The Briefing Room
General Category => Economy/Business => Topic started by: rangerrebew on April 03, 2024, 04:05:50 pm
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Liberals in la-la land: High wages, 32-hour workweeks sound great, but there's a steep price
Opinion by Ingrid Jacques, USA TODAY • 6h
I recently had a layover at the Minneapolis-Saint Paul airport on my way to visit my parents in Oregon, so I stopped at McDonald’s for a quick bite. Rather than being greeted by a human cashier, I was met with a hall of self-serve kiosks, where I placed my order and paid for it.
Expect to see a lot more machines and far fewer human workers in states and cities that are artificially driving up the cost of employees through higher minimum wages.
“The government seems stuck on this way of fixing something that doesn't need to be fixed,” Brian Wesbury, chief economist at First Trust Advisors, told me. “It messes up the marketplace, and businesses attempt to find a way around it because these are not market-based wages – and today with robotics and computers they can. So it ends up hurting people.”
https://www.msn.com/en-us/money/markets/liberals-in-la-la-land-high-wages-32-hour-workweeks-sound-great-but-there-s-a-steep-price/ar-BB1kZK7g?ocid=msedgntp&pc=HCTS&cvid=664f2ba303b647e2b18bd464ad4741af&ei=10