RE: UK to leave EU
July 25, 2016 at 9:06 am
(This post was last modified: July 25, 2016 at 9:07 am by The Grand Nudger.)
It's just too much fun. Labor laws. Now, the idea behind labor laws is to minimize exploitation and reduce poverty. The extent to which they are successful at doing this can obviously be debated, but the intent..I think, cannot. If we loosen those regulations, allowing people to work longer hours for less pay..in what -possible- way could either of those aims be achieved? There will not suddenly appear more hours in the day..and it wouldn't matter if there were..if you had to work two, three, or four times as many hours to achieve parity with current wages.
Now, I know that the idea here is that by doing so we might let the market decide the wage, but this is another naive belief. The market will not determine the wage, the employer will, as is always the case. We can ignore the fact that this incentivizes exploitation and poverty -entirely- and it's still difficult to see what benefit deregulation will bring to "the little guy". That some people who do not currently have jobs will have jobs? The people who do have jobs......what will happen there? Will an employer continue to pay a person minimum wage if they don't have to, and are we actually confident in the ability of the labor market to drive wages up to a level commensurate with the work or approaching a livable wage? If we could count on that, I think, it would have happened long ago.
Now, I know that the idea here is that by doing so we might let the market decide the wage, but this is another naive belief. The market will not determine the wage, the employer will, as is always the case. We can ignore the fact that this incentivizes exploitation and poverty -entirely- and it's still difficult to see what benefit deregulation will bring to "the little guy". That some people who do not currently have jobs will have jobs? The people who do have jobs......what will happen there? Will an employer continue to pay a person minimum wage if they don't have to, and are we actually confident in the ability of the labor market to drive wages up to a level commensurate with the work or approaching a livable wage? If we could count on that, I think, it would have happened long ago.
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