Re:What harm do minimum wages do?
by bravo22 on Wednesday August 19, 2020 @11:02PM
(#24219423)
Minimum wage creates distortions. For example industries that are labour heavy are impacted disproportionately to others that are more automated.
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Automation is not a fixed thing. Many industries look to be people heavy but can rapidly swap, ie taxi cabs in a driverless car world. Speeding that up seems like a net social and economic benefit if we don’t need to worry about structural unemployment.