage law is $6.00/hour? Unions love minimum wage laws, and they spend millions lobbying for them - why? Is it because union members can't compete with non-union members when it comes to productivity relative to cost? Why do human resources often get replaced with automation?

FTA: "Poor people are not poor because of low wages. For the most part, they're poor because of low productivity, and wages are connected to productivity. Congress can easily mandate higher wages, but they cannot mandate higher worker productivity… It's breathtakingly stupid to think of minimum wages as an anti-poverty tool. If it were, poverty in places such as Haiti, Ethiopia and Bangladesh could be instantly eliminated simply by proposing that these country's legislators mandate a higher minimum wage."

Minimum Wage Cruelty: Update

DISCUSS!

Original posting by Braincrave Second Life staff on Jun 1, 2010 at http://www.braincrave.com/viewblog.php?id=217

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