Isn’t it interesting that we think that some government entity can best decide what is the appropriate minimum wage for every organization in the country.
Markets are different in every part of the country.
Let the market decide.
Organizations and employees should best decide what the clearing wage is for every job.
Organizations would be forced to recognize employee skills.
Employees would recognize the importance of their skills and productivity and the importance of improving their skills and learning to negotiate their wage.
It is interesting that governments and central banks do everything possible to increase the cost of living but markets often lag in letting wages adjust, often because of minimum wage laws.
Markets will expand and contract. An economy with no wage laws will adjust on its own at a faster rate and let markets clear.
Gregory Gwin
gregdgwin@yahoo.com
