this post was submitted on 19 Dec 2024
50 points (100.0% liked)
Politics
10312 readers
13 users here now
In-depth political discussion from around the world; if it's a political happening, you can post it here.
Guidelines for submissions:
- Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
- Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
- Do not post ragebait or shock stories. These will be removed.
- Do not post tabloid or blogspam stories. These will be removed.
- Social media should be a source of last resort.
These guidelines will be enforced on a know-it-when-I-see-it basis.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I think it's unfortunately a tragedy of the commons/prisoner's dilemma problem
Simplifying, a single store is not going to be able to improve pay for all the underpaid members of society, but what they can do is run thinner margins while staying in business (pay employees less, spend more on security, etc). Paying only their own employees more also does little to reduce the overall chances of theft.
Perhaps a better global equilibrium exists at higher wage rates, but there are limited options at local levels. For low-end wages, I think the downward pressure exceeds the upward wage pressure of the "free market" b/c the negotiation is between someone making a less profit vs someone failing to make a living -- the negotiating power is not balanced. This is why IMO minimum wage to some degree is important.