We could have a freer market and near full-employment if we replaced all our social welfare programs with a single minimum living stipend (you apply if you make below it, and if you qualify, get a check for the difference), and abolished minimum wage.
I disagree. A minimum stipend, at least in the way that you described, would create a perverse incentive. Let's say this stipend is $20,000/year. Why should anyone who makes $5,000/year and get $15,000 free want to work harder to earn the same amount?
A slightly better take on this is to have some sort system were it always pays to earn more. For example, you get 1/3 of the difference between what you earn and $30,000. Under such a system, if you earn $10,000, you would get $6,667 for a total of $16,667. If you earn $15,000, you get $5,000 for a total of $20,000. Thus, it always pays to earn more/work harder.
Personally, I don't like either idea. In my opinion, things like the minimum wage only serve to create unemployment. By making it more expensive to hire workers, companies find other means of being more productive, such as automation or illegal labour.
Well they could only qualify if they were looking for work, disabled, or a senior. People who literally choose to do nothing but are able to work should be exempt.
You could abolish minimum wage if you had a system of welfare that covered everybody adequately.
I disagree. A minimum stipend, at least in the way that you described, would create a perverse incentive. Let's say this stipend is $20,000/year. Why should anyone who makes $5,000/year and get $15,000 free want to work harder to earn the same amount?
A slightly better take on this is to have some sort system were it always pays to earn more. For example, you get 1/3 of the difference between what you earn and $30,000. Under such a system, if you earn $10,000, you would get $6,667 for a total of $16,667. If you earn $15,000, you get $5,000 for a total of $20,000. Thus, it always pays to earn more/work harder.
Personally, I don't like either idea. In my opinion, things like the minimum wage only serve to create unemployment. By making it more expensive to hire workers, companies find other means of being more productive, such as automation or illegal labour.