Re:What harm do minimum wages do?
by chii on Wednesday August 19, 2020 @11:45PM
(#24219672)
> what does labor get when there are temporarily low or negative profits?
good question - the current system ensures that labour gets paid, regardless of profits being negative or not (until the company collapses). This is enshrined into law - you cannot leave wages unpaid, and it sits above creditors in seniority.
good question - the current system ensures that labour gets paid, regardless of profits being negative or not (until the company collapses). This is enshrined into law - you cannot leave wages unpaid, and it sits above creditors in seniority.