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[HUFFPO "STUDY" UPDATE]
CORRECTION: An earlier version of this story misrepresented Arnobio Morelix as a researcher for the University of Kansas. Morelix is registered as a undergraduate student at the university, according to University of Kansas School of Business Communications Director Austin Falley.
Widely-cited ‘study’ of McDonald’s wages by ‘researcher’ was written by an undergrad
The student’s scribblings have not been published in any of the top-tier economics journals (or anywhere else as far as we can tell), though the Huffpo article included an explanation about how Morelix arrived at his findings. Blogger Tom Maguire dismantled the analysis and found that a closer calculation would be a 26% increase in prices. Furthermore, he raises caveats about the elasticity of demand, and asks whether labor costs at franchises are similar to those at corporate-owned restaurants.
Posted this in another thread, but it would be a better fit here. Not sure if its been posted before.
For the record. I'm not for raising the minimum wage but I am for increased wages.
Several studies show that raising the minimum wage would have minimal effects on the industry as a whole. One letter signed by more than 100 economists and published by the University of Massachusetts said that raising the minimum wage to $10.50 would increase the price of a Big Mac by a nickel. Another study shows that doubling the salaries and benefits of all of McDonald’s employees would add 68 cents to each Big Mac.
McD's has a profit margin almost as high as Pfizer's, and Walgreen's - another min wage employer - has an even higher profit margin, but how would you get those companies to raise their min wage without engaging in crony capitalism or hurting the small companies that can't pay more than min wage?
You going to pay extra on top of that so all of the people who are making around $15/hr now can get raises too? Or... do you think they should make the same?
15$ is a livable wage so those making 15$ are already making enough.
Quote:
Originally Posted by Frank DeForrest
If you care so much, stop in and leave some money on the counter, but it is between mcdonalds and its workers where wages are set.
No its not. Its a civilized society issue when capitalists treat people like slaves.. Wage slavery is all this is. I might stop by tomorrow I get paid then. Gonna enjoy a good burger...get some more monopoly game pieces
NO fast food job I ever worked gave me 40 hours...so...yer looking at maybe 20-30 hours tops.
You are young then, working 40+ hours in fast food was as common as breathing when I was a teenager. Many of my friends worked it, one of them even went through the management training for McDonalds and eventually got their own store.
More propaganda of OBAMANOMICS FORWARD campaign MSNBC is on board LEAN FORWARD with their socialists leaning anchors to destroy capitalists and their businesses.$15 dollars an hour to make up for this administrations failure to create real jobs his laser focus on the economy took a back seat to HC his green energy plans a bust excuse making,blame for everything.
When will they protest this mans economic policies and hold him, the Democrats responsible for their 7 years of infamy of job creation they have been in charge of .?
15$ is a livable wage so those making 15$ are already making enough.
So someone who is wiping off tables should get paid the same as the guy that is managing them, or is a PC tech (requiring extensive hardware and software troubleshooting), etc...
Great way to ensure everyone becomes table wipers.
I will gladly pay that much for something I don't even eat so slaves aka workers can have a decent wage.
I suggest you go through this thread and read the many excellent comments about how businesses really work, how pay scales really work. Then think about what minimum wage jobs are, aka entry level low skill jobs.
You are young then, working 40+ hours in fast food was as common as breathing when I was a teenager. Many of my friends worked it, one of them even went through the management training for McDonalds and eventually got their own store.
My first job was McDonalds as a teen and I did work full time during the summers.
I asked and they gave me the hours.
There weren't the mandates and required benefits you have today.
I got no benefits for working those 40 hours over the summer..just wanted the money.
You do realize, of course, that paying a 'living' wage to minimum wage workers wouldn't eliminate the need for SNAP, right?
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