The other day Martyn Bradbury declared :
The living wage is $19.80 – let’s push for $20. The arguments for increasing it outweigh the negative. People spend that money directly into their neighbourhoods, small business will benefit from more local spending – large corporations will get grumpy. But screw them.
This demonstrates the retarded spasticity of the left wing when it comes to simple economics.
But it isn’t just this fool. It seems there are plenty of others pushing for the minimum wage to become the highest in the OECD.
Earlier this week, the government raised the minimum wage by 50 cents, and the country’s living wage movement announced a new rate of $19.80.
In a debate on RNZ’s Sunday Morning programme, Eric Crampton, who is an economist and the director of the New Zealand Initiative, said among developed countries New Zealand already had the highest minimum wage in relation to the average wage.
Mr Crampton said it was unreasonable to set the minimum wage high enough for people to live off it without any subsidy. Read more »