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Old 04-26-2019, 09:19 AM
 
Location: The Triad (NC)
28,195 posts, read 61,015,145 times
Reputation: 31591

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Quote:
Originally Posted by Elliott_CA View Post
Read my post again. The armchair economists have been saying and posting for years
that raising the minimum wage will also raise the overall unemployment rate.
I'm sure there are some people who have stated things so poorly...
but if you're gonna blame them for more than "internet overstating" you don't have much to go on.
Certainly not without quotes in context.
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Old 04-26-2019, 04:50 PM
 
7,984 posts, read 8,819,307 times
Reputation: 6287
Quote:
Originally Posted by Elliott_CA View Post
Read my post again. The armchair economists have been saying and posting for years that raising the minimum wage will also raise the overall unemployment rate. The chart I posted disproves their thesis. They were just as wrong as the people who said in 2012 that California was going to be the next Greece.

If you are suggesting that California's unemployment drop was composed of increased hiring at high-paying jobs at large enough numbers to offset losses of minimum wage jobs, I'm not aware of any evidence or facts to support that.
Proofread and then repost. Your first point is logically flawed vis a vis your earlier arguments.

Regarding your second point I'd ask you to spend an hour looking over CA's employment metrics across the wages over the last few years. If you can't find high confidence data I'll send/link you some.
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Old 04-30-2019, 09:05 PM
Status: "FBI: more roast beef!" (set 4 days ago)
 
Location: Clyde Hill, WA
2,685 posts, read 462,020 times
Reputation: 818
Quote:
Originally Posted by Elliott_CA View Post
Read my post again. The armchair economists have been saying and posting for years that raising the minimum wage will also raise the overall unemployment rate. The chart I posted disproves their thesis. They were just as wrong as the people who said in 2012 that California was going to be the next Greece.

If you are suggesting that California's unemployment drop was composed of increased hiring at high-paying jobs at large enough numbers to offset losses of minimum wage jobs, I'm not aware of any evidence or facts to support that.
You can't prove your point with a chart of employment numbers. You don't know what the unemployment rate would have been with a different min. wage law.

Wage rates represent the price of labor, so min. wage laws (as generally implemented in the US) are a price control. Economists agree overwhelmingly that price controls are a bad idea:
https://www.econlib.org/library/Enc/PriceControls.html

Quote:
... economists are generally opposed to [price controls], except perhaps for very brief periods during emergencies. In a survey published in 1992, 76.3 percent of the economists surveyed agreed with the statement: A ceiling on rents reduces the quality and quantity of housing available. ... only 6.5 percent disagreed.
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Old 04-30-2019, 09:09 PM
Status: "FBI: more roast beef!" (set 4 days ago)
 
Location: Clyde Hill, WA
2,685 posts, read 462,020 times
Reputation: 818
The minimum wage as generally implemented is a sham and a political scam. If done honestly, it would be implemented same as agriculture price controls, where the price is allowed to float according to the market, but if it drops below a certain minimum level, gov't makes up the difference with a subsidy paid to farmers.

Any high level politician has sufficient advice from staff who have studied econ to know this. Thus, any high-level (say US congress critters and up) who promotes the minimum wage is flat LYING TO YOU.
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Old 04-30-2019, 09:12 PM
Status: "FBI: more roast beef!" (set 4 days ago)
 
Location: Clyde Hill, WA
2,685 posts, read 462,020 times
Reputation: 818
Sweden has NO minimum wage, but most workers are unionized. With a union, workers have a team of experienced negotiators to get them reasonable wages in relation to market conditions.

The US minimum wage laws are a sham and a shame.
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Old Today, 04:41 AM
 
12,622 posts, read 9,780,389 times
Reputation: 9297
The real problem is that we have a totally outdated school system that spends 12 years teaching people to be production-line factory workers, but very few skills relevant in the modern world, nor even a modern way of doing things. Then we tell them they need four more years of school to improve their skills, but it was us that forced them to waste the first 12 years. They deserve better than this because their situation is involuntary (since people under 18 do not have the legal right to choose their own schooling).
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Old Today, 09:36 AM
 
8,439 posts, read 4,946,154 times
Reputation: 9424
Quote:
Originally Posted by ncole1 View Post
The real problem is that we have a totally outdated school system that spends 12 years teaching people to be production-line factory workers, but very few skills relevant in the modern world, nor even a modern way of doing things. Then we tell them they need four more years of school to improve their skills, but it was us that forced them to waste the first 12 years. They deserve better than this because their situation is involuntary (since people under 18 do not have the legal right to choose their own schooling).
Absolutely spot on.
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