Most countries have this (minimum wage regulated by a regulator). The fact you need an act passed by the legislature every time you want to raise it is ridiculous.

[–] Sludgeyy@lemmy.world 2 points 2 days ago (1 children)

Minimum wage shouldn't have to exist

If everyone had a universal basic income then people wouldn't be forced to take a job that doesn't pay them what they feel like they deserve.

Let the market set the price

If I am willing to do a job for $10 dollars to make extra cash, I should be able to.

If no one is willing to do the job for $10, the company will have to offer more.

Minimum wage is a bandage to a problem of capitalism. Wound being poor people suffering without "minimum". If you make sure everyone has the "minimum" you fix the problem and don't need the bandage.

Capitalism doesn't take into account people have basic needs. It assumes everyone is like a robot waiting for the perfect job to pop up.

[–] goferking0@lemmy.sdf.org 1 points 2 days ago

The problem is people who are desperate enough will still do it for under market wage.

Plus markets are shit at labor/wages.

Capitalism doesn't take into account people have basic needs. It assumes everyone is like a robot waiting for the perfect job to pop up.

But your idea is to do exactly that with capitalism