handoflixue comments on A potentially great improvement to minimum wage laws to handle both economic efficiency as well as poverty concerns - Less Wrong

0 Post author: VijayKrishnan 26 July 2011 12:07AM

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Comment author: handoflixue 28 July 2011 12:05:36AM 0 points [-]

It's worth pointing out that a couple countries have that sort of social security and still have a minimum wage, and they seem to do just fine. (Australia, I believe UK too?)

It's also very worth watching the politics that go in to that - a mathematically ideal policy is useless if you can't get people to accept it. Proving that it's mathematically ideal is very rarely compelling, either.