Your "often" is not borne out by actual econometric studies. The actual rate of minimum wage that produces dead-weight loss is much higher than most minimum wages in the USA.
In any market, there is wide range of possible clearing prices with cost of production as a floor, and marginal value as a ceiling. Which price the market settles on is often a function of bargaining power as much as productivity. Minimum wage regulation is a heavy-handed way to change that bargaining relationship.
I don't see how that is relevant. I am not aware of any outsourced job where the American alternative would cost anything near the minimum wage. The overhead of outsourcing and supervision would dwarf the raw basic labour cost of the $7.25 federal minimum.
I don't dispute that it would be easy to raise the minimum wage high enough to destroy jobs. But I do dispute that the current minimum wage is "often" high enough to do that.
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Your "often" is not borne out by actual econometric studies. The actual rate of minimum wage that produces dead-weight loss is much higher than most minimum wages in the USA.
In any market, there is wide range of possible clearing prices with cost of production as a floor, and marginal value as a ceiling. Which price the market settles on is often a function of bargaining power as much as productivity. Minimum wage regulation is a heavy-handed way to change that bargaining relationship.
Hmm? Outsourcing is the clear counter example. Or do you think it is a coincidence that no outsourced job is more expensive than hiring Americans.
I don't see how that is relevant. I am not aware of any outsourced job where the American alternative would cost anything near the minimum wage. The overhead of outsourcing and supervision would dwarf the raw basic labour cost of the $7.25 federal minimum.
I don't dispute that it would be easy to raise the minimum wage high enough to destroy jobs. But I do dispute that the current minimum wage is "often" high enough to do that.
https://www.indeed.com/career/call-center-representative/sal...