As we become more automated in every way the need for the lower skilled is reduced.
However, there is no need for high unemployment. Many of us here on FR are among the knowledge class and don’t worry about unemployment, however we could always use help and could hire the lower skilled.
Lower skilled employees benefit by learning from the knowledge class, job satisfaction and the opportunity to build their own business. Perhaps they can in turn hire other lower skilled in the future.
It would help if the President would encourage work as a way of life, not only for the lower skilled but also for we fortunate as potential employers.
On the other hand, your burger and fries will be served by polite, well-groomed college graduates.
Obama wants the US to be modeled after the mexican government, hitlery and the wall street elitist crowd want the US to follow the chinese communist model. Both factions want a form of fascism or socialism that guarantees an elite class, and a serf class. And the GOP-e is like the slave brokers looking to make a buck by selling their souls and countrymen to the devil.
Good post!
The best thing you could do for them is eliminate the minimum wage, but you don’t want what’s good for them, do you Barry?
There are a couple of flaws in the arguments made by conservatives regarding minimum wage. The first is that wages paid by employers are based on the value added to a business by that person's work. They aren't. They are based on supply and demand. With tens of millions of illegal aliens taking those jobs, the supply is artificially inflated, therefore the wage paid is artificially lowered. What would it cost to hire a busboy in a restaurant if there were no illegals to hire? It would clearly be much higher.
The second is the idea that the value added by an employee is always and objective amount. But in reality it is often hard to determine. How much value does a busboy add to a restaurant? If you have none, it's impossible to make any money at all. So an owner will pay what he has to. There is no objective standard there. Even if there was, he could afford to "overpay" a busboy, if he is "underpaying" other employees. What matters is the total amount of all costs, vs. the total income of the business.
In short, as long as the people in power in this country systematically undermine the labor market with a flood of unskilled foreigners, minimum wage laws may be the last protection many Americans have against it.