politics

US federal minimum wage has de-facto been abolished, thanks to inflation.

This often gets missed because it happened slowly and as a result of inaction, but it's still worth talking about.

BTW since I'm sure a lot of people had the same thought, here you go:

Minimum wage is price fixing. 
Keep running it up and soon you will have to force businesses to have "minimal humans employed"  
 
If you really want to redistribute through the government there is no better way than UBI in terms of ethics or efficiency

Not at all surprising that so many of the bottom end minimum wage states were slavery states.

Used to build @kiwi | https://macbudkowski.com/

Indeed. Cultural capture at this epistemic level feels like the next "move" has to be from outside the system, from individuals with differing assumptions & reinforcement mechanics. Especially when defecting is disincentivized by fear (think religious terror about Hell) as has been a go-to mechanism throughout history.

And when people want to raise it, they are called communists 🤷‍♂️

How familiar are you with its origins? B/c imo this is a positive

Founder @ rivet.cloud + host @ WBRT + advisor @  Dragonchain + helping bring to life a marketplace protocol that can decentralize high-QoS RPC infrastructures

Want me to find you an example of a source you consider unbiased based on the same historical fact?

Happy to do so if you insist on doubting the veracity of the underlying basis of the one I used

Do you think they made it up?

yeah that article doesn’t have any bias at all!

How familiar are you with its origins? B/c imo this is a positive 
https://mises.org/mises-wire/racist-history-minimum-wage-laws

A wider issue across the US/EU, which is leading to polarisation, extremism and political instability.

thankfully the market on the minimum side reaches competitive  equilibrium in many places. in others, child labor limits are loosened, raising the importance of that wage limit, but inflation works to suppress that.
ultimately, it's a bargaining contest.

Rio de Janeiro, State of Rio de Janeiro, Brazil

When you go to WORK you get a wage. UBI is stealing from workers.

UBI solves the problem better than minimum wage

Take a look at @dizzyhavoc  on X 
$DZHV 
This crazy dev rewrote ERC20 in bytecode by hand

Stop the financial non sense and market analysis and analyse Dizzy Havoc documents so we can know if it’s scam or unique approach.

Didn't really understand the implications back then but this is the wealthy and powerful enriching themselves at the cost of the less fortunate until the system breaks down, as in all societies, always.

When I was in school (Europe, 1990:s) we were openly and explicitly taught that the main reason for the 2% inflation target was so that real wages could more easily be lowered during financially difficult times, since the workers mostly wouldn't notice.

Horticulturalist. Environmental hand wringer. Open source enthusiast. 

mfer #9187

Men are more apt to choose a job that’s less enjoyable for more pay (e.g. manual labor)

I'm a big fan of no minimum wages. It adds a barrier to jobs that can't exist only because the amount of value that is provided is less than some arbitrary threshold.

The union makes Swedes even poorer. The union disrupts the labor marketplace resulting in misery and unfairness.

Many countries like Sweden don't have a minimum wage and things seem to work out fine

Here's an interesting take. Longevity/average life span as a function of income disparity

😂😂 yea but the economy is just as bad because the employers that started giving more than minimum wage increased their inflation 5-10x more than they increased their wages. America is fucked and I fucking hate it here

Oh interesting. Minimum wage should be  increased based on CPI figure