minimum wage

[robocop (actually)]

I hadn't heard proof that raising the minimum wage was good or bad. I thought it was bad.

But this is interesting:

https://edlabor.house.gov/imo/media...ForWorkers,Businesses,andTheEconomy-FINAL.pdf

 

[PoetPhilosopher]

Raising the minimum wage is good but it sometimes leads to employers being more selective in who they hire.

 

[Secret Chief]

If the wage is not increased then it falls in relative value because of inflation.

 

[Shadow Wolf]

I hadn't heard proof that raising the minimum wage was good or bad. I thought it was bad.

But this is interesting:

https://edlabor.house.gov/imo/media...ForWorkers,Businesses,andTheEconomy-FINAL.pdf

Yup. The Miltonian, Chicago, Neo-Con economics have proven themselves erroneous and wrong (Milton himself was very insistent the minimum wage laws were very terrible).
But we're finding out instead when we have models of cooperation things work out better for all rather than if we had them functioning in models based on competition where it will only work out for a few in the end.

 

[Altfish]

If you give the poorest more money they spend it; be it on rent, food, beer, cigarettes, etc BUT it gets spent at local shops.

Give more money to the rich and it goes in savings, holidays abroad, pension funds, etc. It does not get spent locally

 

[Subduction Zone]

If the wage is not increased then it falls in relative value because of inflation.

Not necessarily. Economics can get rather complicated.

 

[pearl]

If you give the poorest more money they spend it; be it on rent, food, beer, cigarettes, etc BUT it gets spent at local shops.

Absolutely. I think of minimum wage as a living wage that allows provision for the necessities and dignity.

 

[Altfish]

Absolutely. I think of minimum wage as a living wage that allows provision for the necessities and dignity.

It also boosts the local economy

 

[Evangelicalhumanist]

It seems pretty obvious that a living wage leads to more people living. And living means, generally, spending and contributing to the economy at large.

Doesn't seem like a bad thing to me.

 

[Twilight Hue]

Raising the minimum wage is good but it sometimes leads to employers being more selective in who they hire.

Not only that but they will raise prices to pay for the increase effectively defeating the entire reason minimum wage was raised. It will be back to square one all over again.

 

[Twilight Hue]

It seems pretty obvious that a living wage leads to more people living. And living means, generally, spending and contributing to the economy at large.

Doesn't seem like a bad thing to me.

It isn't, but its hopelessly rigged so no one will be able to enjoy a proper living wage.

 

[Evangelicalhumanist]

It isn't, but its hopelessly rigged so no one will be able to enjoy a proper living wage.

Well, why not ask yourself how (or by whom) it is hopelessly rigged? Every once in a while, I remember that the rich people are just about exactly as nutritious as the poor ones. Killing critters for no reason is not nice, but most of humanity is okay with killing them for eating.

 

[Shadow Wolf]

Not only that but they will raise prices to pay for the increase effectively defeating the entire reason minimum wage was raised. It will be back to square one all over again.

This argument is tired and wants to go home so it can quietly die in a corner.
Does Raising the Minimum Wage Increase Inflation?

According to a recent piece of economic research that examined the effect of prices on minimum wage increases in various states in the U.S. from 1978 through 2015, they found that a 10% increase in minimum wage only accounts for around a 0.36% increase in prices.1 Moreover, increases in prices following minimum wage hikes generally have occurred in the month the minimum wage hike is implemented, and not in the months before or the months after. Interestingly, they find that small minimum wage hikes (e.g. on the order of 5-15%) do not lead to higher prices, and they might actually lead to lower prices.

 

[Twilight Hue]

This argument is tired and wants to go home so it can quietly die in a corner.
Does Raising the Minimum Wage Increase Inflation?

Hard to discount in an age of 9 to 10 dollar McDonald's meals. Each.

 

[Tambourine]

Don't you know, it's always bad when poor people have more money.

If poor people deserved money, they wouldn't be poor, after all.