Comments on: The Minimum Wage – Should it Stay or Should it Go? http://www.donloper.com/business-and-entrepreneurship/the-minimum-wage-should-it-stay-or-should-it-go.html Thu, 09 Feb 2012 01:06:09 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Joshua Steimle http://www.donloper.com/business-and-entrepreneurship/the-minimum-wage-should-it-stay-or-should-it-go.html/comment-page-1#comment-796 Joshua Steimle Thu, 29 Jun 2006 16:09:40 +0000 http://72.47.194.140/uncategorized/the-minimum-wage-should-it-stay-or-should-it-go#comment-796 I'm not saying any government intervention is bad, and certainly there have been times in our country's history where it was necessary (anti-trust, workplace safety, etc.). But times change, and what was needed yesterday isn't necessarily what is needed today. Just because a country has sweatshops and widespread poverty AND no minimum wage doesn't mean one is being caused by the other. Most countries with sweatshops and poverty also have a fair amount of corruption and lack of public education, which I believe affect societies much more than a minimum wage does. And what about looking at countries that have gone farther with a minimum wage than the US? If a certain minimum wage is good, is a higher minimum wage better? In Europe many countries have higher minimum wages, and not just that, but they mandate more vacation time, better pensions, and employees have better job security because the governments make it very expensive to let an employee go. Those countries also have extremely high unemployment--upwards of 20% compared to less than 5% in the US. Chile is a country that has recently done away with much of the government regulations we have in this country. They let the market control things more so than we do, and their economy is going gangbusters because of it. A rising tide floats all boats, but a minimum wage is a factor in holding the tide back. I’m not saying any government intervention is bad, and certainly there have been times in our country’s history where it was necessary (anti-trust, workplace safety, etc.). But times change, and what was needed yesterday isn’t necessarily what is needed today.

Just because a country has sweatshops and widespread poverty AND no minimum wage doesn’t mean one is being caused by the other. Most countries with sweatshops and poverty also have a fair amount of corruption and lack of public education, which I believe affect societies much more than a minimum wage does.

And what about looking at countries that have gone farther with a minimum wage than the US? If a certain minimum wage is good, is a higher minimum wage better? In Europe many countries have higher minimum wages, and not just that, but they mandate more vacation time, better pensions, and employees have better job security because the governments make it very expensive to let an employee go. Those countries also have extremely high unemployment–upwards of 20% compared to less than 5% in the US.

Chile is a country that has recently done away with much of the government regulations we have in this country. They let the market control things more so than we do, and their economy is going gangbusters because of it. A rising tide floats all boats, but a minimum wage is a factor in holding the tide back.

]]> By: Nicholas http://www.donloper.com/business-and-entrepreneurship/the-minimum-wage-should-it-stay-or-should-it-go.html/comment-page-1#comment-795 Nicholas Thu, 29 Jun 2006 15:48:23 +0000 http://72.47.194.140/uncategorized/the-minimum-wage-should-it-stay-or-should-it-go#comment-795 I couldn't disagree more. Let's look at some of your statements: "My reasoning is that citizens of this country rarely benefit from government's intervention in private industry" - Let's really think about what you're saying. Child labor laws, working conditions, safety laws... Just look at whats happening in the mining industry when safety laws are relaxed... People are DYING. In a perfect world, we would have no need of government, but snap back to reality, there's a lot of greedy people out there that will hurt anyone to make an extra buck. Let's not forget about trademarks, copyrights, patents, all of these are examples of government interfering with private industry. Shoot, the entire stock market works only because government DOES interfere withprivate industry. Take a look at countries like China were private investment only begins once the government has shown its willingness to do so. "His argument hinges on the evidence he uses to support the idea that if the minimum wage is increased it will not affect how many people are hired. He says this is a myth, but think about this from a common sense point of view." Because common sense always out-weighs tangible evidence. The same common sense that tells people a pound of feathers is lighter than a pound of pennies. Thanks but no thanks, I'll stick with the evidence. "It ignores the valid idea that perhaps many more jobs would have been created if not for the minimum wage." I think this is were the evidence comes into play. I.e. if that were the case, where is the evidence. Feel free to perform or provide a study to back up your statement. "What Mr. Dobbs doesn't point out is that Henry Ford raised the salaries of his workers "far beyond the prevailing wage" with absolutely no government intervention. He chose to do it" I guess we could let people choose to pay taxes. Some actually would, but I think you get the picture. "But in the long-run it's the kindest, most compassionate thing to do, because many people who previously felt comfortable will be forced to get more education." Oh yea, because people living on minimum wage are SO happy with their situation that they balk at the idea of improving their life. There ARE examples of places without minimum wages and other labor laws... We usually refer to them as sweat shops. Your argument is that you take away minimum wage and people will run out and get educated... Reality says that you take away the minimum wage and those people have to run out and get two or three more jobs to make the same amount of money. Their 30 free minutes a day won't leave much time to get some education. "Eliminating the minimum wage would hurt and be difficult, but lifting weights also hurts and is difficult. But just because something hurts or is difficult doesn't mean it's a bad thing." Lifting weights doesn't hurt. In fact, if it does there's a good chance you might injure yourself. Lifting weights improperly can lead to serious injury and/or death. Eliminating the minimum wage would only increase poverty and do it quite effectively. I couldn’t disagree more. Let’s look at some of your statements:
“My reasoning is that citizens of this country rarely benefit from government’s intervention in private industry” – Let’s really think about what you’re saying. Child labor laws, working conditions, safety laws… Just look at whats happening in the mining industry when safety laws are relaxed… People are DYING. In a perfect world, we would have no need of government, but snap back to reality, there’s a lot of greedy people out there that will hurt anyone to make an extra buck. Let’s not forget about trademarks, copyrights, patents, all of these are examples of government interfering with private industry. Shoot, the entire stock market works only because government DOES interfere withprivate industry. Take a look at countries like China were private investment only begins once the government has shown its willingness to do so.

“His argument hinges on the evidence he uses to support the idea that if the minimum wage is increased it will not affect how many people are hired. He says this is a myth, but think about this from a common sense point of view.” Because common sense always out-weighs tangible evidence. The same common sense that tells people a pound of feathers is lighter than a pound of pennies. Thanks but no thanks, I’ll stick with the evidence.

“It ignores the valid idea that perhaps many more jobs would have been created if not for the minimum wage.” I think this is were the evidence comes into play. I.e. if that were the case, where is the evidence. Feel free to perform or provide a study to back up your statement.

“What Mr. Dobbs doesn’t point out is that Henry Ford raised the salaries of his workers “far beyond the prevailing wage” with absolutely no government intervention. He chose to do it” I guess we could let people choose to pay taxes. Some actually would, but I think you get the picture.

“But in the long-run it’s the kindest, most compassionate thing to do, because many people who previously felt comfortable will be forced to get more education.” Oh yea, because people living on minimum wage are SO happy with their situation that they balk at the idea of improving their life. There ARE examples of places without minimum wages and other labor laws… We usually refer to them as sweat shops. Your argument is that you take away minimum wage and people will run out and get educated… Reality says that you take away the minimum wage and those people have to run out and get two or three more jobs to make the same amount of money. Their 30 free minutes a day won’t leave much time to get some education.

“Eliminating the minimum wage would hurt and be difficult, but lifting weights also hurts and is difficult. But just because something hurts or is difficult doesn’t mean it’s a bad thing.” Lifting weights doesn’t hurt. In fact, if it does there’s a good chance you might injure yourself. Lifting weights improperly can lead to serious injury and/or death. Eliminating the minimum wage would only increase poverty and do it quite effectively.

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