Re:McDonald's Can't Figure Out How Its Workers Survive on Mi...
by makomk on Wednesday July 17, 2013 @09:12AM
(#6057441)
Now imagine if we tried to solve the problem of unemployment the way libertarians want: by abolishing minimum wage restrictions altogether. If minimum-wage jobs dropped in wages by as little as 25%, their employees would have to work for 100 hours a week in order to survive - as the price of labour at the bottom of the market goes down, the demand has to go up as people are forced to work longer. The libertarian proposal makes no sense and yet they carry on making it.
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