Re:Alone on the Open Road: Truckers Feel Like ‘Throwaway Peo...
by acover on Monday May 22, 2017 @07:24PM
(#14397660)
I'm not being precise. I do not have the expertise to debate this.
When I talk about the minimum wage, what really matters is what that income can buy you. Rather than discussing nominal wage and associated costs let's just combine them and talk about real wages.
Clearly there is a point where a higher minimum wage (real) is infeasible and detrimental.
In my opinion there is a wide range of minimum wages (real) that raise the welfare of those whose skill is in excess supply.
When I talk about the minimum wage, what really matters is what that income can buy you. Rather than discussing nominal wage and associated costs let's just combine them and talk about real wages.
Clearly there is a point where a higher minimum wage (real) is infeasible and detrimental.
In my opinion there is a wide range of minimum wages (real) that raise the welfare of those whose skill is in excess supply.