From: rhinoceros (rhinoceros@freemail.gr)
Date: Sun Oct 26 2003 - 17:59:14 MST
[Lucifer]
That isn't surprising considering the minimum wage only removes employment opportunites from the non-skilled and the poorest of the poor.
[rhinoceros]
When there is a big enough pool of unemployed waiting at the gates, it is reasonable that the girl behind the counter of the fast-food who won't work for less than "minimum wage" will be replaced by someone who will. This seems to be good for McDonalds and its competitiveness.
True, some of the people who will find jobs will be from "the poorest of the poor". But I don't see how or why any new jobs will be created for them. What market potential will the investors see in such a situation? Will McDonalds sell cheaper after that? Will residence, food, clothing, or imported goods get any cheaper? Who is going to benefit?
On the other hand, I can see how the purchasing potential will be impaired if new jobs are not created and competitiveness is improved at the expense of the well being of the people.
Some online studies show a possible decline in employment of the youth when a minimum wage is set, depending on the employment social policies of the particular country. But we still have to make sure that they are talking about a wage for living and not about pocket money.
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