W Medieval doctors bled their patients with leeches. Far from improving
their condition, it left them worse off. Raising the wages of fast-food
workers to $15 an hour would produce similar results for those the
proposal is intended to help.
In America, minimum-wage workers are better paid than the average worker in Mexico. Why? It’s not because U.S. employers are more generous than their Mexican counterparts. Nor do Americans somehow deserve better pay.
American minimum-wage earners make more because they produce more. Better education and greater capital investment make American workers more productive, raising their earnings.
Competition forces businesses to pay workers according to their productivity. If companies pay less, their employees will jump ship to competitors. And if they pay workers more than they produce, they go out of business.
http://www.kansascity.com/2013/09/19/4493621/a-higher-wage-will-force-chains.html
In America, minimum-wage workers are better paid than the average worker in Mexico. Why? It’s not because U.S. employers are more generous than their Mexican counterparts. Nor do Americans somehow deserve better pay.
American minimum-wage earners make more because they produce more. Better education and greater capital investment make American workers more productive, raising their earnings.
Competition forces businesses to pay workers according to their productivity. If companies pay less, their employees will jump ship to competitors. And if they pay workers more than they produce, they go out of business.
http://www.kansascity.com/2013/09/19/4493621/a-higher-wage-will-force-chains.html
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