Based on my experience, I estimate the sales price of an existing McDonalds franchise (or company-owned restaurants sold as turnkey franchises) to be in the $2 million to $6 million range, plus or minus, depending on their sales, profit margins, historical trend, etc.
We help them earn those billions of dollars that give them the lifestyle that the CEOs get. They earn million-dollar paychecks, so why can't they give us something that we can live on?
Prior to the 1980s, productivity gains and workers' wages moved in tandem. But from 1980 to 2008, nationwide worker productivity grew by 75 percent, while workers' inflation-adjusted average wages increased by only 22.6 percent.
This means that over the course of the last 30 years or so, workers were compensated for only 30.2 percent of their productivity gains.
If American workers were rewarded for 100 percent of their increases in labor productivity between 1980 and 2008, as they were during the middle part of the 20th century, average wages would be $28.53 per hour--42.7 percent higher than the average real wage was in 2008.
Then you find out that a person who picks up a broom and moves it from one side of the hall to another - something so low-skilled that it is often given to individuals who are literally mentally retarded as a way to find them productive employment - makes, or wants to make, the same amount of money that you do. Without any of those opportunity costs that you or your family had to suffer, with a far lower bar.
"With 284,000 college graduates making minimum wage and those with a high school education or less increasingly jobless, fast-food franchisees can be more judicious with their staffing decisions. The choice is now between inexperienced, flaky, distracted but fresh-faced teens or their parents who've been worn down by years of experience and humbled by the recent downturn.
Not surprisingly, places like Wendy's (WEN +0.43%), Panera Bread (PNRA +1.08%) and Chipotle Mexican Grill (CMG +1.76%) are increasingly opting for the docile and desperate latter."
I think that with a low minimum wage or zero minimum wage, you have more people starting out working earlier - in their teens - at part time jobs for fairly low wages, but enough for pizza and movie ticket money and suchlike. This gives them both experience with work, an understanding that work is a necessary part of life if they want various luxuries
If the choice is between an adult at $7 an hour and a teen at $5 an hour, for example, what will a company think is more valuable? I don't know that answer, and neither do you, because we have no way of finding out.
I just find it really strange that the very idea that people might prefer to hire the cheapest possible labor, thus the people willing to accept the least for their labor is controversial.
I feel like you in particular have been saying that there is no situation in the current economy in which child/teen labor would be cheaper than adult labor
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