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The Effects of Major Retailers Raising Their Minimum Wages

nber.org

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Re: The Effects of Major Retailers Raising Their Minimum Wages

#31

Post by mmcgaha »

teekert wrote: post #12
pydry wrote: post #7

This paper is a good rebuttal to talking points like this tweet that crop up from time to time: https://i.redd.it/b57t1w5jllb61.jpg (I was trying to look up a similarly awful article referencing EMTs earning $minwage + $2 I saw a while back but googlefu is failing me)

It's shocking how little we pay the people that spend so much time with our kids.

So we all have choices to make, and some people choose to become teachers. Now there are a lot of reasons that people make that choice, but I am sure that money is not one of them. So what happens once they get there that makes them decide they are underpaid? Maybe the problem isn't the money but how they are treated by parents and administration.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#32

Post by dugditches »

stavros wrote: post #14
xyzzy4747 wrote: post #10

When people get paid more, the prices of everything go up, including other people's wages. Inflation is often a self-reinforcing cycle.

This assumes that the company can't absorb the raises.

lots of smaller ones can't in fact.

this also gives rise to ununionized outfits as well. as theyre able to keep wages lower and bid more competitively.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#33

Post by DocTomoe »

bloqs wrote: post #9
pydry wrote: post #7

This paper is a good rebuttal to talking points like this tweet that crop up from time to time: https://i.redd.it/b57t1w5jllb61.jpg (I was trying to look up a similarly awful article referencing EMTs earning $minwage + $2 I saw a while back but googlefu is failing me)

I must be missing something because to me that's literally the point - the minimum wage should cause other, more complex work wages to rise?

If all wages rise (and in turn, cost of living rises accordingly, because now people can afford to pay more rent), nothing will have changed.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#34

Post by leroman »

xyzzy4747 wrote: post #10

When people get paid more, the prices of everything go up, including other people's wages. Inflation is often a self-reinforcing cycle.

According to a fact you just came up with?

Don’t believe it works this way, most money goes to the top earners, raising lower wages should not have that big of an effect as a result.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#35

Post by spamizbad »

ethanbond wrote: post #27
shockeychap wrote: post #15

I found this to be many words with little information. It largely boils down to "when Amazon increases wages, other employers follow suit, to varying extents." There was almost nothing about the myriad of other effects, including things like inflation, effects on already higher wage earners, effects on automation, and more. They touched on the increase in unemployment from competitors, but that was it.

Or the most critical consequence: rent. Rent goes up. Landlords get richer, minimum wage earners go back to poverty. Pretty obvious cycle. High paying employer moves somewhere? Rent goes up. Normal employer pays more? Rent goes up.

Really shows the power land owners have to capture upside.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#37

Post by edoceo »

ethanbond wrote: post #27
shockeychap wrote: post #15

I found this to be many words with little information. It largely boils down to "when Amazon increases wages, other employers follow suit, to varying extents." There was almost nothing about the myriad of other effects, including things like inflation, effects on already higher wage earners, effects on automation, and more. They touched on the increase in unemployment from competitors, but that was it.

Or the most critical consequence: rent. Rent goes up. Landlords get richer, minimum wage earners go back to poverty. Pretty obvious cycle. High paying employer moves somewhere? Rent goes up. Normal employer pays more? Rent goes up.

12 months pass, rent goes up.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#38

Post by teekert »

mmcgaha wrote: post #31
teekert wrote: post #12

Earlier quoted context omitted.

It's shocking how little we pay the people that spend so much time with our kids.

So we all have choices to make, and some people choose to become teachers. Now there are a lot of reasons that people make that choice, but I am sure that money is not one of them. So what happens once they get there that makes them decide they are underpaid? Maybe the problem isn't the money but how they are treated by parents and administration.

The teachers I know are all very "soft" (in a good way, kind, empathic), in it for the kids, they don't complain, and have lot of passion. Anyone from my industry forced into a teachers job would raise hell or leave at these conditions and this pay. Maybe teachers feel stuck? It's normal for them? Idk, it's a complex situation.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#39

Post by jjoonathan »

spamizbad wrote: post #35
ethanbond wrote: post #27

Earlier quoted context omitted.

Or the most critical consequence: rent. Rent goes up. Landlords get richer, minimum wage earners go back to poverty. Pretty obvious cycle. High paying employer moves somewhere? Rent goes up. Normal employer pays more? Rent goes up.

Really shows the power land owners have to capture upside.

The more things change, the more they stay the same.

Re: The Effects of Major Retailers Raising Their Minimum Wages

#40

Post by tinalumfoil »

ethanbond wrote: post #27
shockeychap wrote: post #15

I found this to be many words with little information. It largely boils down to "when Amazon increases wages, other employers follow suit, to varying extents." There was almost nothing about the myriad of other effects, including things like inflation, effects on already higher wage earners, effects on automation, and more. They touched on the increase in unemployment from competitors, but that was it.

Or the most critical consequence: rent. Rent goes up. Landlords get richer, minimum wage earners go back to poverty. Pretty obvious cycle. High paying employer moves somewhere? Rent goes up. Normal employer pays more? Rent goes up.

Rent would be accounted for if they considered inflation.
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