Minimum Wage

Minimum Wage: Not a great idea

Let's talk about something that gets ignored a lot: About 10% of people have an IQ less than 80. These folks struggle with learning, problem-solving, and social skills. Even for minimum wage jobs, they find it hard to compete with everyone else. The US army knows this - it has a minimum IQ rule of 83. People below this level can't do their jobs properly. So, these folks end up jobless, and sadly, some turn to crime.

In 2023, the minimum wage in the UK is £10.42 per hour. But this rule can hurt small businesses that can't pay that much. If we got rid of the minimum wage, these businesses could offer jobs that pay less. It would open up jobs for people with low skills or low IQ. They could learn, gain experience, and maybe move to better-paying jobs later.

Now, the minimum wage might sound like a good thing. But the truth is, it can cause more harm than good. It makes it harder for the poorest and weakest to find jobs. Think of it like a big ditch around a pyramid. Most people can jump over the ditch and climb the pyramid. But for those at the bottom, it's too hard to make the jump. If we let small businesses pay less, they could help bridge this gap. That way, even the bottom 10% can start climbing the pyramid.

Here's something else a lot of people don't know: Most folks don't work for the minimum wage. In fact, in 2023, only about 5% of all UK workers were paid the minimum wage​. The minimum wage rule doesn't help most people. It mostly hurts small businesses and people who are already struggling.

Instead, we should let the free market decide what a job is worth. In a free market, businesses and workers agree on pay based on skills, experience, and what the business needs.

If we get rid of the minimum wage, there will be fewer people competing for the current minimum wage jobs. This could actually make wages go up overall.

The minimum wage might sound nice, but it's actually a bad idea. It hurts the people it's supposed to help.