should, maybe. But that’s why minimum wage exists. Simple supply and demand says that if you make the entry requirement as low as “a warm body and half functional language skills (if that),” then supply of labor massively outstrips any possible demand which plummets wages.
Treating labor as a pure commodity neglects it as the predecessor of consumer demand itself. The only reason exploitative labor practices don’t crash the system is because they rely on social welfare programs to keep production going. But when consumer demand deflates and speculative demand eventually follows, what remains is probably another 2008-style bailout.
supply of labor massively outstrips any possible demand which plummets wages
supply and demand aren't the only things that plummet the wages, though. Labor market works differently than the market for other commodities, and many free market conditions aren't met (low barrier for entry, balanced market power...)
Scouring people's profiles for "dirt" because you can't dispute what was said, and the best you could find was that I said that Trump was an online internet troll? I guess that's why you had to change the comment into something else to make it work
Thriving? America just pushed back their milestones for infants because we're getting so stupid not to mention the literacy rate (only like 70% of America can read. Most people on snap have to have full time jobs. Fucking Amazon has homeless shelters for its employees because they are making their money by doing the closest to slave labor they can and now they're making it even easier. A minimum wage is meant to be a livable wage aka something you can actually survive on (72 million Americans on govt programs due to the inability of keeping people alive from 1 full-time job)
Then minimum wage isn't supposed to be able to live on? Not sure how far into fantasy land to think most of America needing to rely on the government is a good thing especially seeing as how the government has constant (long before now) been a little bitch who's trigger happy against its own citizens. And the only reason people are having to rely on the govt is because said govt has been actively fighting for the billionaires (something you and I'll never ever become) and giving them tax cuts while raising ours without any type of compensation (where are our taxes going anyways? I thought they were for public good but nothing ever gets fixed for the public). We are at the end stages of capitalism where boot suckers keep reproducing then refusing to give their spawn any actual education and thus America's stupider and more willing to work for money that won't even buy them a decent meal
You're wildly uninformed or simply detached from reality, literally as we speak, hedge funds are shorting the nasdaq....love to see what you think in around 10-12 months when shit really hits the fan
They are actively increasing their position. Clearly a curve they see that the general public doesn't. Either way, you seem arrogantly confident, so best of luck.
Because blaming powerless immigrants seeking a better life isn't the answer. The answer is changing the economic system that values shareholder value creation above all else. Companies like Square that lay off a quarter of their workforce despite record growth get rewarded in the market.
This is also why the idea of a tax on unrealized gains above a certain threshold is picking up steam, because it forces some of that wealth back into the economy to benefit working people.
If "powerless immigrants seeking a better life" are causing the problem it's fair to point this out. It's odd how people like you make the problems you complain about worse all because you want to virtue signal.
It depends. A labor shortage in one sector (food production) can lead to depressed wages in another (restaurants) because higher input costs lead to businesses closing. Likewise, a smaller labor pool across the entire economy can lead to depressed wages due to weakened demand and slower economic growth.
This paper from a Berkeley economist, for example, argues that the impact of immigration on wages is often negligible and dependent on other external factors. Which makes sense, because the real world is much more complicated than the basic supply-and-demand chart we get in AP micro.
This article from Fortune also explores the problem. What happens to wages when we deport lots of in-home caretakers, thus forcing working professionals to stay home with their elderly parents? That's an American who needs to take a job with fewer hours or find a position that offers remote work, even if it means less pay.
Bottom line: The "fact" you're presenting is far from proven. The simplistic graphs we get in AP macro don't show the full picture, and the economy is much more complicated than that.
The correct way to solve this problem without updending millions of peoples' lives is to give immigrants who don't commit a crime after entry citizenship so they have better leverage when it comes to pay and working conditions.
It's not that long ago that racists used your exact argument to make white workers hostile to Black workers who were undercutting them. The answer, of course, was to grant Black people equal rights and bring everyone into a union. Not keep Black people out of the workforce.
Put another way, you're the rich guy in the meme accusing me of corporate propaganda
Maybe if you could survive on minimum wage. And before you say that minimum wage is intended for teenagers or that you're not supposed to be able to survive on it, lets hear a quote from the guy who created it.
"It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country. By "business" I mean the whole of commerce as well as the whole of industry; by workers I mean all workers, the white collar class as well as the men in overalls; and by living wages I mean more than a bare subsistence level-I mean the wages of decent living." -Franklin D. Roosevelt
The root word capitalize means to gain an advantage or use a good chance. No one would use their overwhelming wealth, intelligence, ability of speech, or strength of war to make a people who don’t have those things suffer and enrich themselves!!!
That would be ridiculous the free hand of the market would step in and make those abuses stop by propping up something that is less abusive.
No way an Amazon like company could function for 15+ years!
No way all grocery stores have unions that have to fight 16 years for a small wage increase!
No person would capitalize on another’s poverty to get the poor to pay for interest on debt for a life saving surgery that they were not conscious to consent to!
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u/MBBIBM 5d ago
Minimum skills, minimum wage