Earlier quoted context omitted.
I recently got into EconTalk and burned through a few of their podcasts [0]. Roberts mentions his 'distain' for the minimum wage a fair bit during the shows. Many economists do not like the minimum wage at all for many reasons. However, with these gig economy jobs, there effectively is no minimum wage. Yes, things are murky here about the definitions of wage, employee, boss, etc. But the effective hourly rates are al…
> Many economists do not like the minimum wage at all for many reasons. Usually it boils down to simply believing that "standard of living" is a silly concept. It's true, the demand for labor is essentially infinite, but having a minimum wage effectively puts a cap on the number of actual jobs. If people could hire maid services for $1 per hour, there'd be a lot of maid service jobs and nearly everyone would have cle…
Why do you assume there are enough maids to clean everyone's house at such a low rate?