H McKee Stewart Jr

Musings on Business, Finance, and Economcs.

Posts Tagged ‘unemployment

Think that $11.50 Minimum Wage is a Good Idea?

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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.

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Written by hmstewartjr

22 October 2013 at 8:48 PM

Posted in Uncategorized

Tagged with ,

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