Re:The Kenya Financial Diaries Project
by Retric on Thursday January 22, 2015 @11:53AM
(#8930160)
Workers create value.
If the value created is not enough to pay a living wage then the job can probably be done without. Though, if the value created is high, but market conations allow for less than a living wage by exploiting workers then raising the minimum wage rises worker pay without costing a job.
In the end this is only a problem is the US because society subsidizes companies employing low pay workers. The might be created plenty of value, but companies get to extract it not just from workers but also from welfare programs.
If the value created is not enough to pay a living wage then the job can probably be done without. Though, if the value created is high, but market conations allow for less than a living wage by exploiting workers then raising the minimum wage rises worker pay without costing a job.
In the end this is only a problem is the US because society subsidizes companies employing low pay workers. The might be created plenty of value, but companies get to extract it not just from workers but also from welfare programs.