What is a PROPER wage? Based on your output being worth 100$ per hour.

We hear about how us libs are commies, and socialists, and fascist, but lets skip the last lunacy for now.

Based on the employer getting 100$ per hour from the employee, what is a fair wage for employee? Lets say a few categories. One, the employer has equipment that you run. Two, the employer has equipment you run, and it takes measurable skill to do so, and experience.
Three, you use your own equipment, and have skills that are hard to find and have experience.

Given though, that, for instance, a fast food restaurant, makes 100 per hour per employee likely. So, how much can a person expect, with can do and no real experience needed?

 

Maximum theoretical wage depends on the demand curve, and there will be some trade-off between wage level and how many can be employed at that wage.

Keep in mind the demand curve is not only at the individual employer's end, but ultimately on the consumer's end, since there may likely be price increases if wages increase.

Then there will also be some additional interplay between higher wages and higher consumer demand.

 

Its impossible to get fairness in capitalism. The worker will be underpaid. The only discussion is the severity of that underpayment. The right winger talking about the marginal revenue product of labour is laughable (even the orthodox economists acknowledges that monopsony will be a driver of inefficiently low wages)

 

You obviously know nothing about fast food restaurants. You think grossing $2K/day is a lot of money. Go ahead and figure in your food costs, overhead, and initial multi-million outlay and then tell me what that employee is worth.

 

And now we know why fast food workers will be replaced by automation sooner, than later.

 

And then of course if the trend continues we will have to replace the consumers of fast food with automatons since the poor and uneducated who consume the fast food will no longer have the means to afford their poison.

 

I think that’s going to be a very interesting dilemma capitalism is going to face. Because automation is on its way.

 

People are paid what they're worth, except for union members who are paid well above what the free market would give them due to extortion.

In 99% of all businesses, a wage rise of just a few percentage points would put the company out of business.

 

There are many knowledgable experts that believe about 50% of all jobs can be automated. Personally I think that estimate is low.

 

Based on your criteria, we will say $50 goes to materials, whether that be sheet steel or a burger patty.

$10 goes to various state and local taxes and fees.

$20 goes to location and equipment (utilities, hydraulic press)

$10 goes to profit.

$10 goes to wages.

My expenses may be a little on the low side in this example, but it's the closest I can get to the outcome you want.

 

Economic calculation is one of the problems solved by prices.

 

Your opinion is noted however If you have any actual evidence to support your opinion it would be welcome.

 

Not enough information. Cost of goods sold is roughly $50 / hr worked --- meaning Gross Profit is $50 / hr.
SG&A is about $10 / hr worked. So, we're down to $40 and we haven't even discussed the Interest Taxes, Depreciation, and Amortization --- or the wages of your employee.

 

Paid under what?

 

But according to AOC maybe they shouldn't reproduce anyway.

 

Where how much you're willing to work for and how much other people are willing to work for intersect.

Then how much the employer wants you, instead of the other guy.

 

I paid my guys around 12-15/hr as a small business owner and by the time it got back around to me they sometimes maid more than me on a given project. On average, if you factored in the amount of hrs I was pulling vs there 40/wk, I wasn't making much more than they were. The only thing that makes many businesses even sustainable is that the people at the top are working nearly around the clock.

 

Whatever is agreed upon between employer and employee. Like any other business deal based on voluntary action and free will.
Generally, people get paid what they are worth. If they are actually worth more than their current employer pays them, then they are free to shop their skills in the marketplace for a better deal.

 

It depends on the supply of and demand for that job, just as the supply of and demand for the fast food dictates its price. Experience requirements are generally going to increase that price because it means the supply pool will be smaller.

 

I know far too many people who didn't draw a cent in salary for years, when they were establishing their businesses. Their staff, OTOH, were paid very well.

 

What is fair? How ab000out the third world where they get paid under $2 a day???

 

Have we degenerated as a country to the point where people fliping burgers think they have skills?

 

It's the end of capitalism. Capitalism doesn't work if there are no jobs.

Centuries from now, companies will be publicly-owned entities manned by machine labor. Money will not "exist" in any recognizable sense, because "worth" will be determined by universal corporate output. Our species will benefit off the "wealth" produced by our own machines. Poverty will be a disease of the past.

In short, the Star Trek socio-economic structure is the direction we're taking. But none of us will live to see this.

 

I do not think so. What you fail to consider is that the elite who are at the top of our food chain are for the most part sociopaths and psychopaths. They are void of morals and conscience which is why they rose to the heights they have.
Up to this point, they have needed the sheeple to man their factories and to fight their wars. We are herded like livestock to serve them, and have been considered assets. As the jobs diminish and are automated, unemployment will increase putting ever increasing strain on social services. This in turn will create increased pressure to raise taxes especially on the rich. It will not be long before the sheeple are no longer considered assets and instead become liabilities to the elite.
How long do you think people who are devoid of morals will tolerate the sheeple when they are no longer assets and become liabilities? I believe they have something a little more unfavorable in mind than Star Trek.

 

It's worse than that. The googly eyed child (AOC) thinks those 'unwilling to work' deserve a cushy salary, also.