How would you?

it would always cause inflation

and higher unemployment

it's an increased forced cost on a firm

Artificially increasing wages hurts more people

well you'd manage inflation, all countries have inflation. and it's not always bad to have some or create more

Because real wages would fall

you would raise the minimum wage
>employees fire, lower working hours, increase prices of goods

so they end up worse than before

then they'll demand higher wages and the cycle will repeat again with more casualties

sorry if i sound like a cop out but i *really* dont want to jump into this rabbit hole

nah its k

there are obviously problems with regulations

they create problems too

but it's about picking the lesser of two evils

the lesser of the too evils

or the good would be

removing the regulations

Wages will automatically reach market level

in my country if our minimum wage was removed people would be earning very little

because people dont know how to bargain

and dont know their worth on the market

what country?

it's not about bargining

Employees would have to pay them a good amount to keep them

if they were needed lol

you can replace the woman that is cleaning corridors at your office in no time

we're not talking about IT guys that are very valueable on the market

and can very easily know their worth

i can see you are a very liberal guy so i guess i should also point out my liberal ideas on the market

low taxation is good

creating an enviroment where capital can be invested to create jobs is ideal

people should have acess to a variety of choices of their prefered services

etc etc

idk this is just standard stuff

lol

"you can replace the woman that is cleaning corridors at your office in no time
"

Yes there would be competition in the labour market

and employees would have to pay well

do you think there are more business looking for people to clean their offices than people looking for that sort of job?

because that would be the only way that the employee would have less to lose than the employer