H McKee Stewart Jr

Musings on Business, Finance, and Economcs.

Think that $11.50 Minimum Wage is a Good Idea?

leave a comment »

Meet the robot that will replace your barista

As we force wage rates upward, automation becomes less expensive relative to labor. Which means that machines replace labor, eliminating lots of entry level jobs.

For that matter, at some fast food places, touch screens are starting to replace the people who used to take  your order.

So, now we can all congratulate ourselves for having done our bit to enact a ‘living wage’, but at the ever higher price of the unemployed.

But Hey! If they’re poor, maybe they should have gone to Law School! Except for, err…. maybe they did.

Advertisements

Written by hmstewartjr

22 October 2013 at 8:48 PM

Posted in Uncategorized

Tagged with ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: