If they took away minimum wage, you'd see more jobs pop up than you've ever seen. Service and customer service would be the best you've ever seen.
My only problem with Crypto is that it's all computer programed. Therefore, if you internet or power go out, you are pretty much screwed if you are a regular person. One reason why I still like cash, gold, and silver. Cash is far lighter to carry than gold and silver. The other issue with crypto is that its just too volatile right now. If you sold a lambo 6 months ago with Cypto. You'd be down atleast 40% on the crypto you traded for. It needs to be far less volatile before it can be a reasonable currency. Just my thoughts on it. I realize we need to get away from the Fed. But we need something similar to current cash, just backed by something real like gold. If we went back to the gold standard. Gold and silver would boom where it should be. Atleast it would slow this crazy debt we are printing right now.
The majority of Americans do not work for minimum wage. There is already competition for skilled jobs, which is good.
Minimum wage laws create an artificial barrier of entry to the workforce that disproportionately affects young people. This is why you see jobs for entry level marketing asking for a masters degree.
People learn valuable skills and either get promoted, or move to a new company. When minimum wage is in place, companies have less entry level positions and new workers never receive the chance to learn and grow. They remain unemployed.
Ironically, many of these entry level jobs still exist—but people pay for the privilege of working there. They are college internships and most students are charged 4-8 credit hours for real world experience. It is promoted as highly valuable, but only when it’s tied to a university.
If they took away minimum wage, you'd see more jobs pop up than you've ever seen. Service and customer service would be the best you've ever seen.
My only problem with Crypto is that it's all computer programed. Therefore, if you internet or power go out, you are pretty much screwed if you are a regular person. One reason why I still like cash, gold, and silver. Cash is far lighter to carry than gold and silver. The other issue with crypto is that its just too volatile right now. If you sold a lambo 6 months ago with Cypto. You'd be down atleast 40% on the crypto you traded for. It needs to be far less volatile before it can be a reasonable currency. Just my thoughts on it. I realize we need to get away from the Fed. But we need something similar to current cash, just backed by something real like gold. If we went back to the gold standard. Gold and silver would boom where it should be. Atleast it would slow this crazy debt we are printing right now.
Wouldn't taking away minimum wage allow for those businesses to pay peanuts for these jobs?
There would be more competition and opportunities for skilled labor to develop.
The minimum wage laws have led to overall worse employment and earning outcomes.
Thomas Sowell makes a very strong case in his book Basic Economics, with many supporting studies.
More competition how though? Wouldn't people be competing more for jobs that are paying more?
Here a link to some relevant passages:
https://www.creators.com/read/thomas-sowell/09/13/minimum-wage-madness
The majority of Americans do not work for minimum wage. There is already competition for skilled jobs, which is good.
Minimum wage laws create an artificial barrier of entry to the workforce that disproportionately affects young people. This is why you see jobs for entry level marketing asking for a masters degree.
People learn valuable skills and either get promoted, or move to a new company. When minimum wage is in place, companies have less entry level positions and new workers never receive the chance to learn and grow. They remain unemployed.
Ironically, many of these entry level jobs still exist—but people pay for the privilege of working there. They are college internships and most students are charged 4-8 credit hours for real world experience. It is promoted as highly valuable, but only when it’s tied to a university.