nostr:npub1ukcz3c3ek9ugnmrj37cjm2q9gsaqss5j9dqwpqmx0tgkzudsseqqcp40jn Because minimum wage is well known to cause unemployment shifts towards the poor... Higher minimum wage means hiring shifts so that fewer poor/low-educated people are hired and more higher-education people are hired. Minimum wage effectively increases unemployment amongst the group of people that you are trying to help (the poor) doing more harm than good.
nostr:npub1kpwlxpzkxfmuxjmzc2wp3rf9vjg0sgydmlhsnrgqr3maf59h86qqdxxzz4 How does minimum wage cause harm to the poor?
Discussion
nostr:npub1kpwlxpzkxfmuxjmzc2wp3rf9vjg0sgydmlhsnrgqr3maf59h86qqdxxzz4 Huh. That might be an American thing? Here, people are reluctant to hire well-educated people for low-skill jobs, because they tend to stay a short time because they'd get bored and move on to jobs that actually suit their level.
nostr:npub1kpwlxpzkxfmuxjmzc2wp3rf9vjg0sgydmlhsnrgqr3maf59h86qqdxxzz4 nostr:npub1ukcz3c3ek9ugnmrj37cjm2q9gsaqss5j9dqwpqmx0tgkzudsseqqcp40jn , good answer, but I will suggest the jury is still out on how much harm it does... Long term more money in the economy means more money trickles down to the poor, and higher minimum wages for sure does put more money into the economy.
nostr:npub1kpwlxpzkxfmuxjmzc2wp3rf9vjg0sgydmlhsnrgqr3maf59h86qqdxxzz4 nostr:npub1ukcz3c3ek9ugnmrj37cjm2q9gsaqss5j9dqwpqmx0tgkzudsseqqcp40jn No, this is poor reasoning.
Setting a minimum wage fixes the problem that people cannot live on that wage. The fact that it introduces another problem doesn't negate the good done.
The next step is to address the problem of displaced, under-educated workers.