I wonder what the USA would look like if minimum wage was defined as; two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. The static (both in the nominal and inflation adjusted sense) for minimum wage doesn't make sense imo. Minimum wage should be tied to some level of living (not necessarily a great living, but something ) This guy smh
>two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. My immediate reaction to this statement was.. it's insane? In my opinion it should read 'a single person able to afford a 1 bedroom apartment within an hour of public transport commute.' Otherwise it sounds like you don't think anyone should be able to live anywhere reasonable without roommates?
Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
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Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#222Earlier quoted context omitted.
A universal basic income would have some advantages over a minimum wage. Minimum wage interferes with supply and demand in the labor market, which is why some economists dislike it. UBI moves the supply curve to a different place, but it allows those principles to function.
UBI won’t do anything I’m afraid, that experiment already failed during the pandemic and now we have massive inflation across all assets.
Do you really think this is what is causing inflation? Perhaps there are other facts, such as trillions of dollars of almost zero interest money injected since 2008, massive tax cuts for highly profitable companies (eg AAPL) that result in great payouts to people who are already paying low taxes (long term capital gains), complex interacting forces that moved the cost of a barrel of oil from a low of $20 to over $100?
Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#223Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#224Earlier quoted context omitted.
Exactly. Even the mindset of thinking in "driving" vs. walking or public transport shows a lot.
It is however realistic given the the US's urban layout and population preferences. Also nowhere has succeeded in keeping essential, low paid workers living near where they work - gentrification forces them out.
EDIT: That's what Henry George said. The reason San Francisco land has so much value and the land in an undeveloped part of California has nearly none is the development, meaning the work of developing it, what human hands do to the land to transform it, the construction. You can sprinkle gold on it and nothing, put a bulldozer there (capital) and nothing, send an entrepreneur or economist to look at it and nothing. It's when people work that it becomes worth something.
Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#225I don't think it's an Applebee's exec it's an Applebee's franchise exec. Unless I'm misunderstanding.
Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#226Earlier quoted context omitted.
>two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. My immediate reaction to this statement was.. it's insane? In my opinion it should read 'a single person able to afford a 1 bedroom apartment within an hour of public transport commute.' Otherwise it sounds like you don't think anyone should be able to live anywhere reasonable without roommates?
It’s funny that the ideals of granting everyone “life, liberty and a the pursuit of happiness” are regarded as wisdom, but as soon as somebody tries to ponder of what that might be on the specific, then it’s regarded as crazy.
Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#227Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#228I wonder what the USA would look like if minimum wage was defined as; two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. The static (both in the nominal and inflation adjusted sense) for minimum wage doesn't make sense imo. Minimum wage should be tied to some level of living (not necessarily a great living, but something ) This guy smh
Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#229Rising gas prices mean we can lower wages to keep employees? Outside of the moral implication, this doesn't even logically make sense. People are already facing higher costs, if you pay them lower, they will not work for you, because you know, commuting to work at your place will eat into the budget.
Re: Applebee’s exec urges using high gas prices to push lower wages, sparks walkout
#230I wonder what the USA would look like if minimum wage was defined as; two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. The static (both in the nominal and inflation adjusted sense) for minimum wage doesn't make sense imo. Minimum wage should be tied to some level of living (not necessarily a great living, but something ) This guy smh
>two people being able to afford a 1 bedroom apartment within a 1 hour drive without traffic. My immediate reaction to this statement was.. it's insane? In my opinion it should read 'a single person able to afford a 1 bedroom apartment within an hour of public transport commute.' Otherwise it sounds like you don't think anyone should be able to live anywhere reasonable without roommates?