The madness just never ends. The minimum wage argument of recent years seems to center on fifteen dollars per hour as the minimum wage rate that will ensure all workers a “fair” standard of living.
In yet another expression of defiance in the face of economic facts of reality, Lori Johb, new president of the Saskatchewan Federation of Labour, vows to fight for, among other cultural bromides, a minimum wage of fifteen dollars per hour, enforced by the coercive force of government.
The following linked article describes the event in which Lori Johb takes over as new president of the labour union.
A quick recollection of minimum wage legislation in any jurisdiction you might select will reveal that the so-called minimum wage rate has continued to escalate over the years and that the complaints about the “minimum wage” worker remain essentially the same, with nevertheless some more recent embellishments.
Today, the idea seems to be that the minimum wage should guarantee the employee a level of income by which he can afford some sort of utopian lifestyle: the ability to raise a family in a home subject to a mortgage with an automobile (preferably a hybrid vehicle) to provide transportation, and sufficient disposable income to provide for an annual vacation to places he’d rather live anyway, and allowing for savings sufficient to ensure a retirement that will be adorned with all his dreams come to fruition.
But that is not reality, economic or otherwise. Free markets are moral and they work. If you stop to think for one solid minute (or more, if required) you may observe that any employee voluntarily accepts the conditions offered by his employer. He remains free to seek alternative employment, when and if he has gained the experience and level of skill necessary to demand higher compensation, in whatever form that may take.
To pretend that government, labour organizations or other collectives can institute otherwise in the face of reality is bordering on psychological depravity.