Comment on California Loses Nearly 10,000 Fast-Food Jobs After $20 Minimum Wage Signed Last Fall
wintermute_oregon@lemm.ee 6 months agoI am not a huge fan of minimum wages. Their history is racist and I think they hold the market back. If we didn’t have a minimum wage, people could negotiate better.
realcaseyrollins@noauthority.social 6 months ago
@wintermute_oregon Eh. From what I remember, they were definitely needed at the time they were introduced, and I think getting rid of them will lead to the same problem today.
A better practice would be to keep the minimum wage static, and then stop contributing to inflation, although to be fair to #California, that problem is caused largely by the federal government, not the state itself.
wintermute_oregon@lemm.ee 6 months ago
They were introduced to prevent black people from getting jobs over white people by having a lower pay. That is the history of the minimum wage.
realcaseyrollins@noauthority.social 6 months ago
@wintermute_oregon I'm not seeing anything about that.
This lines up pretty well with my understanding of how minimum wage came about: https://www.dol.gov/general/aboutdol/history/flsa1938
wintermute_oregon@lemm.ee 6 months ago
mises.org/…/racist-history-minimum-wage-laws