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Opinion

What The $15 Minimum Wage Means To The Free Market

Radio hosts debate the nature and possible effects of a $15 mandatory minimum wage for on a free market economy.

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"A 70 percent increase in the cost of an employee that doesn't mean that all of a sudden that employee is worth that. You're saying they should get that simply because they exist."

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Andrew Burton Scott Olson Justin Sullivan
TRANSCRIPT This transcript was generated by AudioBurst technologies

Everybody wants people to make more money and to be better off financially. But what you're saying is you want the government to come in and start setting the value of workers and you yourself said well no they would get more if they had experience that's the whole point, there's only so much that the market will bear in terms of an increase, but when you're talking in some cases a 70 percent increase artificially put in place, a 70 percent increase in the cost of an employee that doesn't mean that all of a sudden that employee is worth that. You're saying they should get that simply because they exist. Simply because they need to pay their bills. It is never, it has never been that way. And it won't be that way. - It won't be that way because economics doesn't work that way. Whether you like it or not, the free market sets the value of an employee, the government coming in and saying no, that employee is worth 50 percent, 60 percent, whatever the figure would be, more than they're getting right now, the free market doesn't care what the government thinks, the free market will say, you think this worker is worth that? I don't. Their experience isn't enough, they're a low skilled worker, I can go out and get somebody else or somebody else who is much more qualified, that can get things done quicker, that shows up on time, and that has managerial experience that I can hire, along with automation and I can save three dollars an hour still. And what the government is forcing me to do, because I'm going to get as much value as I possibly can off of all my expenses, that's how the real world economy works, you may not like it.