Disspelling Minimum Wage Myth.

I also believe there's a more important problem concerning minimum wage; it's a feedback loop. As you raise the incentives for unskilled labor (past what their market rate would be), you inherently increase the value in being an unskilled laborer.

Say minimum wage is $5.00, and a (relatively) unskilled person can train and invest in enough education to get a $10.00 an hour job. He's more than willing to do this. But when you raise minimum wage to $8.00, it makes no sense to spend time and money trying to learn a job that will only pay marginally better than what you do now.

This inevitably causes a drop in the average wage (raising the minimum wage alone causes no difference in the average, because enough people will lose their jobs to cancel out any gains). It's a very small effect when you consider it individually, but over several hundred million people, it adds up. Now, we're in an economically worse situation than we were before. And what's the solution? Hike the minimum wage...

Jam it back in, in the dark.

Originally Posted by UnpackedRat

Also, it is very conductive, so its proven to be very helpful in electronics.

Bleh, gold has its use in electronics, but 9 times out of 10 it's just a marketing ploy. Copper is still too good and too cheap.

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