Minimum wage hike bankrupts company.

[anotherlife]

Yes, and that is why there are laws against cornering any commodity market. Except against cornering the labor commodity. Now why is that?

So you think ALL labor is part of the same market?

You think that the labor of a neurosurgeon is equal to that of a night watchman?

People SELL their labor to an employer of their own free will. The price they get depends on how much their labor is worth in the marketplace

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

 

[Papageorgio]

https://www.foxnews.com/us/restauran...for-bankruptcy

Well, imagine that .

That's what will happen when sources demand that unskilled/uneducated employees get these kind of wages. These current politicians (4 freshman congresswomen) are demanding minimum wages be raised across the board & free health care along with other freebies for all.

Just think if child labor was legal and we could pay them a dollar an hour... think how many jobs could be created and how fast businesses would grow!

Maybe we could pay employees more than companies profit in a year!

That would workout great for America!

**** those greedy paycheck creators!

I know! It’s all good though, a few more years of robot development and then the biz owners won’t even need workers. They can sit on their lazy butts while R2D2 gets our corporate masters paid!!

And we all know business exists to give out jobs. Its why these lazy business owners started businesses!

I did whatever it took to make my business run. People that think business owners sit on their asses all day and do nothing are really stupid people. I took work home with me everyday and even on vacations I was glued to my work. I sold my business and now I go home and relax. I vacation and relax. The owner that I went to work for is up nights, he works on vacations, he makes more money than I do and I am happy I don't have the stress.

 

[Papageorgio]

So you think ALL labor is part of the same market?

You think that the labor of a neurosurgeon is equal to that of a night watchman?

People SELL their labor to an employer of their own free will. The price they get depends on how much their labor is worth in the marketplace

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

That is my point, there is no such thing as a cornered market.

 

[rightwinger]

Our taxes are subsidizing their low wages right now

The more people you want to support, the more it's going to cost. Hiding the cost by forcing employers to pay artificially inflated wages is a false hope.

Right now they are profiting off of artificially low wages

No they are payng wages that reflect the skill level and the contribution employees bring to the business they work for.

In most cases they are, but in some cases there definitely is vulnerability issues where the temptation to exploit labor does arise, and is found on occasion. It best to punish the bad players quickly, and protect the good ones by doing so.

It is not possible to exploit employees who willingly agreed to work for an agreed upon wage.

People sell their labor to an employer. would you say a person selling any commodity exploits those who freely and willingly purchase that commodity ?

Of course it is when they have no other options

Low skilled workers have minimal bargaining power. Makes it easy to exploit them

 

[anotherlife]

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

That is my point, there is no such thing as a cornered market.

Hehehe! Indeed, they don't exist because they are dead. Now let's kill the oil market too the same way. Hehehe

 

[iamwhatiseem]

The more people you want to support, the more it's going to cost. Hiding the cost by forcing employers to pay artificially inflated wages is a false hope.

Right now they are profiting off of artificially low wages

No they are payng wages that reflect the skill level and the contribution employees bring to the business they work for.

In most cases they are, but in some cases there definitely is vulnerability issues where the temptation to exploit labor does arise, and is found on occasion. It best to punish the bad players quickly, and protect the good ones by doing so.

It is not possible to exploit employees who willingly agreed to work for an agreed upon wage.

People sell their labor to an employer. would you say a person selling any commodity exploits those who freely and willingly purchase that commodity ?

Of course it is when they have no other options

Low skilled workers have minimal bargaining power. Makes it easy to exploit them

But are they even being exploited?
As i have stated here, many if not the vast majority of min. wage employers have pretty thin profit margins. They can't just pull $$ out of their ass and pay 30%-40% higher wages. Your average Grocery story is making less than 5% margins. Fast Food can be less than that.
Where does that money come from?
The consumer.
And who is the #1 consumer of fast food?... low income.

 

[hadit]

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

That is my point, there is no such thing as a cornered market.

There is when a government nationalizes something and eliminates any competition.

 

[iamwhatiseem]

THis kid, if you haven't already seen this, is a classic example of the morons arguing for high wages for low skill.
Fast Forward to 3:20 to see this socialist retard talk about this very thing.
It is a shame that people can graduate college and be this dumb about economics.

 

[Papageorgio]

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

That is my point, there is no such thing as a cornered market.

