03-06-2019, 04:49 PM
(03-05-2019, 08:56 PM)Beaker Wrote: Just to add to the discussion, here is an article from CNN about Bernie and the $15/hr wage plan. A similar plan in S. Korea really had a negative impact on small and medium sized businesses.
https://www.ccn.com/bernie-sanders-minimum-wage-plan-wont-help-poor-ask-south-korea
The Korean economy and society is so different from ours it is hard to make direct comparisons.
Also this study claimed that minimum wage increase was the reason college graduates could not get jobs. That makes no sense because college graduates should not be getting minimum wage jobs.
Production is driven by demand not supply. If the demand for the service/product does not change then businesses will not cut back on production and go out of business because of an increase in wages. Does MacDonalds cut back on how many hamburgers they make when the price of beef goes up?
