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Debunking Union Myths about the Minimum Wage and Economics - Feat. ACTU

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First published at 00:20 UTC on January 9th, 2018.

#minimumwage
#economics
#unions

Matty's Modern Life

MattysModernLife

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A minimum wage is a law where the government forces businesses to hire people at a rate they otherwise wouldn’t offer.
It does nothing but set a price floor above the market rate that means it won’t ever work.
Minimum wages are bad economics and bad policy, they don’t work and shouldn’t be used.
In this video I respond to two things, an article discussing a job ad for a nanny (au pair) and ACTU Secretary Sally McMannus’ recent press conference regarding the Fair Work Commission “only” raising the minimum wage by 59 cents an hour.
Her arguments are full of lies and economic fallacies so it was an easy video to respond to, however listening to this woman speak was hard work.
Unions either don’t understand economics or they are willing to flat out lie in order to push their agenda.
Either way they aren’t worth listening to.

Still, it’s fun to debunk them, I hope you enjoy it.

Original Source and Story - http://www.news.com.au/finance/work/at-work/dont-want-much-for-25hr-do-you-ad-for-afterschool-nanny-lists-duties-including-dog-walking/news-story/eabb263b878cec8757402deb585c1b41

Additional Sources:
World bank poverty: http://www.yourarticlelibrary.com/poverty/poverty-difference-between-absolute-poverty-and-relative-poverty/31409
World Bank FAQ: http://www.worldbank.org/en/topic/poverty/brief/global-poverty-line-faq
Brookings Institute – Work and Poverty: https://www.brookings.edu/research/work-and-marriage-the-way-to-end-poverty-and-welfare/
How to avoid poverty: http://www.ncpa.org/sub/dpd/index.php?Article_ID=18651
Raising Min wage: https://www.theguardian.com/australia-news/2017/jun/06/minimum-wage-to-rise-by-22-a-week-after-fair-work-commission-ruling
Fair Work Commision: https://www.fairwork.gov.au/how-we-will-help/templates-and-guides/fact-sheets/minimum-workplace-entitlements/minimum-wages
Forbes minimum wage: https://www.forbes.com/sites/timworstall/2017/04/19/news-just-in-the-san-francisco-minimum-wage-kills-restaurants-and-thus-restaurant-jobs/#61947..

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