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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (761869)1/6/2014 8:28:53 PM
From: neolib  Read Replies (2) of 1573927
 
The anti-minimum wage argument, hardly ignores dynamic effects, it relies on them. If there where no dynamic effects (beyond the initial forced increase) then minimum wages, and increases in such minimums might actually be a good idea.

You are confusing dynamic vs static. Dynamic effects are those that occur AS the change takes place, while static effects are the final steady-state condition. The anti-minimum wage argument is nearly 100% based on a claim that AFTER the dust all settles, the steady-state condition due to increased wages is either about the same (i.e. it just normalized out due to increased costs) or somewhat worse (again due to increased costs).
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