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I've taken college and graduate level classes in economics. I think I got A's in all of them. You need to read the part of the text book where "caeteris paribus" is defined and it explains just how many things were ignored to make that simply little graph with the two curves.
I don't believe you. Did you miss the question on the effects of raising the minimum wage?????? You can't get an A and miss that question. I simply don't believe it.
caeteris paribus says nothing about what you are trying to say. Again, where is your source and evidence? Quote me a college text book.
Even still, raising minimum wage will do absolutely nothing in the long run. Worse case scenerio is we end up with a case of stagflation. In theory, some folks will have more money in their pocket, although it will buy the less than before. If our economic woes could be solved simply by raising minimum wage, they would have raised it to $20/hr already.
[url=http://www.epi.org/publication/bp357-federal-minimum-wage-increase/]Raising the federal minimum wage to $10.10 would give working families, and the overall economy, a much-needed boost | Economic Policy Institute[/url]
Those studies are showing entire states and do not address the unemployment rate effect on low wage workers. They aren't addressing the micro issues that are the effects on low wage workers. Until these articles are standard knowledge in Economic textbooks.....keep trying. No one cares about some Op-Ed opinion.
Until these articles are standard knowledge in Economic textbooks.....keep trying.
I've got a bunch of textbooks in the basement that say East and West Germany are separate countries. Should I go yell at the op-ed people writing about a single German government.
An analysis of supply and demand of the type shown in introductory mainstream economics textbooks implies that by mandating a price floor above the equilibrium wage, minimum wage laws should cause unemployment.[17][18]
You are dealing with THEORIES. What type of institution would graduate you?
Let me guess... Psychology, politics and sociology are hard sciences too
You are dealing with THEORIES. What type of institution would graduate you?
Let me guess... Psychology, politics and sociology are hard sciences too
Yes. Only in extreme circumstances does it not behave in this way. On large scales this does happen though. So if this doesn't happen in 1 of 1000 mcdonalds, that is irrelevant. Again, what college textbook is your opinion taught in? Sorry... I win. Give up already. You aren't one of those people who doesn't believe in evolution because it's a theory are you?
I've noticed a pattern with the min wage supporters. They keep using extremes to try to prove their points, like "terrible effects" and "Implode". They point out no independent data or studies to prove their points. See my post #22 for facts.
Dude. Some of us like to eat dinner without posting to C-D for a moment.
You were the one who started with the absurdities, like raising min wage to $100.
Yes. Only in extreme circumstances does it not behave in this way. On large scales this does happen though. So if this doesn't happen in 1 of 1000 mcdonalds, that is irrelevant. Again, what college textbook is your opinion taught in? Sorry... I win. Give up already. You aren't one of those people who doesn't believe in evolution because it's a theory are you?
I've had more intellectually stimulating debates with my 3 year old nephew.
Once again, you are spouting "suggested outcomes" supported by absolutely nothing more than opinions.
If McYD's was faced with a $1/hr wage hike, and they charged 12% more for their products, do you think people would all the sudden stop eating there? And labor is only one component of their total expense. In reality, the increase in a hamburger would be more like 5%. Did the economy explode when the capital gains tax break expired? Did the economy explode when the social security tax holiday expired?
I know this is hard to believe, but your opinion of what will happen has no influence on the final outcome. Please come back when you have facts... Which you cannot provide because economics is not a science. It is a topic to be debated, supported by evidence.
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