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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (761848)1/6/2014 6:33:51 PM
From: neolib  Read Replies (2) of 1573817
 
IMHO, the real question wrt to minimum wage is tied back to wealth concentration. In an economy with lower working wages and higher wealth concentration, I expect lower productivity over time and higher asset inflation. This is somewhat what is happening in the USA where the middle and lower class has less disposable income and so purchases less goods, while the top tier has a much larger fraction of the pie, but uses that income in much different ways.

The question is really whether distributed wealth makes for a more robust economy than concentrated wealth. Unfortunately, its mostly hand waving based on biases when people talk about this. Very little in the way of good data on the subject. Partly because one would need to see a few decades of data sans other factors, and that is hard to achieve.
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