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Does a minimum wage help or hurt workers?

AppleSome retail employees of the Apple Store will soon be getting raises, by as much as 25 percent. Workers there typically earn $9 to $15 per hour, while tech support makes as much as $30 per hour.

The company said it is instituting the performance-review-based raises after a survey found its workers were underpaid, but analysts speculated the company was also motivated to better compensate workers once it found they were being poached by Microsoft for its own retail stores.

Employee compensation is an interesting subject. Here is a neat little tutorial about wage determination in competitive markets. It's from the United Kingdom, but still works.

Here's a video lesson:

 

Subscribing to free market theory, many folks believe minimum wage and other regulations concerning wages and benefits should be done away with.

This Web site lists what it believes to be the pros of ending minimum wage. It says abolishing minimum wage would create more jobs, prevent outsourcing for cheaper labor and keep out illegal aliens.

Here is Ron Paul advisor Peter Schiff advocating the abolition of the minimum wage:

 

Other folks don't think so.

Here is a lengthy rebuttal:

 

 

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Jobs | Retail | Web/Tech
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