I think the criticism of this is legit. The fear is that this opens up legally the expectation of a 12 hour day and if I'm not mistaken the compensation for going over 40 hours is food and shelter? Sounds kinda like slavery for real
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You know, in a free market everybody should be able to negotiate how much they earn and how much they want to work.
As long as it is voluntary, I don't see any problem in which the employer and the employee get to any kind of agreement. Governments should not get in the way.