Replying to Avatar Fiat Shenanigans 🤡🌎

The labor market, like any market, is subject to the forces of supply and demand.

If labor is being undervalued, this points to a supply/demand imbalance.

You cannot correct a supply/demand imbalance by simply setting an artificial price floor in the market.

The concept of a minimum wage comes from an ignorance of these economic principles.
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brah 2y ago

The central planners will still try it haha

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Fiat Shenanigans 🤡🌎 2y ago

Pointless. The minimum wage in my town is $7.35/hr, but no place in town pays less than $12/hr, because that's where the forces of supply and demand have set the price of unskilled labor in this town.