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06-19-2014, 04:50 PM | #1 | |
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So when states have some unique industry like fishing, which runs into unique problems like government limits/empty nets, driving the unemployment rate for that state higher than it's neighbors, that's an effect caused by minimum wage? I don't think so. There are too many factors contributing to the state rate to be saying it's cause and effect.
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06-19-2014, 04:49 PM | #2 | |
We have to go back, Kate!
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But can they be sure it was the minimum wage and not other economic factors working in parallel?
I was trying to find, but couldnt - there was an article about a month ago which seemed to show evidence to the contrary. The thing is - a 1.48 % increase in unemployment to me seems less damaging overall than huge swathes of employed people not being able to afford food. Also worth considering - is that a permanent increase in unemployment? Or is it a temporary rise immediately following introduction of the requirement that then settles back down as the minimum wage becomes accepted as the norm?
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06-19-2014, 05:03 PM | #3 | ||||
We have to go back, Kate!
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Not an unbiased source, but it brings together lots of studies (including a 2013 study by the University of Chicago:
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06-19-2014, 05:06 PM | #4 | |
Radical Centrist
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Also, I brotherylove you D, don't ever change. ~ with that outta the way ~ I agree that the new labor situation will put pressure on things other than workers. Everything is connected. Perhaps in our mythical business, the owners will not buy the new oven this year. Maybe they will take a lower wage themselves. Maybe they will raise the price of their burgers. Maybe they will do with one less cook. Maybe they will cook more hours themselves. Maybe they will have customers with more money who will absorb the price increase. Maybe with that new money they will hire more workers at the new wage. Stop, all the possible outcomes are overwhelming! Everything is connected. When you say "It just means they have to find their savings elsewhere" you have personalized a model business that jibes with how you want and expect it to work. We like to imagine that business, because these models that appeal to us. And they do help us to think about what's involved. But there are hundreds of thousands of business models out there, each one making hundreds of decisions every day. How do we know if our model business has anything to do with reality? Here's another model: imagine one person in an office in a major city, running a very large Excel spreadsheet, and saying wow: if we automate the drinks machine we pay $25000 per store, but we save $11000 in labor each year, and using the present value calculation with low inflation we will turn a profit in first quarter 2018. But even that is a cartoon of the economy, and a model that jibes blah blah blah. Ugh, I'm an hour into this, let me just post and walk away. |
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06-20-2014, 03:34 AM | #5 | |
We have to go back, Kate!
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Awww Tony, ya know I sisterylove you too :P
One thing to bear in mind though - is that according to those studies I linked to ; three quarters of those on minimum wage work for large companies, not small businesses. Small businesses are more likely to pay a fair wage than large corporations (small indy burger bar rather than McDs)
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06-20-2014, 07:43 AM | #6 |
Are you knock-kneed?
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And its those big corporations that are paying its CEO's billions off the backs of those minimum wage employees...reducing them to nothing more than wage slaves.
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06-20-2014, 03:29 PM | #7 |
The future is unwritten
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How else do you keep the rabble in their place. As soon as they're making a living wage they have extra time to start thinking, and we all know what happens when the rabble start thinking. Boston Tea Party? Ft Sumter? Alamo?
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09-22-2014, 04:16 PM | #8 |
The future is unwritten
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North Dakota is not thinking minimum wage.
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09-22-2014, 08:01 PM | #9 |
NSABFD
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Yeah. But, but They'er only hiring only 3 people. Rest is self check out lanes.
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09-23-2014, 07:49 AM | #10 |
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Sounds like amazing pay, but you can't live on those wages in ND because there is almost no housing.
You'd need to tow a camper with some nice insulation for the winter months and find a place to park it and let you hook it up. |
09-23-2014, 08:08 AM | #11 | |
Radical Centrist
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01-28-2015, 09:14 PM | #12 | |
barely disguised asshole, keeper of all that is holy.
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01-28-2015, 10:14 PM | #13 |
I think this line's mostly filler.
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Heh. The article is making the opposite claim, and the quoted paragraph was provided as counterpoint to the subject of the article.
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01-28-2015, 10:46 PM | #14 |
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I don't buy the bullet points pushed by pundits when "raising the minimum wage" is discussed.
One of the current hallmarks of today's economy is "high productivity" I think that just means that employers are getting more product out of every employee. But it also probably means they are paying the least amount of wages they can, and their employees are working about as hard as they can. If such is the case, employers are not as likely to lay off the workers they have now. If they did, there were be fewer products and lower profits. Consider a restaurant, if they laid off waiters/waitresses or cooks, fewer meals would be served, and profits would go down Instead, I think they will just pay the new minimum wages, and move on. |
01-29-2015, 07:57 AM | #15 | ||
Makes some feel uncomfortable
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I doubt it. American business isn't like Japanese business - they don't think long term. They see the short term improvement and think it will just continue. Six months later, they fold.
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