Saturday, May 28, 2016

Raising Minimum Wage For Dummies #RaiseMinWage

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The value of unskilled labor, a pool that includes foreign workers by the increasing presence of Internet sales and commerce, will be determined by supply and demand. If the price of labor is fixed or pegged above or below its fair market value will produce an abundance and shortage of labor, respectively. In other words, business will adapt by either laying off workers or replacing them with automation if the price is too high, or adding workers or reducing expensive automation if the price is too low. While most Americans would laugh at communist Russia for 'price fixing' markets, they can't see similar foolishness in the national minimum wage debate, #MinimumWage Debate, A Discussion About Communistic Price Fixing

Replacement of minimum wage workers through automation is more about self-preservation than greed of capitalism - Wendy's, McDonald's, Pizza Hut and countless others will follow.

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Headline: Will Pizza Hut soon be run by robots?

Soon, when restaurant-goers hear “May I take your order?” those words may be coming from a robot.

Some restaurants have started experimenting with human-like robots instead of human cashiers, allowing consumers to pay for their meals without interacting with another person. Although many restaurants have allowed digital ordering, either online, by kiosk or on tablets at the table, the practice of using humanoid, or human-like robots, is still in its earliest stages, and it’s primarily happening in Asia so far. Experts say the robots could benefit restaurants and lead to wider adoption — if diners aren’t too freaked out by them.


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