Posted on 05/25/2016 7:17:46 PM PDT by MinorityRepublican
A former McDonalds chief executive has warned that raising the minimum wage will spur unemployment as companies will instead employ robots that work for less.
I guarantee you if a $15 minimum wage goes across the country youre going to see a job loss like you cant believe, said Edward Rensi in an appearance on Fox Business Network Tuesday. Its cheaper to buy a $35,000 robotic arm than it is to hire an employee whos inefficient making $15 an hour bagging French fries.
The minimum wage has been a hot topic this spring, with some states and employers deciding to up their minimum wage to $15 an hour in the coming years. California will raise its minimum wage to $15 an hour by 2022. New York City will get to $15 an hour within three years.
(Excerpt) Read more at washingtonpost.com ...
Not to mention you can’t rob a robot. That would put some of the more “enterprising” residents of the ‘hood out of work.
BLOAT!
That all may be true, but it is also irrelevant. The Kiosk has been tried. It failed. Appreciate the effort you put into the reply. Interesting bits you provide.
You're right. But not for another decade or two at current wages.
“The Kiosk has been tried. It failed. “
Failure in the marketplace may be the result of timing or execution. Apple introduced the “Newton” personal digital assistant in 1993. It failed. However other competitive products (Palm for example) were successful. Apple incorporated some of the multi-touch concept and technology years later in highly successful iPad and iPhone products.
Wal-Mart’s first attempt at a combined discount store/food store was Hypermarket USA. This attempt to bring the European hypermarket concept to the USA failed. However, Wal-Mart reworked the concept for the US market and it was reintroduced with modifications as the Walmart Supercenter. Supercenters were a significant driver of growth in the 1990’s and early 2000’s.
The first laserdisc video players, with large platter discs, were a failure in the marketplace. Years later, small size DVD’s were introduced and replaced VHS videotape as the primary medium for distributing video content in the retail and rental markets.
The kiosk may have been tried. Failure of one execution does not mean a new execution will fail.
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