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Thread: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22 p/h

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    Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22 p/h

    Sen. Warren asked Dr. Arindrajit Dube, who is an assistant professor at the Department of Economics, University of Massachusetts Amherst, Amherst, MA and has done extensive research about a minimum wage increaseís effect on the economy:
    If we started in 1960 and we said that as productivity goes up, that is as workers are producing more, then the minimum wage is going to go up the same. And if that were the case then the minimum wage today would be about $22 an hour. So my question is Mr. Dube, with a minimum wage of $7.25 an hourĖwhat happened to the other $14.75? It sure didnít go to the worker.


    Read more and video @: Elizabeth Warren: Why Isn't Min Wage Keeping Up With Productivity? Should Be $22 p/h - Americans Against the Tea Party

    Cant "raise the minimum wage" my ass. I have a sudden feeling that all that money isnt going to the workers... I feel like its going to the CEO's the management that 1%... Productivity up and wages have remained the same. We have always been told is that in the American dream if you work hard youll make it, youll get paid more. American dream? More like the American myth.
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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    If minimum wage were $22/hr, a head of lettuce would cost $10. The cost of almost everything would go up. In the end, $22 wouldn't buy any more than $7 does today.

    Unless you want to institute price controls as well, which historically never worked out so much...
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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    I think minimum wage is fine where it is at. $22/hr is insane and far to high in today's economy for minimum wage worthy labor.
    When the debate is lost, slander becomes the tool of the loser. -Socrates

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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    Quote Originally Posted by digsbe View Post
    I think minimum wage is fine where it is at. $22/hr is insane and far to high in today's economy for minimum wage worthy labor.
    I agree that $22/hr is "insane" but i disagree with that you think minimum wage is fine where its at. We were always told the harder you work the more money you will get. Workers productivity is up people are working harder and longer, but we are not getting the benefits of our labor instead its not the people who are working harder wages growing, its someone elses..
    Just a democratic-socialist in the heartland of America.CHECK OUT MY TUMBLR(BLOG)HERE "Life is beautiful. Let the future generations cleanse it of all evil, oppression, and violence, and enjoy it to the full."

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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    Quote Originally Posted by TheDemSocialist View Post
    I agree that $22/hr is "insane" but i disagree with that you think minimum wage is fine where its at. We were always told the harder you work the more money you will get. Workers productivity is up people are working harder and longer, but we are not getting the benefits of our labor instead its not the people who are working harder wages growing, its someone elses..
    If you work harder you may get raises and promotions. The American dream is not a promise. One of the problems I think is that people think they are owed a higher wage because a guy at the top is making millions. If someone is not content living on minimum wage they should learn a skill or obtain an education that allows them to compete for jobs that pay better and require more than what minimum wage labor demands.
    When the debate is lost, slander becomes the tool of the loser. -Socrates

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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    Quote Originally Posted by digsbe View Post
    If you work harder you may get raises and promotions. The American dream is not a promise. One of the problems I think is that people think they are owed a higher wage because a guy at the top is making millions. If someone is not content living on minimum wage they should learn a skill or obtain an education that allows them to compete for jobs that pay better and require more than what minimum wage labor demands.
    Plausible. And you only get what you pay for: If you pay someone $7.50 an hour, that's what you're going to get. The Right needs to lose 2 illusions: 1) That you can get something for nothing, and 2) People go to work because it makes them feel personally "fulfilled"....................

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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    Quote Originally Posted by TheDemSocialist View Post
    I agree that $22/hr is "insane" but i disagree with that you think minimum wage is fine where its at. We were always told the harder you work the more money you will get. Workers productivity is up people are working harder and longer, but we are not getting the benefits of our labor instead its not the people who are working harder wages growing, its someone elses..
    Show me how a McWorker is working any harder. Much of the productivity increase in due to computer use and other automation. It is actually eaiser to run a computerized/scanning cash register. Some jobs got a bit harder, yet most got quite a lot easier. In many cases, that increase in prodictivity causes fewer workers to produce more, in those cases the trade off would be higher wages for some and no jobs for others. In times of high unemployment, more people are willing to work for less pay, so it makes no sense to offer more than is required to get a queue of qualified applicants.
    ďThe reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.Ē ― George Bernard Shaw, Man and Superman

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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    Quote Originally Posted by TheDemSocialist View Post
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    Read more and video @: Elizabeth Warren: Why Isn't Min Wage Keeping Up With Productivity? Should Be $22 p/h - Americans Against the Tea Party

    Cant "raise the minimum wage" my ass. I have a sudden feeling that all that money isnt going to the workers... I feel like its going to the CEO's the management that 1%... Productivity up and wages have remained the same. We have always been told is that in the American dream if you work hard youll make it, youll get paid more. American dream? More like the American myth. [/INDENT]
    doesn't much matter what you "feel"... what "is" is vastly more important

    a few assumption being made by you and Elizabeth... first, that it's proper to base minimum wage on overall productivity.... overall productivity does not inherently speak to workers working harder... in this day in age, productivity increases can be tied to human labor , to technology ( technology ain't cheap either), and to efficiencies.
    2nd, that increases in productivity equates to an increase in profit that goes right into a fat cats wallet...an assumption that negates costs , other than labor, that firms must shell out for.
    for a quick example.. did they take into consideration increased compliance costs from 1960 until now ?... obviously they did not, or they would not be claiming that extra 14 bucks an hours goes to the fat cats.
    I've been in business for 10 years... and my compliance costs have increased dramatically...what used to take up about 90 hours annually, now takes a few hundred.... that is time not spend on commerce, time that costs money, time that an employee has to spend doing the work, time we must compensate the employee for
    overall compliance costs( all levels of government) for 2011 ,for me, was a touch over $400,000 ( haven't done 2012 yet).. not including mandated expenditures such as workers comp insurance and taxes.
    400k ain't nuthin' to sneeze at

    now, I don't do minimum wage workers, so the impact minimum wage has on my business is hard to determine, but my point is that there is some complex , and forgotten about, factors involved in business( forgotten only by those in government)... god I wish it was as easy as factoring productivity against human labor and calling it a day, but it's just not so... not even remotely close.

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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    Quote Originally Posted by Bonzai View Post
    Plausible. And you only get what you pay for: If you pay someone $7.50 an hour, that's what you're going to get. The Right needs to lose 2 illusions: 1) That you can get something for nothing, and 2) People go to work because it makes them feel personally "fulfilled"....................
    That's why I support being able to fire employees. Employment is like a contract, you agree to work at the starting wage and do the duties. If you feel the pay is unfair or your work burden is too high then bring it up with your employer, who can chose to not act upon your complaints, or quit and find another job. They are paying wages, employees should be meeting work expectations. If your pay is too low then there is an incentive for good employees to leave and work at other establishments that pay better.

    I think the left needs to lose several illusions with the largest being that just because a CEO or manager makes good money that it is somehow owed or should be redistributed to the employees at the bottom. Let the market drive wages, not the government.
    When the debate is lost, slander becomes the tool of the loser. -Socrates

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    Re: Elizabeth Warren: Why Isnít Min Wage Keeping Up With Productivity? Should Be $22

    It's complicated but one of the main issues is our fiat currency. Real wages and productivity tied wages decoupled after severing ties with the gold standard for good.

    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

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