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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (371588)	2/21/2008 7:38:15 PM
From: TimF	Read Replies (1) of 1576625

Its basic economics. Increase the price of something and you decrease the demand and/or increase people's incentive to work around the price increase. Which isn't to say that very modest increases necessarily have significant effects, they are more likely to have small effects at the margin (small enough to often be difficult to measure, depending on how low the minimum wage is before and after the change, and what the normal marketing clearing rate for unskilled labor would be). The effects of the current minimum wage are probably pretty modest, because its such a low wage, but try to put in a "living wage" (say enough to put a family of four above the poverty level if its the sole income for that family) and you decrese "on the books" employment (either by increasing work off the books, by decreasing total employment, or by a combination) (Note the change isn't automatically the biggest factor, if some large positive factor increases employment by a lot, you can still have a net jobs increase, your just decreasing the size of the increase when you increase the minimum wage, but a quick shift to a "living wage", would probably swamp any reasonably likely positive factors.)

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