Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (206466)	10/14/2004 7:44:45 AM
From: Joe NYC	of 1575994

combjelly, My guess is that the macroeconomic models aren't very good, but... There are so many different variables at play that it is impossible to pin down any macro economic result on a single input. That's why the studies never seem very conclusive. One thing about the minimum wage increase is that it is generally wrongly percieved, and that leads to mostly wrong conclusions. The misunderstanding is that someone (a politician of all people) is giving minimum wage earners a raise. The correct definition of the minimum wage and its increase is ban on any labor that has market value below the threshold. Once you start thinking about it in terms of a ban on work, you can't help but wonder how it is beneficial to ban people from working for some meager wage, and what kind of alternative there is for the people who were banned from working. How is it better these people are no longer working. Joe

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