Saturday, July 27, 2013

McDonald's To Employees: Get A (Second) Job and what would happen if salaries doubled

As reported in Mother Jones. Don't miss Stephen Colbert's presentation.
As far as doubling salaries is concerned, the impact on McDonald's bottom line would be limited according to this post in the Huffington Post. This guestimate is excessive as it implies doubling all the salaries including executives compensation that should rather be reduced. The exercise is interesting as it shows the small impact of a raise of the lowest salaries. The same goes for providing paid vacation, a benefit systematically offered in all industrialized countries without any of the horrific consequences announced in the US if that was to take place. Of course, each time such a raise in benefits is implemented there are people crying wolf but to no avail: there is plenty of room for increasing benefits without endangering the global profitability.

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