Economics: Minimum Wage, Who Gets Hurt?

[Speaker to Animals]

But I want automation. I want to be able to purchase an iced latte without some disgruntled millinneal feminist spitting hepatitus C into my drink.

[DBTrek]

But I want automation. I want to be able to purchase an iced latte without some disgruntled millinneal feminist spitting hepatitus C into my drink.

They have pretty advanced coffee vending machines on the Microsoft campuses that can dispense a variety of drinks at the touch of a button. Even the antiquated FAA Headquarters had less sophisticated models of these automated coffee vendors.

So ... if you’re a barista with big ambitions of living well once $15 minimum wage kicks in I’ve got bad news - you may want to look at getting into vending machine maintenance and repair.

[SuburbanFarmer]

If we went to 15 dollar minimum wages, most fast food restaurants would be filled with pay/order kiosks and maybe two guys producing the food. Eventually the would get around to automating even the cooking.

Not seeing a downside here, unless they skimp on the product (which they always will).

One annoyance would be that there's nobody to inform of their cheap crappiness, but nobody's listening now either.

[SuburbanFarmer]

If that option were cheaper than $7.25 per hour we'd have it now.

I think people lose sight of the fact that the unskilled labor supply is increasingly losing its value as automation becomes a cheaper alternative. They're fighting for a 206% raise at a time when the pressures of automation are driving the costs of performing their jobs backwards towards zero.

Bad fight to get locked into.
I'd suggest folks find a skill, or preferably skills, and remove themselves from the pool of people who have to worry about the future of minimum wage.

That's the problem though. We ALL have to worry about the future of minimum wage, because of the effects on inflation.

If my salary goes from 8x to 4x min-wage, then I need a raise, because my groceries, gas, and shoes are about to cost more. This will happen all the way up through the middle class. Again, a great thing, if you get the raise. If not, then you're effectively losing income for more expensive cheeseburgers, and unemployment.

[DBTrek]

I’ve often thought the same about UBI. You think the small segment of the workforce earning minimum wage is going to hurt you with wage increases, what is handing *everyone* with a pulse $1800 a month going to go?

How is that possibly going to shake out other than things costing what they do now, plus prices/inflation taking into account that everyone now has $1800 a month?

It defies logic, and yet ... the proponents of the idea only grow stronger.

“If we raise minimum wage then other jobs need pay increases too, otherwise rising prices whacks us”

“If we give anyone who asks a home loan, housing prices become astronomical”

“When we give federal student loans to pretty much everyone, the cost of education skyrockets!”

“Hey, I have a great idea everyone. Free basic income for everybody, what could go wrong?”

[SuburbanFarmer]

It’s far from a tiny portion making min wage. I’m on my phone, but wild-ass guess would be 30% of The labor force.

[Fife]

[Hanarchy Montanarchy]

I predict, in short order, the vast majority will be making all their income delivering Prime packages and UberEats to each other while praying they can monetize their cringe-worthy YouTube channels.

Not the worst possible future, I guess.

[Speaker to Animals]

It’s far from a tiny portion making min wage. I’m on my phone, but wild-ass guess would be 30% of The labor force.

More like 1-3%, depending upon how you count it.

Minimum wage issue is a political red herring.

I wouldn't mind raising it because it will usher in new automation, though.

[SuburbanFarmer]

It’s far from a tiny portion making min wage. I’m on my phone, but wild-ass guess would be 30% of The labor force.

More like 1-3%, depending upon how you count it.

Minimum wage issue is a political red herring.

I wouldn't mind raising it because it will usher in new automation, though.

We should probably get some actual sources, at some point lol.

I know it’s more than that though.