justification of minimum wage rates.

[Supposn]

Reduction or elimination of the minimum wage rate’s purchasing power’s net detrimental to our economic and social wellbeing:

To the extent of its purchasing power, the minimum wage rate reduces incidences and extents of poverty among the working-poor and their dependents.

Minimum wage rate’s purchasing power prevents creation of jobs that do not justify the purchasing power of the minimum rate. Regardless of the effective minimum rate, there will be less desirable or unacceptable job seekers. (if there were no legally definite minimum, this would remain the case for the markets’ determined indefinite minimum rates.)

Reduced purchasing power, (i.e. the “real value”) of the minimum wage enables commercial performance of tasks that previously did not justify the costs of minimum rate wages. Paradoxically, although more jobs are created, reducing the minimum greater increases the pools of employees and unemployed workers. The percentages of those unemployed are not reduced; percentages and numbers of unemployed seekers of lower wage rate jobs are particularly not reduced.

Respectfully, Supposn

[spacemonkey]

People already live in the street, nobody really cares if they can't buy the latest phone or game. They don't even care if they have a sanitary place to take a crap.