Anorak

Anorak | How to prove that the minimum wage destroys jobs

How to prove that the minimum wage destroys jobs

by | 10th, April 2013

BRITAIN FAIR TIP CAMPAIGN

I KNOW, I know, we’re forever told that the minimum wage doesn’t in fact destroy jobs. It’s a lovely cuddly policy that has absolutely no bad effects at all. Except, if we consider Amazon’s Mechanical Turk marketplace this simply cannot be correct .

Estimates of what workers can earn on these crowdsourced tasks range from about $1.20 to $5 an hour without any benefits. Employers treat them as independent contractors not covered by federal minimum-wage legislation.

The minimum wage in the US is currently $7.25 an hour. We have to assume that the people doing this work cannot find jobs at that minimum wage. For they’d be off earning $7.25 an hour rather than working for $1.25 to $5 an hour if they could.

And we also should assume that these jobs aren’t worth paying $7.25 an hour to have done. If they were then people would be paying that rather than relying upon God Knows Who at the

You have already read 1 premium article for free today
Access immediately the premium content with Multipass

Or come back tomorrow



Posted: 10th, April 2013 | In: Money Comments (2) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink