Minimum wage-what is the purpose of this legal price?

Question

Assess its impact on the market for labor? and evaluate the extent to which it achieves its purpose.

Answer 1

It's socialism, it only breeds a moronic mentality and it's unconstitutional. There is no reason why consenting adults should be forbidden to enter into a private agreement concerning the legal activity of work, according to MUTUALLY AGREEABLE terms.

The Moronic Minimum Wage has wiped out a lot of apprenticeship and learn by doing programs, so that young people are now forced to pay for additional schooling.

Now I know this usually incurs a lot of thumbs down, but it's only because people have been brainwashed by socialism, and they don't understand why it's bad...like with Demo-style socialized medicine.

Minimum wage debilitates people. BUT... if you want it, then why not make it $15 an hour and drive virtually every small business owner out of business, including possibly yourself? Why not have government-mandated pricing of goods and services? Why stop at minimum wage? Why?? And also why not have the government help you after going to the bathroom?

Also, why not have a minimum bid for eBay auctions that is mandated, so that the spirit of the auction becomes eliminated?

Please read:

http://www.associatedcontent.com/article...

Answer 2

It also protects employers from using your employee's as

"slave labor." <}:-})

Answer 3

It's intent is to prevent a form of slavery where someone is paid so little because they lack skills that all power passes over to the business owner and given their lack of personal power effectively are forced into indentured servitude or slavery, but through the legal guise of employment.  It lowers everyone's wage and creates unemployment.  People of marginal skills are kept out of the labor force and because they cannot get on the job training fall further and further behind their peers placing them in a cycle of ever increasing poverty.

Answer 4

so your boss wont give you too little

Answer 5

Minimum Wage is the "base" legal wage paid to employees. It's impact on the Market for Labor is to increase spending when it goes up. The real purpose for a minimum wage is so that people can continue to survive while inflation drives prices up.

Answer 6

To protect the people from dirty greedy businessmen,  if I had to guess.