Hehehe! Indeed, they don't exist because they are dead. Now let's kill the oil market too the same way. Hehehe

Not TI or Linear, I am talking about closed markets, they don't exist. closed markets don't exist so your example doesn't exist.

 

[Papageorgio]

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

That is my point, there is no such thing as a cornered market.

There is when a government nationalizes something and eliminates any competition.

Exactly, the government can create closed markets. The private sector cannot.

 

[Papageorgio]

Right now they are profiting off of artificially low wages

No they are payng wages that reflect the skill level and the contribution employees bring to the business they work for.

In most cases they are, but in some cases there definitely is vulnerability issues where the temptation to exploit labor does arise, and is found on occasion. It best to punish the bad players quickly, and protect the good ones by doing so.

It is not possible to exploit employees who willingly agreed to work for an agreed upon wage.

People sell their labor to an employer. would you say a person selling any commodity exploits those who freely and willingly purchase that commodity ?

Of course it is when they have no other options

Low skilled workers have minimal bargaining power. Makes it easy to exploit them

But are they even being exploited?
As i have stated here, many if not the vast majority of min. wage employers have pretty thin profit margins. They can't just pull $$ out of their ass and pay 30%-40% higher wages. Your average Grocery story is making less than 5% margins. Fast Food can be less than that.
Where does that money come from?
The consumer.
And who is the #1 consumer of fast food?... low income.

I agree, the margins are slim to be competitive to attract their target customer which are those that have a low income. High end fast food chains don't exist because the consumers buy on price and what their kids want.

 

[justinacolmena]

Minimum wage hike bankrupts company.
… unskilled/uneducated employees get these kind of wages.

That is more or less tough titties for a company. You cannot hire skilled & educated labor at a minimum wage established by law.

At the end of the day, you "get what you pay for" — or sometimes less, but rarely if ever more.

Workers at minimum wage have no incentive toward efficiency or responsibility — because there is no reward for the positive behaviors that might otherwise have a positive impact on the company's bottom line.

It's just the daily grind, keep your nose clean, don't get in trouble, and don't act like you're trying to do your job better than other workers are doing theirs…

Life sucks, no matter how educated and qualified you are, under America's universal closed-shop EOE//DOE corporate labor union system.

 

[Blues Man]

It is not possible to exploit employees who willingly agreed to work for an agreed upon wage.

People sell their labor to an employer. would you say a person selling any commodity exploits those who freely and willingly purchase that commodity ?

Yes, and that is why there are laws against cornering any commodity market. Except against cornering the labor commodity. Now why is that?

So you think ALL labor is part of the same market?

You think that the labor of a neurosurgeon is equal to that of a night watchman?

People SELL their labor to an employer of their own free will. The price they get depends on how much their labor is worth in the marketplace

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

There is no way to corner the market on any one single skill so no I don't agree with you.

Employers do not create the labor market they buy labor from it.

YOU create and control your own labor market by gaining a set of skills and selling those skills to an employer who is shopping for employees.

People don't create labor markets, because they don't invest into learning skills that no employer wants. Conversely, if an industry consolidates to a single or very few employers in a skill set, then it corners that skill market. For example, this explains why there has been no more Mozarts born in the music industry, but endless low skill pop music reproduction instead.

Employers shop for employees. A person approaches an employer and attempts to fill the need a company has for an employer. The employee cannot force a person to take a job. The employer pays the person for his labor on an agreed upon rate. It is the person who is 100% in charge of what employer he sells his labor to.

The only way your scenario would work is if one employer trained everyone it could in one skill then kept them under contract forever.

And not everyone can be a Mozart. His talent had very little to do with who was paying him to compose music and more to do with his innate musical genius.

 

[Blues Man]

It is not possible to exploit employees who willingly agreed to work for an agreed upon wage.

People sell their labor to an employer. would you say a person selling any commodity exploits those who freely and willingly purchase that commodity ?

Yes, and that is why there are laws against cornering any commodity market. Except against cornering the labor commodity. Now why is that?

So you think ALL labor is part of the same market?

You think that the labor of a neurosurgeon is equal to that of a night watchman?

People SELL their labor to an employer of their own free will. The price they get depends on how much their labor is worth in the marketplace

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

No one can corner the labor market.

People decide what skills they want to acquire and what jobs to apply for. There is no way an employer can force a person to learn any skill or to "corner the market" on one skill.

