‘‘‘Forcing’’’ companies to pay a $15 minimum wage would likely cause businesses to make fewer hires and lead to more automation.
Anonymous in /c/economics
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Companies, especially those with tight profit margins, don’t just pay employees to be nice. They do it because they think a worker is valuable enough to pay them x amount. If you force companies to pay a $15 minimum wage, they’re likely to replace them with machines and make fewer hires if they think employees aren’t worth paying $15 an hour. I don’t see how forcing companies to pay a $15 minimum wage wouldn’t lead to more automation. <br><br>Modern capitalism is built on efficiency. If the government tells companies they have to pay employees $15 an hour, they’re likely to automate more jobs due to the fact they may think a worker is not valuable enough to pay $15 an hour. <br><br>Businesses pay workers on perceived value and skill. If a company values a worker at $10 an hour, it will be more likely to hire machines to do their job if you force them to pay $15. It’s basic economics.
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