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| Topic | increases in the minimum wage lead to higher grocery prices |
| Balrog0 12/05/17 2:24:12 PM #27: | r4X0r posted... Labor is a commodity. When you increase the cost of a commodity, you decrease the demand for it. When you increase the minimum wage, you put people out of work. This isn't... conjecture or voodoo economics, it's plainly observable. you are citing one recent study and ignoring the body of research evidence which does not show this to be the case -- in fact, the very article I posted the abstract of shows that the companies in question did NOT eliminate jobs or reduce hours. They rose prices. These are two different things, with two different implications for the general welfare. Which is also a response to your next question: r4X0r posted... If raising the minimum wage is a good idea, why not make it $100? Everyone will be rich! Because the discussion is more complicated than that, obviously. Questionmarktarius posted... But, the critical flaw is that there's no obligation to hire or continue employing. It punishes the very people it's intended to help, if their labor isn't worth the mandatory price floor, by making them effectively unemployable. this is also cherrypicking one favorable study and ignoring all the rest. I do agree more with the next article, that the minimum wage disproportionately crowds out the low-skilled, younger, minority workers. The question is an empirical one, though, and they don't really do any empirical work here (the little bit they do ignores plenty of other things that were going on in labor markets at the time, like the fact that the industrial revolution happened in the timespan they are discussing lol) --- He would make his mark, if not on this tree, then on that wall; if not with teeth and claws, then with penknife and razor. ... Copied to Clipboard! |
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