 

[Blues Man]

So you think ALL labor is part of the same market?

You think that the labor of a neurosurgeon is equal to that of a night watchman?

People SELL their labor to an employer of their own free will. The price they get depends on how much their labor is worth in the marketplace

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

You don't understand that employers are not producers of labor they are consumers of labor. A consumer cannot corner a market.

Can one person corner the market on cars? Not unless he can buy every single car that has ever been made and will ever be made.

See the difference?

 

[Blues Man]

The more people you want to support, the more it's going to cost. Hiding the cost by forcing employers to pay artificially inflated wages is a false hope.

Right now they are profiting off of artificially low wages

No they are payng wages that reflect the skill level and the contribution employees bring to the business they work for.

In most cases they are, but in some cases there definitely is vulnerability issues where the temptation to exploit labor does arise, and is found on occasion. It best to punish the bad players quickly, and protect the good ones by doing so.

It is not possible to exploit employees who willingly agreed to work for an agreed upon wage.

People sell their labor to an employer. would you say a person selling any commodity exploits those who freely and willingly purchase that commodity ?

Of course it is when they have no other options

Low skilled workers have minimal bargaining power. Makes it easy to exploit them

Everyone always has options.

A person can choose to take a job he might not consider ideal but it is 100% his choice.

And the entire point is that no one has to remain low skill for his entire life. If he does that too is his choice

 

[Wyatt earp]

Yep,
Some jobs are only worth so much… Political correctness doesn’t know it’s ass from a hole in the ground when it comes to economics

How much do you pay an employee that makes you all of your money?

None of them do. All the units of an organization contribute to the bottom line. If they don't, they get cut.

Non-answer. Again; How much do you pay an employee that makes you all of your money?

You pay him less than the amount he contributes to the bottom line. The premise of your question is false, because no employee makes a company all of its money.

Without employees the company would fail to exist.

Unemployed assholes like you are a dime a dozen.

.

 

[Dekster]

https://www.foxnews.com/us/restauran...for-bankruptcy

Well, imagine that .

That's what will happen when sources demand that unskilled/uneducated employees get these kind of wages. These current politicians (4 freshman congresswomen) are demanding minimum wages be raised across the board & free health care along with other freebies for all.

If you can’t survive without exploiting low skilled workers, you don’t deserve to stay in business

So you think there should be no entry level jobs, huh. How very clever of you.

 

[anotherlife]

So you agree with me then. If a single employer corners the entire marketplace of a skill, then the value of that will be zero, including the skill of the neurosergon. Therefore the laws that I mentioned above for protecting commodity markets still should apply.

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

You don't understand that employers are not producers of labor they are consumers of labor. A consumer cannot corner a market.

Can one person corner the market on cars? Not unless he can buy every single car that has ever been made and will ever be made.

See the difference?

This is very interesting! Using the car analogy, the labor market is like the horse selling market after the invention of the car. Now that horses are no longer needed, the few that still can sell are few enough to be cornered by one guy, who can buy them all, and re-sell them, or just not buy them at all after all his competitors are bust.

 

[Blues Man]

No it wouldn't, to maintain the market, you still need skill to keep any potential competition at bay.

a cornered market is no longer a market, it is a pre-arranged deal wheel.

Can you give me an example of a cornered market.

Since there is no protection against cornering labor/skill markets, they stop existing pretty fast after they are cornered. But here is an example. Very soon after Texas Instruments and Linear Technologies cornered the power supply market, power supply designers died out, and now you have to go as far as China, to get power supply design support.

You don't understand that employers are not producers of labor they are consumers of labor. A consumer cannot corner a market.

Can one person corner the market on cars? Not unless he can buy every single car that has ever been made and will ever be made.

See the difference?

This is very interesting! Using the car analogy, the labor market is like the horse selling market after the invention of the car. Now that horses are no longer needed, the few that still can sell are few enough to be cornered by one guy, who can buy them all, and re-sell them, or just not buy them at all after all his competitors are bust.

And that is not analogous at all with people and the pool of labor provided by people.

The only way your example works is if one employer trains all the people interested in one skill then keeps those people under contract forever.

So if you wanted to corner the market on auto mechanics you would not only have to train all the people who wanted to be auto mechanics now and in the future and keep them under contract forever but you would also have to convince all the auto mechanics that already exist into working for you forever

So you see it is literally impossible for an employer to corner the market on any skill.