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Minimum Wage Fuel Thought Experiment (Variable Wage?)

Crazy Idea (or not?)

What if the US Minimum Wage was based on the price of a gallon of Gas?
Instead of requiring "$7.25 per hour", rate of "Twice the cost of a gallon of gas" could be required.

The price of fuel is already a major factor upon the US economy.

Could such a change cushion the blow for the common worker?
How would it affect Employers (Large & Small)?
Would it alter the behavior of investors?

What changes would occur if workers started negotiating using such variables?

  • Mar 16 2011: How about no minimum wage at all, since it has proven conclusively to result in fewer jobs?That aside, your idea is conceptually not a bad one, as it de-links the 'good' from money, so would be unaffected by inflation. Of course, the question is: who would get to pay for it?
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      Mar 16 2011: i can go sleep early if you answer all economics related questions correctly, saving me from the backbreaking work! :)