Does Minimum Wage Increase Help Or Hurt The Appraisal Business?

[Carnivore]

Are you in the one % where you need to be hoarding your wealth and spreading " socialist" fears?

Back to reality - there are business owners and workers, more workers and fewer owners. The owners are fewer but have resources and power to hire, but the more numerous workers have vote power and purchasing power as consumers themselves.

Every functional society sees a balance between the two
Business owners typically want to pay less, workers typically want to earn more. Business owners have wealth and political influence in lobbying, workers have influence through their greater numbers and voting. If workers/citizens vote for a higher minimum wage, that is the "market " speaking. WRONG! You will kill opportunity and wealth creation/accumulation. Do It then. In my area I have been saying that minimum wage is apprx $12.00 an hour...I did another survey(I do it by hand) and its down a little to $11.00 bucks per hour. Reason, Yankees are immigrating to NC in Droves!

The "market" values fast food by consumers buying it, however that same market of consumers does not not agree with the workers being paid so little , if they vote to raise min wage. Which does show a higher $ per hour value for workers in the "market",,,he business owners and franchise owners are their own interest group within the market.

Fast Food Places are competing with each other for workers...They are doing it with Starting Wage per Hour. See Above.

 

[Michigan CG]

If workers/citizens vote for a higher minimum wage, that is the "market " speaking.

You think that is the MARKET working? No. That is people voting for interference in the market to make themselves feel good.

 

[J Grant]

You think that is the MARKET working? No. That is people voting for interference in the market to make themselves feel good.

The people ARE the market !! Who else is the market, a small group of business owners?

Business owners do not function in isolation. They depend on workers to do the labor and consumers to buy the product. The reality is that workers and consumers are the same populace, the majority of the people, and thus they and their interests comprise the market, and how they vote becomes part of the market. .

Govt laws, voting and regulations are part of any market, in all developed nations, unless you want to live in a lawless society such as Somalia ...Warlords or thugs running things by force or corruption is what happens .when laws, regulation, voting by the people is ignored or over turned. .

 

[J Grant]

Fast Food Places are competing with each other for workers...They are doing it with Starting Wage per Hour. See Above.

They do compete . But if they compete in a free or democratic society, workers have the right to vote, organize, solicit public support and thus get a higher minimum wage as part of the market

Or do you define the market as one of sole control by business owners, with workers an indentured servant class, stripped of rights including the right to vote for their interests?

If vote result in a higher min wage, that is not some outside alien "govt" imposing it, that is the market, that is the people, the workers and consumers and customers for products and services, and even some business owners in the mix.

 

[Michigan CG]

Business owners do not function in isolation.

This is the only correct thing you have stated in this entire thread.

Business owners depend on workers and they depend on people to buy their product or service.

If Bob is paying welders $15/hour and Steve is paying welders $20/hour then Bob's welders are going to try to go to work for Steve. Any person opening a welding shop is going to have to compete with Steve. THAT is the market.

Why is Wal Mart now paying truck drivers $100,000? Because there is a shortage of truck drivers. THAT is the market.

Nurse Practitioners graduating with a specialty in pediatrics are getting hired at about $70,000/year. NPs graduating with a specialty in critical care are getting hired at $90,000/year. Why? Because there are a lot of NPs who want to take care of cute babies but not a lot who want to take care of people who just had their arm cut off in a traffic accident. THAT is the market.

In North Dakota McDonald's was paying new hires $17/hour during the oil boom. Minimum wage was around $8/hour. THAT is the market.

 

[Carnivore]

They do compete . But if they compete in free or democratic society, the workers have the right to vote, organize, solicit public support and thus get a higher minimum wage as part of the market

. Or do you define the market as sole control by business owners, with workers an indentured servant class, / stripped of voice or rights including right to vote for their interests?

I am not going to spend the remainder of the day trying to explain my point of view. Workers have a vote, by quitting a job and walking across the street to the same job that pays more. Now labor Supply is what drives wages. If we continue to allow the invasion from the south border, wages will decline for the entry level citizen worker because supply of workers will exceed demand. Now that's what market forces really means to workers; AKA Joe Six Pack with a wife, couple of kids and a modest home nearby.

Frankly I am shocked that you don't have that basic understanding of market forces.

 

[J Grant]

This is the only correct thing you have stated in this entire thread.

Business owners depend on workers and they depend on people to buy their product or service.

If Bob is paying welders $15/hour and Steve is paying welders $20/hour then Bob's welders are going to try to go to work for Steve. Any person opening a welding shop is going to have to compete with Steve. THAT is the market.

Why is Wal Mart now paying truck drivers $100,000? Because there is a shortage of truck drivers. THAT is the market.

Nurse Practitioners graduating with a specialty in pediatrics are getting hired at about $70,000/year. NPs graduating with a specialty in critical care are getting hired at $90,000/year. Why? Because there are a lot of NPs who want to take care of cute babies but not a lot who want to take care of people who just had their arm cut off in a traffic accident. THAT is the market.

In North Dakota McDonald's was paying new hires $17/hour during the oil boom. Minimum wage was around $8/hour. THAT is the market.

I agree, supply/demand for workers is a large part of market forces, and competing for workers can benefit the worker pay scale..

Still, in nations with a functioning govt, laws, polices, and voting compromises part of the market forces . Because there are more workers than business owners: but owners have wealth and concentration of power,s traditionally, workers have countered that by organizing and by voting.result is a balance, when it gets out of balance result is a shrinking middle class and a rising poverty level.

These days technology, automation and outsourcing is wreaking havoc on the traditional worker/owner balance of power, giving greater leverage and wealth to owners - I recall reading recently that 1% of the world's population now controls 80% of wealth and assets..

 

[ucbruin]

"In North Dakota McDonald's was paying new hires $17/hour during the oil boom. Minimum wage was around $8/hour. THAT is the market."

Someone mentioned McDonalds earlier and the price of a burger going up with the increase of minimum wage....

So at $17/hour what did a Big Mac cost in North Dakota during the oil boom?

 

[Terrel L. Shields]

Does that mean it wasn't a viable business and was destined to fail???

Higher wages makes mechanization more practical. Why are cars made with robots now? The Unions negotiated themselves out of a job. I found that out 50 years ago bucking hay bales for 12 cents a bale in a 4 man crew. So my buddy and I bought a hay loader. $300. And went to a 3 man crew. Not only did we save paying the 4th guy, but we were actually faster. Late in the season we even laid off #3 and went to just me and him... Five years later round bales came into being and our job pretty much went kaput.

workers have countered that by organizing and by voting.

That doesn't work when there are no jobs. Or, you get into a huge wage/price spiral. Or, you embrace socialism like Venezuela where people are literally starving and we are sending food aid which their leader claims isn't needed. And socialist Bernie is tweeting because Walmart makes money. Venezuela certainly has an equality of outcome. Everyone starves (in what was once the richest nation in SA) except the elite.

 

[Carnivore]

https://www.thebalance.com/job-creation-ideas-4-ways-that-work-best-3305521

Excerpt "In a free market economy, the government need not do anything when growth is healthy. Capitalism encourages small businesses to compete, thereby creating better ways to meet consumers' needs. Because of this, small businesses account for 65 percent of all new jobs created. The proper role of government is to provide a supportive environment for growth.