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How much does the CEO of McBurger make?
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More not because as the wages at the bottom are artificially inflated, every wage above them needs to be as well in order to be just as attractive as before.
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Talked about this in a paper I wrote today. Minimum wage hikes directed at alleviating poverty, only make it worse.
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It just raises salaries of the untrained worker temporarily. Then the cost of living goes up and everyone else needs a raise to stay afloat. Then layoffs begin for everyone.
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not only that - now each remaining employee do 50% more work
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If the cost goes too high where consumer prices cannot be raised to offset the wage increases—hello robots.
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Kiosks are already available at McDonald's and Carl's Jr. They will become more and more prevalent.
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We haven't done this yet, BUT we are still allowing CEO's to hire FOREIGNERS instead of Americans ( H 1-B Visas) AND allowing CEO's to FIRE their American employees sending those jobs overseas (Outsourcing) Why not talk about that? My entire office was outsourced:(
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That's what happens when our salaries end up higher then the risk of outsourcing overseas. There is a risk here though. Many of the low cost overseas operations aren't trained as well as our home based employees. There is also the cultural differences that don't always work.
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