Hey, just FYI minimum wage is absolutely supposed to be able to support a person and if it had kept the pace with inflation it would be $24 an hour today.
668
48.9K
268.8K
Conversation
I mean I think we should abolish the minimum wage so we're heading in the right direction
1
1
There’s a lot that should be done in conjunction; my intuition (could be wrong, stuff is complicated) is that we have too much supply of workers and not enough demand for there to be real competition by companies; we should remove more barriers to entrepreneurship
2
2
Dan Price writes tirelessly on this, and his company is a real life example of paying workers a living wage. You don’t think it’s possible for more companies to do this?
Quote Tweet
I get messages like this every day since our $70k min wage in 2015. Fellow CEOs assume we went under. When you Google our company an auto-fill suggestion is "out of business."
In fact, since the min wage our biz tripled & we're a successful case study at Harvard Business School.
1
1
4
Absolutely it’s possible and it seems important to encourage and support this when it happens. My problem is with force, not with paying people high wages.
1
2
I feel like w/o “force”, (by force, I think you mean a federally regulated min wage?), we would end up with more exploitation, not more Dan Prices. I feel like the question isn’t even one of minimum wage. It’s, “why are there not more Dan Price and Hamdi Ulukayas in the world?”
1
A lot of companies legit don’t have space to do so, particularly larger companies that rely heavily on lower-end labor with small margins. But also I think the best incentive is *competition* - there’s very good pay in highly competitive fields!