Re: Consequences of high minimum wages: Automated ordering kiosks
It boggles my mind that some people don't see this coming. The only reason this technology wasn't being developped earlier was because it was more profitable to just employ people. If you push the minimum wage up, you're just accelerating automation. Ironically it leads to fever jobs, but the people who do have jobs will be paid higher 
at the low end anyway. (This is in the short term, in the long term, automation may actually create more jobs, but the price of that is heavy)
I mean come on, if someone is not producing over say $7 of value per hour, and you're suddenly forced to pay them $15, that just doesn't seem like a very sustainable business model, does it now?
at the low end anyway. (This is in the short term, in the long term, automation may actually create more jobs, but the price of that is heavy)I mean come on, if someone is not producing over say $7 of value per hour, and you're suddenly forced to pay them $15, that just doesn't seem like a very sustainable business model, does it now?
Very smart people who seem to understand every single line of code in the bitcoin protocol right here can't accept or reject this 101 economy class as fraud and anti socialistic
