Quote:But it would be incredibly unlikely for the wages to reach what they are now.  Even with more competition for employees -- those jobs could not create a level of competition to raise the wages to the current minimum wage.  If they did, the competition would exist now as well.

 

Assuming (and I don't mean to presume anything about your opinions, rather going by what many libertarians beliefs are) that you are anti-union, you're also giving little bargaining power to the people.  Meaning as long as employers found workers that were willing to do the job for less, they could set the wages as low as they like.

 

And honestly I don't believe that businesses can't afford to hire more workers.  It's that they don't need them.  Which means that it wouldn't really create many jobs at all.  (And the jobs it did create would be sub-minimum wage, and mostly unlivable) 

 

I'm only against Public Unions, because it's organized labor against the tax payer.

 

As a Libertarian I don't see any problems with private unions or individuals bargaining on a collective place, but it's when government get's involved that I object.

 

Again the relation to the amount of jobs and the wages paid is easily observable. If you look at the Median Income (that's the average) and also look at the Employment Ratio you'll see an undeniable correlation that as jobs decrease or become in demand by the worker the median income gradually decreases. As job's increase and workers become in demand by the employer median income increases.

 

 

Quote:I understand the theory behind it but I just dont understand how people can put all this faith in businesses to not take advantage of people. They do it now whenever they can, why would they do it with even less regulations/rules? Small local businesses will sure, in fact I see them doing it every day around town here. Small businesses wont thrive if you allow the market to run rampant. They will not last. 

 

It's not faith in business, it's an observation in the laws of economics. Supply and Demand, if you want to drive the price of something up (in this case wages) you need to create a demand ( in this case workers). The only way to create a demand for workers is to create more work. Regulation does not create work.

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