The minimum wage, at this point, is a race to the bottom. Globalization and automation are driving down the value of labor. Raising the local price of labor, makes our workers less competitive on the global labor market, and makes starting a business something only the wealthy can do. It gets even more regressive if you are expected to pay for higher education with your own wage labor. It all make the lower majority more risk adverse.
In contrast, replacing the minimum wage with a UBI, makes local labor more competitive on global labor markets, and not only does it make it easier for lower income people to start businesses, but their local community would have more disposable income to support local businesses. Plus it allows people to move away from the gentrified rents that monopolize housing near high densities of jobs.
Right now owning land or financial products, are the fastest growing sources of disposable income. We need to let go of the earn your keep bs narrative, and embrace the reward success while not preventing the growth of others approach.
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The minimum wage, at this point, is a race to the bottom. Globalization and automation are driving down the value of labor. Raising the local price of labor, makes our workers less competitive on the global labor market, and makes starting a business something only the wealthy can do. It gets even more regressive if you are expected to pay for higher education with your own wage labor. It all make the lower majority more risk adverse.
In contrast, replacing the minimum wage with a UBI, makes local labor more competitive on global labor markets, and not only does it make it easier for lower income people to start businesses, but their local community would have more disposable income to support local businesses. Plus it allows people to move away from the gentrified rents that monopolize housing near high densities of jobs.
Right now owning land or financial products, are the fastest growing sources of disposable income. We need to let go of the earn your keep bs narrative, and embrace the reward success while not preventing the growth of others approach.
This is an old cartoon, but a great one.
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