I do partially blame minimum wage as that lets companies openly collude on underpaying workers too (well we only legally have to pay X so we’ll pay that much).
To argue that it’s at fault because shitty owners pay only so much diverts from the fact that we needed a law to get them to even pay that much.
Review the conditions and wages before we had laws about them.
Ideally we would put owners who won’t even pay that much on an ice floe and send them to sea.
I just think saying “this is what you should pay unskilled/fungible workers” sets an unhealthy anchor for labour prices.
Minimum wage isn’t tied to specific labour markets, it’s a chore to update, and you have to fight for it each time. We can definitely update it to be meaningfully better.
I also don’t think it’s a good tool for addressing the market asymmetry where humans need food and shelter more than businesses need labour.
Part of the reason I really like the minimum wage laws where I live (us but close to the border) is that the law says the minimum wage is based on a formula, and that formula is just a determination of what cost of living requires that wage to be. It’s simple, doesn’t allow for arguments over routine changes, and keeps it in an effective band.
There are issues with everything else, but at least that part is functional.
To argue that it’s at fault because shitty owners pay only so much diverts from the fact that we needed a law to get them to even pay that much.
Review the conditions and wages before we had laws about them.
Ideally we would put owners who won’t even pay that much on an ice floe and send them to sea.
I just think saying “this is what you should pay unskilled/fungible workers” sets an unhealthy anchor for labour prices.
Minimum wage isn’t tied to specific labour markets, it’s a chore to update, and you have to fight for it each time. We can definitely update it to be meaningfully better.
I also don’t think it’s a good tool for addressing the market asymmetry where humans need food and shelter more than businesses need labour.
I’d like to see the whole thing rethought out.
Part of the reason I really like the minimum wage laws where I live (us but close to the border) is that the law says the minimum wage is based on a formula, and that formula is just a determination of what cost of living requires that wage to be. It’s simple, doesn’t allow for arguments over routine changes, and keeps it in an effective band.
There are issues with everything else, but at least that part is functional.