Subnostr

#thoughtstr

So, this year I noticed more and more stores chose to close on Thanksgiving and now Christmas and most likely New Year's Day. Stores that didn't use to do this before.

I wonder if it's connected to the overall economic health and with that, now paying employees 1.5 times is a big deal, where it wasn't before.

So, that brings me to this thought: if we truly have free market, then on those days where businesses are required by law to pay employees 1.5 times, then they can charge the customers 1.5 times as well!! But if we truly had free market, there won't be laws requiring such thing, 😆😆. So, sorry for this jumbo shrimp thought of mine.

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Discussion

MAHDOOD 2y ago

There is also less business to justify paying extra on holidays so yeah good points

Jose Sammut 2y ago

If the employees demand higher pay, the employer needs to figure out if there will be increased output or pricing power to justify the increased costs before opening up for business. There usually is for stores / restaurants cause more people are off work and able to spend.

I think the free market would settle on something largely similar. Sometimes customers are sticky too, so it might make sense to serve them at a loss a couple days a year, to keep them coming on other days.

I don't think collective bargaining or unions are necessarily anti-free market either, unless they are forced of-course, so even if/where there are no 1.5X pay regulations, something similar would still come about.

OT 2y ago

A lot of small businesses in Australia have a 10-20% surcharge on major public holidays. They also need to pay employees 2x hourly wage.

Cindy 2y ago

I think stores saw sales decline, employees not wanting to work and public comments about the audacity to have employees work on holidays so they changed there tune. Just my thoughts. I’m happy to see stores closed on holidays.