That's obviously false. If there were an infinite supply of desperate people "willing to work more for less", wages would be zero, or minimum wage at most.
There is a finite supply of labor, and we are not anywhere near a level of technology where we no longer have an unbounded demand for labor.
If there were an infinite supply of desperate people "willing to work more for less", wages would be zero, or minimum wage at most.
Well, isn't it exactly what's happening? As far as I can tell, in the unskilled job market, like retail or fast food, wages are what they are because anything less is either illegal or makes it better for an employee to stay on welfare.
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That's obviously false. If there were an infinite supply of desperate people "willing to work more for less", wages would be zero, or minimum wage at most.
There is a finite supply of labor, and we are not anywhere near a level of technology where we no longer have an unbounded demand for labor.
Well, isn't it exactly what's happening? As far as I can tell, in the unskilled job market, like retail or fast food, wages are what they are because anything less is either illegal or makes it better for an employee to stay on welfare.
No. Zero wages would be all people working for free. And clearly most people aren't. Most people also make a lot more than minimum wage.