What harm do minimum wages do?

Re:What harm do minimum wages do? by nucleardog on Wednesday August 19, 2020 @04:51PM (#24216263)

>> The labor market is not a free market: companies have more power in negotiation, they have more information and, most important of all, they can deal with a job opening not being covered most of the time. Workers can't usually live too much without finding a job.

> The labor market is a free market. If you don't agree the employer offer is fair, you don't have to accept.

You disagreed with him while not actually addressing his point at all. Care to elaborate how you think he's wrong here?

[ Parent | on HN ]

Re:What harm do minimum wages do? by jsmith99 on Wednesday August 19, 2020 @04:58PM (#24216359)

They are arguing about semantics. The labour market is a free market but not a totally efficient market as some participants use their power over demand or supply (huge corporations, unions) to drive different outcomes to a perfectly competitive market where all participants are price-takers.

[ Parent | on HN ]