WWGWD
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- Sep 26, 2012
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Re: Elizabeth Warren: Why Isn’t Min Wage Keeping Up With Productivity? Should Be $22
I think you might be devalueing the productivity of the average worker. Yes, technology has had a HUGE influence on the rise in production. However, so has the increase in knowledge. That increase has positively effected the efficiencey of labor employees that often times goes very unrecognized.
We have seen productivity rise because of technology but that DOES NOT mean that labor is now worth more. What has happened is that the job market for unskilled labor has retracted in manufacturing and increased in service industries. Skilled labor is still in high demand but that is generally not effected by minimum wage.
I think you might be devalueing the productivity of the average worker. Yes, technology has had a HUGE influence on the rise in production. However, so has the increase in knowledge. That increase has positively effected the efficiencey of labor employees that often times goes very unrecognized.