this post was submitted on 19 Dec 2023
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[–] Cowbee@lemm.ee 9 points 11 months ago (1 children)

Capitalism itself is the scam, ownership is fake justification for exploitation and suggests a false level of meritocracy. Capitalists aren't Capitalists because they are smarter or more competent, but because they have money, and can grow that money in the M-C-M' circuit.

Minimum wage is an absolute necessity because Capitalists would abuse their power to pay as little as possible otherwise. The only places a minimum wage are proven to be unnecessary is in extremely unionized countries where Unions have all of the bargaining power they need.

[–] SCB@lemmy.world 1 points 11 months ago

Minimum wage is an absolute necessity because Capitalists would abuse their power to pay as little as possible otherwise.

This is wrong for several reasons:

1: even a worker-owned co-op would seek to limit new hires, because the pool of revenue is only so big. This is no different from wanting to pay someone as little as possible, ethically.

2: if minimum wage was an absolute necessity and markets didn't drive wages, vastly more people would be paid at minimum wage.