Refuting Robert Reich on the Minimum Wage Debate: Why Minimum Wage Should Not Be Raised

Refuting Robert Reich on the minimum wage is not difficult when one understands the laws of supply and demand relative to the labour market and employer relationship. I have explained why minimum wage should not be raised numerous times with the same argument against the likes of Thought Slime and even Second Thought.Show more

Robert Reich seems ignorant of the fact that business owners simply find ways around the higher minimum wage by compensating for paying out the higher wage. Like I stated and I reiterate, the wage of the employee is the price to the employer and an employer has to ensure that the value for what they're getting is greater than the cost. To elaborate, an employer will not hire someone for $15/hr to flip $5 burgers because they aren't worth that, the cost of $15/hr doesn't justify flipping $5 burgers.

Like I've mentioned before, in the laws of supply and demand relative to wages, entry level workers are in large supply, therefore, there is low demand from employees, it is an entirely different story when companies have to compete for skilled-labour. This is why socialists can't understand for the life of them why a top professional sports player gets paid thousands, but a doctor or nurse gets paid much less.

Regardless of how often it fails and has failed, they will never listen. Only when it is already too late and people are left in a desperate state will people listen.

*California Town Sees Businesses Vanish Following Minimum Wage Hike:*
https://fee.org/articles/california-town-sees-businesses-vanish-following-minimum-wage-hike/

*$15 Minimum Wage Laws Are Wiping Out Jobs in New York and Illinois:*
https://fee.org/articles/15-minimum-wage-laws-are-wiping-out-jobs-in-new-york-and-illinois/

*Why McDonald’s Gave Up the Minimum Wage Fight:*
https://fee.org/articles/why-mcdonald-s-gave-up-the-minimum-wage-fight/

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