Comment on McDonald’s CEO is grappling with a ‘two-tier economy’ as he slashes prices on value meals—and signals backing for a minimum wage increase

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gandalf_der_12te@discuss.tchncs.de ⁨1⁩ ⁨day⁩ ago

No, that’s not how the modern economy works. A CEO can’t just pay higher wages randomly. They have to adhere to some invisible laws guiding them towards paying the minimum wages they can get away with. If they pay more, they get fired and replaced with another CEO who pays less again.

The only way to make a company pay more is if it benefits the company or if it’s forced by law, i.e. legally-mandated minimum wage. That, however, is a bad idea too IMHO because for one some businesses who’re just barely profitable today would simply go out of business and people would lose their jobs, and also it would make human employees more expensive and companies would look towards automating their jobs away, because machinery would be more competitive.

IMHO the best solution is to give people money, but not through the workplace, but through a legally-mandated universal basic income. Otherwise, you’re forcing people to go to work to be able to live and people would have to suck up whatever bad working conditions their workplace features just to be able to survive, i.e. the same we’re seeing with medical insurance today when it’s tied to work requirements.

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