Economics: Minimum Wage, Who Gets Hurt?

[Viktorthepirate]

Well, due to your urging I attempted my first wage negotiation. I asked my boss if I started taking classes if that would get me a raise. He asked what classes I planned to take. I told him, "dance classes." He said no.

I'm bad at this wage negotiation thing.

Ha ha ha

Legit asked him that, he laughed. Also asked if I started skipping while I worked, if they'd send me for a drug test, he asked if I wanted to be sent for a drug test. Asked him if I'd get paid for that. He said no. *sigh*

But he said they would probably send me for a drug test if I started skipping. I do it now and it makes my managers laugh. How you been man? Haven't talked to you in forever.

Been good, busy as all hell. Actually back in Seattle for a day on the 21st. How about you?

[Fife]

[Martin Hash]

He’s correct in the Keynesian connection but, like Keynes, does not account for Markets. It’s impossible to predict how many more Big Macs would be sold; only Market Forces can determine that, so putting the inflexible wage responsibility on the backs of the employer breaks the feedback loop. Now, if Government, or the lottery, were the source of the money, that would work.

[Speaker to Animals]

Setting aside his mistake in assuming how many people actually make less than fifteen dollars per hour..

Assuming you somehow could magically uplift everybody from poverty, the fast food sales should decline. At worst, for much of the working poor, shitty fast food like MacDonald's is an economy good. They would slowly begin to purchase better food if their means improved. For those who just like eating shitty food and dying relatively young, fast food is still a normal good. They do not purchase more food if their means improve. Most Americans are getting sufficient calories now; it is really a matter of eating tastier and more nutritous foods.

But, in general, food consumption is somewhat fixed. Americans tend to eat 3-5 meals per day of garying sizes, but their total caloric intake usually averages out the same at a weekly rate.

[Fife]

Some things to ponder about MCD and this "booming economy:"




Pass the McRib, tovarishch.

[heydaralon]

I have a solution to make LeninJedi happy.

Here is what I propose:

Let's just set the minimum wage to 0. If we do that, then the price of goods like milk will also drop to 0. He can buy anything, and not make anything, which is the Marxist dream. I make above minimum wage so this wouldn't affect me. I'd be poor, but if we lowered min wage I would now be able to buy just about anything I wanted, like a Buick Envision or a big mac. And it wouldn't cost anything. Its a win/win.

[C-Mag]

In the big picture.
If we don't find a way out of the Welfare-Warfare State we are currently in, we will collapse under own weight.

[Martin Hash]

Warfare is a great Jobs program.

Welfare has the problem of being quicksand, and discouraging Work Ethic, hence productivity. A Workfare replacement would solve that.

My definition of Workfare is government subsidized jobs. (No deficits, Government simply prints the money.)

[C-Mag]

Warfare is a great Jobs program.

Welfare has the problem of being quicksand, and discouraging Work Ethic, hence productivity. A Workfare replacement would solve that.

My definition of Workfare is government subsidized jobs. (No deficits, Government simply prints the money.)

Warfare is a great jobs program, but it's extremely expensive unless you are taking resources from those you are defeating on the battlefield and we aren't.

I completely agree with the biggest problem being discouraging Work Ethic and Productivity. Plus it throwing money into something with no return.

These problems killed Rome and will kill us if we can't break out of the cycle.

[Martin Hash]

Remember, I preach that money is imaginary, and can be printed at will as long as consumption=productivity, and there are Markets.