We’ve been covering the minimum wage debate since its most recent flare up a few years ago and our assessment is the same. If the government decrees that a job be paid $15/hour that does not mean that a job which pays less than $15/hour previously will suddenly be WORTH $15/hour. The government can not just upend supply and demand. The market will just adjust to the new reg. For businesses which operate on thin margins,
Minimum wage for a robot? $0/hour. Maximum wage? $0/hour.
Could? It absolutely will, as we have said many times in this space. Good to see The Washington Post coming around.
Fast food jobs are entry level jobs. They are not meant to sustain families. And the harsh reality is that the work does not demand $15 an hour. One can not just use the magic wand of government and make it so. If we raise the minimum wage,
Get ready. The robotization of the workforce (and many other things) will rock the world on par with what happened with the Internet. Likely to an even greater extent, though the two technologies are closely tied of course. The coming revolution will change the way we see the world and each other. Will we make good pets or will we transcend many of the limits which shackle humanity?
Say hello to the not too distant future. In the next 10 years robots will change our world in huge ways. They will upend labor markets and change our politics. Add in the Oculus Rift which makes real live virtual reality yours (I mean it is really, really cool) for $500, and watch out. You think the Internet changed your life? Just you wait.
Amazon drones in the sky. Google drones on the ground. What year was Skynet supposed to become self aware?
You’ve been speeding Dave…
I just can’t believe that anyone would have a problem with an inanimate object issuing them a speeding ticket and extracting revenue for the county without even 1 human knowing what had occurred. Some people will just never get used to Big Brother. Trouble makers.
I made this video almost 4 years ago now and just stumbled across it again. It definitely deserves a re-post. The Liberty and Economics Review was my blog before AgainstCronyCapitalism.org became what it is today, in case you were wondering.