So we can all be ready for it...when is this devastating and powerful strike supposed to take place?
Poor planning there! Someone needs a better coordinator.It was on Thanksgiving day. They are planning on doing it again on Christmas.
Good post. Very thoughtful.I wouldn't recommend doubling minimum wage overnight. That would be foolish, even for people who think it is doable.
However, I think that we should experiment with it. Maybe raising it 10% per year until the increase starts to either cause an inflation rate that is higher than the feds target rate, or until the increases start to reduce job opportunities. That could happen after the first increase, or maybe never. Who the heck knows? Regardless, eventually we would discover the "economically optimizing minimum wage".
In theory, it's possible (though not likely), that we could increase minimum wage up to the average productivity per worker (GDP/workers), and thats something around $50/hr. Realistically, there are socioeconomic reasons that everyone shouldn't make the same wage, thus the "economically maximizing" minimum wage is probably far less than that. We really have no clue what it is because we have never done much experimenting with it.
Based upon actual economic history, it's likely that it could be at least $10.50 an hour, because thats what it was back in the late 1960's. There is also some evidence that it may be as high as $16/hr, like it is in Australia (which has a faster growth rate, lower unemployment, and lower poverty level than the US). I just wouldn't risk our economy with those types of jumps all at once.
They could eat the cost of raising wages to $15/hour and still make billions in profit. Somehow. I think they'd live.
It would be interesting to crunch the numbers on this. How many employees does Micky have? How many hours a year do they work? Multiply that by $7.00 subsidy per hour and there goes all the profit I bet and possibly even more.
Not to mention, but a ton of McDonald's are franchises...so they are privately owned.
Yeah we discussed that but Deuce seems to think Micky central should subsidize the franchises to the tune of 7 bucks an hour per employee with their "exorbitant" profits. I bet if you crunched the numbers on this their would be no profit at all and possibly would even bankrupt the company.
The most expensive part of that flimsy burger from your local fast food joint isn't what you put in your mouth; it's the human hands that put it together. But this robotic burger-maker that preps, grills, and assembles your Royale with Cheese—automatically—may soon replace human line cooks altogether while saving the fast food industry billions.
This Robo-Griller Can Flip 360 Burgers an Hour
If they could reduce workforce they'd do it already.
They have in countries where the cost of labor gets to a point where it is more beneficial to go with automation.
The desire to do so here, where the workers only make $7 to $8 per hour, just isn't there.
Get to labor prices like they have in Euro and Aus, they will.
Do you have the numbers on that or is this just speculative?
Fast Food Workers To Strike In Austin, 100 Cities Nationwide Today - keyetv.com Austin News, Weather, Traffic KEYE-TV Austin - Top Stories Phew, I'm glad that I bagged my lunch to work.:shock:
Or, if you would prefer an academic online source. Go ahead and skip on down to page 699.
did this paper pass the peer review process of a economic journal (that is respected)? I think not.
:lol:
NECRO-THREAD NEEDS BRAINS!!!
Citation: History of Political Economy 35:4 © 2003 by Duke University Press.
So... yeahIt did.
NECRO-THREAD HAS FOUND BRAINS IN CPWILL'S POST THAT IT LACKED IN KUSHINATOR'S POST. NECRO-THREAD HAS FED AND WILL SLUMBER NOW UNLESS KUSHINATOR NEEDS TO REPEAT IDIOT INCANTATION TO KEEP IT UNDEAD
:lol:
I will await your evidence that it is neither respected nor peer reviewed without holding my breath [emoji41] [emoji6]A history journal centered on economics. My point stands.
I will await your evidence that it is neither respected nor peer reviewed without holding my breath [emoji41] [emoji6]
It is a history journal.
... Still waiting...It is a history journal.
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