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Title: "...minimum wage is a 'machine to destroy jobs'" Post by: WhiskeyGirl on January 27, 2012, 06:45:31 AM I've never heard it explained so well...
Quote "The minimum wage is a machine to destroy jobs. Look at France and Le Pen. The minimum wage is the enemy of young people entering the labour market. They don't have a voice." Mr Thiam told the audience that minimum wage legislation was a "false social policy" designed to protect workers but in reality making the workforce more precarious. Such wage rules also reinforced the protectionist nature of trade unions, he claimed. "Unions represent people already in jobs so they always support minimum wages. That crowds out the unemployed. People can't get full time employment. They move from fixed-term contract to fixed-term contract." read more here - http://www.telegraph.co.uk/finance/financetopics/davos/9041442/Davos-2012-Prudential-chief-Tidjane-Thiam-says-minimum-wage-is-a-machine-to-destroy-jobs.html (http://www.telegraph.co.uk/finance/financetopics/davos/9041442/Davos-2012-Prudential-chief-Tidjane-Thiam-says-minimum-wage-is-a-machine-to-destroy-jobs.html) How do you gain any skills if you can't get a starter job? Why does the safety net keep people from working a 40 hour job? How many jobs had Obama destroyed? Good paying pipeline jobs? |