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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (685739)11/20/2012 7:45:49 PM
From: i-node3 Recommendations  Read Replies (2) of 1576614
 
My favorite liberal copout, "Hey man, where's your peer reviewed article?" Translation: "Have university liberals agreed about it?" The answer, in this case, is "Yes."

You don't need a peer review of basic laws of economics. In fact, there is an 80/20 split among economists on the subject: 80% believe the that having a "minimum wage increases unemployment among young and skilled workers."

Unlike disputed topics (like Keynesianism), there is broad agreement on this subject.

I would point out that the Ds increased the minimum wage $2/hour -- surely the biggest single increase in history -- and we now have a million and we now have a total crisis in unemployment for young people and particularly young blacks.

At some point reasonable people will ask whether this is more than merely the current recession/depression causing the crisis. Is it merely coincidental with general economic conditions? Or is it a direct result of this ridiculous increase in the MW the Dems enacted and perhaps even exacerbating a milder recession that was already underway?

I'll say it isn't black or white whether the current crisis is a direct result of the MW increase. But there is zero doubt that the minimum wage does cause increased unemployment. And practically every competent economist knows this, since basic economic principles underlie it.
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