this post was submitted on 23 Feb 2024
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Minimum wage works. Here is an article from the german newspaper FAZ (leans economically right) that presents a study that shows the low income sector has shrunk since the implementation of minimum wages.
Germany before had one of the biggest low income sectors in the western world.
And no, the unemployment rate did not skyrocket. In fact, Germany is as close to full employment as it gets.
I wonder what they do in 21st century when everything is mechanized and automated like never before.
That's literally the exact same thing they said about the 20th century.
UBI and nordic-level welfare should have been implemented in 20th century.