SamuelRSmith on 04 February 2016
| MikeRox said: Why not watch what happens in the UK now that the evil right wing Tories are forcing a minimum wage increase up to a "Living Wage". Quite a few businesses are already saying it will force them to have to reduce staff. See what impact it has on UK employment and then decide if it's a good idea to implement jumps in minimum wage. Personally, I don't see how it can lead to much of anything other than jobs being relocated to cheaper countries, staff reductions and increased inflation. But at the same time, that was argued about when a Minimum Wage itself was brought in and it didn't materialise that I can see. It did however mean that the disabled population have generally been forced to rely on state handouts. |
It's always impossible to read empirical data in the economy, because of the huge number of variables at play. Job will be lost because of the minimum wage hike, but other factors may create even more jobs completely offsetting. It's why economists are so rarely wrong, even when they always are.
