There is a subtle difference between Minimum Wage and minimum wage.
I'm not a fan of the TOC in general but there is an attempt here to distinguish between Minimum Wage and Progressive Wage.... but I do agree both models have a minimum wage component in them.
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http://www.theonlinecitizen.com/2015...-modelspart-i/
Generally, the Minimum Wage model attempts a direct redistribution of wealth from the business to the worker, while the Progressive Wage model attempts to increase the wealth of workers by making them more valuable to the employer, who, in turn, will hire them at higher wages.
The Progressive Wage model
1.Businesses require and desire local workers that are highly trained
2.Workers are willing and able to undergo the training being given
3.Businesses are willing to accept (through heavy incentivising or coercion) to accept the disruption to their businesses when training takes place (heavily incentivised, rather than merely incentivised because disruption to a business is not counted merely in dollars and cents. Sometimes, those causing the disruption are so vital that businesses might prefer to discard the worker altogether, and hire someone else on a permanent basis)
4.Workers do not suffer from fatigue, insecurity and demoralisation, which make it impossible for them to sustain the effort needed to improve their skills (especially in the context of the above requirements)
5.The economy is significantly driven by external factors, rather than internal consumption
The Minimum Wage model
1.Businesses are able to absorb the cost of any increases in wages
2.Workers are presently underpaid vis-a-vis the amount of effort that they put in – resulting in negative economic consequences such as under-consumption within the domestic economy
3.Businesses are willing to accept (through heavy incentivising or coercion) to accept the increased costs that they must incur as a result of this action
4.The effect of fatigue, insecurity and demoralisation are a primary cause of productivity decreases and stagnation, either through an unwillingness to take risks, or an inability to concentrate for psychological reasons
5.The effect of increased salaries result in sufficient beneficial results, such as additional consumption, greater ability and willingness to partake in entrepreneurship, better ability to take on new skills, and increased tax revenues will outweigh the negative effects such as increases in unemployment, withdrawal of business opportunities and consequences of violations of trade agreements with other countries, if any.
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