I couldn't convince one of my friends (an MBA graduate) that the minimum wage was damaging to all low-income earners and those outside unions. My explanation was that if an employer could not afford to pay minimum wage (because each individual did not provide that profit level) he would hire less people. This destroys entry-level jobs and the possibility of advancement by getting in on the ground floor. He doesn't believe this at all. He is a firm proponent of the living wage. Ironically, he is in management and very familiar with unions in the golf industry in California. He has seen individuals do horrendous things and not suffer the consequences of lower pay or termination. He is a victim of doublethink, because he is not making the connections of cause and effect. Does anyone know if California is one of the last "strong union" states? I think it may come to an end in my lifetime.
Well that sorta sets the value of an MBA, now, doesn't it?
Simpletons, degree or no degree, will never learn
Ultimately the issue is whether or not human beings are allowed to make their own decisions? A decision on what wage to accept or offer. The minimum wage takes that decision out of the hands of people and places that responsibility into the hands of a stranger.
In Australia, minimum wage is 20 AUD. I'm trying to hiring for a really low skilled desk job, but it's virtually impossible with all the rules and regulations I need to follow. Instead I'll hire an Indian for $5/hr.
Of course the two major parties have been fully complicit in enacting this monstrosity. You would think with unemployment rates as high as they are the supposedly free market Republicans would be pushing to at least lower if not abolish the minimum wage.
Unemployment is being feared by many, especially the college graduates. Actually, there are also positive benefits of being unemployed; you can have more time with your family until the right job comes for you and if you want to keep yourself busy, you can do volunteer works.