Maximum Utility and Minimum Wage: Otherwise entitled “My Totes McGotes Least popular Post Ever”

Here’s my split on the matter, the issue does have a human face to it.  Low wages are not pretty, and they absolutely suck to subsist on.  Furthermore, economics are not pretty, the science behind the analysis isn’t meant to coddle the data, nor is it meant to support overblown wages either.

Value per wage dollar should be the only determination of an employees wage, and I can just as easily prove someone is being paid too much, as much as one is being paid too little.  It’s also easy to prove when locations are paying large swaths of employees in the same manner.

The minimum wage is a short-term fix at the least, and an excuse to pay employees the bare minimum at worst.  Trust me, I spent many years in front of a grill receiving as many accolades as one can, while being underpaid per my value to the firm based on my wage rate above the minimum.

It may help to raise wages for a great many people in the short-run, but what happens in a year, or five, when the political rancor dies down?

Where I have to thank the +Foundation for Economic Education  , and subsequently bemoan all other “analysis,” is that people are failing to connect this on a personal level, instead falling on partisan lines. With words coming out of the mouth’s of people who, at face value, look more like those paying the wage, and not earning it.  It certainly doesn’t help when Wall Street Joe mentions repealing the wage altogether either.

The wage exists, so we have to work within that construct, but we have to find a way to address systemic low wages, because corporate abuse is equally to blame and that’s something I know from personal experience.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s