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January 27, 2019

What A Concept...Let The Free Market Set Wages!

There are lots of reasons to support a minimum wage, and all of them are political or emotional. There isn't a single rational economic argument I have ever heard that justifies setting a minimum wage above zero. Yet it is still a popular idea among people who should know better, like anyone who has ever taken an economics class or worked in the private sector. So I guess that eliminates most Democrat and some Republican politicians.

Yet the good people of Switzerland understand it, and shot down a minimum-wage referendum with verve! Minimum-Wage Smartness in Switzerland

Two years ago, Swiss voters had a national referendum that would have set the nation’s minimum wage at $25 an hour, ten dollars more than what is being proposed in the United States. I’ll bet you’ll never guess how the referendum came out. It went down to defeat, big time. 76.3 percent of voters voted no to the referendum.

Why did Swiss citizens reject that very generous minimum-wage proposal? Was it because they don’t like money? Was it because they hate the poor? Wasn’t it because they believe in the employer exploitation of the worker? Or was it because they like subsistence wages?

I am no fan of the Swiss. It took them 50 years and a big lawsuit for them to release funds held in Swiss banks in the names of Jewish victims of the Holocaust. But they got this one 100% correct.

&topic=world_news"> digg this

posted by CBD at 12:10 PM

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Yet the good people of Switzerland understand it, and shot down a minimum-wage referendum with verve! Minimum-Wage Smartness in Switzerland Two years ago, Swiss voters had a national referendum that would have set the nation’s minimum wage at $25 an hour, ten dollars more than what is being proposed in the United States. I’ll bet you’ll never guess how the referendum came out. It went down to defeat, big time. 76.3 percent of voters voted no to the referendum. Why did Swiss citizens reject that very generous minimum-wage proposal? Was it because they don’t like money? Was it because they hate the poor? Wasn’t it because they believe in the employer exploitation of the worker? Or was it because they like subsistence wages? I am no fan of the Swiss. It took them 50 years and a big lawsuit for them to release funds held in Swiss banks in the names of Jewish victims of the Holocaust. But they got this one 100% correct. &topic=world_news"> posted by CBD at 12:10 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments [/i][/b]andycanuck (hovnC)[/s][/u]: "Maral Salmassi @MaralSalmassi Despite claims made ..." jimmymcnulty: "Are Australian pizzas served upside down. Asking ..." Viggo Tarasov: "Hey, that tweezer thing can really pluck someone u ..." Eromero: "322 German police valiantly confiscating a Swiss A ..." 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