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Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
US federal minimum wage has de-facto been abolished, thanks to inflation. This often gets missed because it happened slowly and as a result of inaction, but it's still worth talking about.
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Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
BTW since I'm sure a lot of people had the same thought, here you go:
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Mac Budkowski แต pfp
Mac Budkowski แต
@macbudkowski
And when people want to raise it, they are called communists ๐Ÿคทโ€โ™‚๏ธ
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kripcat.eth ๐ŸŽฉ pfp
kripcat.eth ๐ŸŽฉ
@kripcat.eth
Oof that gender disparity..
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Ed pfp
Ed
@eds
Many countries like Sweden don't have a minimum wage and things seem to work out fine
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@afl
A wider issue across the US/EU, which is leading to polarisation, extremism and political instability.
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IDEKAใƒ„ pfp
IDEKAใƒ„
@ideka
No one can live off of $7.25/hr.
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m_j_r pfp
m_j_r
@m-j-r.eth
thankfully the market on the minimum side reaches competitive equilibrium in many places. in others, child labor limits are loosened, raising the importance of that wage limit, but inflation works to suppress that. ultimately, it's a bargaining contest.
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Greg Lang pfp
Greg Lang
@designheretic
How familiar are you with its origins? B/c imo this is a positive https://mises.org/mises-wire/racist-history-minimum-wage-laws
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John Camkiran pfp
John Camkiran
@johncamkiran
A farce
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Alex Van De Sande pfp
Alex Van De Sande
@avsa
UBI solves the problem better than minimum wage
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xglitch pfp
xglitch
@g0x
Woof
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Damon pfp
Damon
@boris-da-bull
https://tangled.com/c/b8ad3bae31098c9062ea86991c50c8441c8d11a77
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eggman ๐Ÿ”ต pfp
eggman ๐Ÿ”ต
@eggman.eth
This is deeply depressing to look at. But tbh it's also worth remembering that much of crypto (TOTAL3 in particular) is in short, a side effect of excess liquidity. Same can be said for the majority of stocks too, esp lowcaps. Our market environment has shifted to a printing meta, and it's workers who pay for it.
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Jake pfp
Jake
@ohio
It's why we all are arguing in a vacuum sometimes. The facts aren't there to help the conversation. Love following you on here.
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Alex๐Ÿ”ต pfp
Alex๐Ÿ”ต
@consumes.eth
Minimum income almost never gets corrected for inflation directly, always takes at least a couple months or year(s), youโ€™re always chasing it
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greenonions ๐ŸŽฉ pfp
greenonions ๐ŸŽฉ
@greenonions
Minimum wage jobs were completely eliminated in hyperinflatwd Weimar Germany. Add on the speculation of all assets, I think this is a symptom of something much larger
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