Wednesday, August 02, 2006

Minimum Wage...Yeehaa!

I'm somewhat torn on the issue of minimum wage.

On one hand, I feel the market should determine the fair value of anyone's work.

On the other hand, I believe that some sort of safety net to protect those unable to adequately negotiate that fair value isn't such a bad thing.

Where it becomes troublesome to me is determining what that safety net, or minimum wage, should be. Should one be in place, it would only seem appropriate that it be occassionally adjusted for inflation. But the problem is that whenever the government considers raising minimum wage, there are those who believe it should be, in fact, a living wage.

I'm not convinced that minimum wage and living wage should be the same thing. I have a hard time getting my arms around the idea of basing what the minimum wage should be on what it takes to raise a family. At the core, minimum wage is "introductory." Anything above and beyond that is an incentive.

So I ask anyone reading this two questions:

Should there be a minimum wage?

And, if so, should it be a living wage?

(Note: click the title of this post for a good, and appropriate, listen)


At 11:31 AM, August 03, 2006, Blogger elliot said...

Should there be a minimum wage?

Is there a maximum wage?

I believe the answer to both is "no."

In fact, I believe there is no "minimum wage."

There's a pretend minimum wage set by law in America.

And then corporations pay less by takng the work to where people will work for less.

So considering my answer above, I bet you can guess my opinion on the question of a mandatory "living wage."

At 2:58 PM, August 04, 2006, Blogger Phelony Jones said...



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