alt Hacker NewsThis is the standard in the Scandinavian social democracies. They have no minimum wage laws (though unions supplement that greatly) and a competitive labor market pushes wages up.
Much like housing, the best solution usually isn't government price controls. Better (if feasible) is abundance in the market.
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Why are tech wages lower in Scandinavian countries than in the United States?
We don't need a minimum wage if your minimum needs are met.
When everyone is the same (genetics, background, culture, etc) there is very little structural inequality in a competitive market. In an empire like the US, so many groups exist in a hierarchy that government support is required. In such an environment bare competition simply reveals and highlights fundamental difference, which is not conducive to social cohesion or harmony.
They also have a much better safety net. Healthcare not being tied to employment is already massive.
I think a flat tax + UBI is the only way to go. The dream of AI should be a society where maybe 10% of people have to work. The nightmare is if the other 90% still need work but can’t find it.