Comments by "Digital Footballer" (@digitalfootballer9032) on "Hoe hoog zou het minimum loon moeten zijn?" video.

  1. In many cases, it ends up being the maximum by default. Elimination of the minimum wage would make hiring more competitive. The places that paid more could be more selective in who they hire, especially if they offered incentives for pay raises, and their business would flourish and create more jobs. Places that wanted to offer low wages and no incentives would eventually fail. This would cause competitive wage offerings by businesses. Right now because of the minimum wage, everyone offers the bare minimum, so everyone else does it, and everyone who works for them offers the bare minimum work because there is no incentive to not just "work just hard enough not to get fired". It also curbs transientism in jobs...which reduces training costs among other things. Back when I was young and in school, the minimum wage was $5.15/hr. Pretty much all the fast food joints paid that, and many retail stores. I took a job at a retail store that paid $5.75 to start, $6.00 after 90 days, and annual performance based increases. It doesn't sound like alot, but an extra $20-30 a week went a long ways for a broke college student in the 1990's. I kept that job for 5 years, and everyone else I knew hopped around dozens of jobs for years. Replacement costs are high for employers, so retaining employees is advantageous.
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