Does Minimum Wage Increase Help Or Hurt The Appraisal Business?

[Mr Rex]

Minimum wage?

 

[Peter LeQuire]

How 'bout whatever the employer and prospective employee agree upon?

 

[J Grant]

How 'bout whatever the employer and prospective employee agree upon?

How bout virtually every nation in the world has a min wage or collective bargaining floor , since otherwise it would disrupt the economy? Ever think of the havoc it would cause to abolish a min wage? The bottom wage functions as a floor of equilibrium and comparative basis for labor and wages The few lawless states that exist with no min wage and no regulations are mired in poverty and economic turmoil

Its ironic to see people declare the govt should stay out of regulation (when it comes to worker interests - let " the market" decide) while corporations spend $ lobbying gov't' to influence policies for their interests since they recognize gov't regulations are part of " the market"

 

[Peter LeQuire]

"Lawless states" - by this do you mean states of the United States of America, or do you mean "states" as in sovereign nations of the world.

If the former, even those without a minimum wage are required to comply with federal wage and hour law: if the latter, are you suggesting that they would be come something other than "lawless" if they were to pass a law requiring a minimum wage? And please explain to me how firms that pay more than the minimum wage for the same work other firms pay the minimum do so?

 

[Michigan CG]

How bout virtually every nation in the world has a min wage or collective bargaining floor , since otherwise it would disrupt the economy? Ever think of the havoc it would cause to abolish a min wage? The bottom wage functions as a floor of equilibrium and comparative basis for labor and wages The few lawless states that exist with no min wage and no regulations are mired in poverty and economic turmoil

How would the lack of minimum wage disrupt the economy? How would it create havoc?

Equilibrium? You mean government intervention in the market.

What lawless states are mired in poverty and economic turmoil?

 

[J Grant]

Lawless nations outside the US, also look up American history -..child labor, slavery, indentured servants,..economically that made sense, ( it benefited the land and business owners ) but people decided to regulate against such practices.

 

[J Grant]

How would the lack of minimum wage disrupt the economy? How would it create havoc?

Equilibrium? You mean government intervention in the market.

What lawless states are mired in poverty and economic turmoil?

Somalia, Haiti, close to lawless - give me examples of nation states with weak govt or no govt that are flourishing.

 

[Michigan CG]

Somalia, Haiti, close to lawless - give me examples of nation states with weak govt or no govt that are flourishing.

Lawless nations outside the US, also look up American history -..child labor, slavery, indentured servants,

How about we stick with this country and remember it is 2019?

 

[Randolph Kinney]

The problem with wages is they are inelastic. When demand falls, labor wages do not fall. The result is layoffs of labor to match demand. That happens no matter what the minimum wage is.

Raising the minimum wage beyond what market participants can absorb also results in layoffs and reduced hours.

 

[Gobears81]

I was disagreeing with J Grant early on, but then saw that she thought minimum wage should be about the same level that I did, so it ended up being mostly semantics (though I still think some of her assertions were not entirely correct). But, take unions as an example. I am far removed from a proponent of unions, but believe that the threat of unionization should be there, particularly on the private sector. Public sector? Not so much. But if you read The Jungle and see how unions came about, it wasn't due to employees complaining about being forced to work 10-minutes after their shift is over or a dispute of what their job description actually entails. They were working extremely long hours for a pittance and incurring serious injuries on the job without compensation. There are some countries where these type of practices still take place. Those that feel that free market principles should take precedent in all scenarios might be surprised at how different our country would be without allowing for "artificial intervention" such as unions, and not all of those differences would be for the better.