this post was submitted on 06 Oct 2023
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Both could be achievable - it doesn't have to be one or the other
I suppose, but is a minimum wage necessary if there's a UBI? If everyone's basic needs are taken care of, people don't need to be protected from low wages.
Basic needs are fine, but I think an overwhelming majority of people would want more. They will want to go on holiday and go out for meals and drink.
People will always strive for more. I believe the majority of people who don't want to work at all are likely already not working very much to begin with.
Yes, because the incentive to work would not be as high if you can receive $30k/yr, but only $3/hr working food service. But, if they receive $30k/yr plus $20/hr (or whichever number is appropriate for COL in the province/area), then people are more likely to work - and do so productively. This then encourages economic growth through money changing hands and being taxed.
Minimum wage is great for welfare, but economic well-being is not quite the only goal of minimum wage; it also serves to encourage people to join the workforce over alternatives, and to spur economic activity.