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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (498349)7/26/2009 7:22:53 PM
From: combjelly  Read Replies (3) of 1578122
 
"I could provide a list of links but you would simply discount them"

I would discount them because there are newer and better studies that didn't get swayed by conventional wisdom. A good example would be Florida with their 2004 increase in minimum wage. Not only were there no negative effects, employment boomed, especially in the lower wage ranks. And that study was hardly the only one. There was another one which compared fast food workers in New Jersey and Penn. after NJ raised their minimum wage by almost 20%. The net effect? Nada.

It is now believed by many economists that hikes in minimum wage have little or no negative effects.

Which makes sense. Labor is inelastic to a certain extent. No employer is going to lay off workers unless business slows down. It would be like closing because the price of tomatoes has gone up.

"So what's the point."

Understand. You don't like having your preconceptions shot down.
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