They don't, generally as a class. They do have a lot of different opinions and you can find many who do disagree, but they don't generally disagree.
True. Forty years ago. But, in the past 3 decades, the issue has actually been studied. It seems that when the studies are well controlled, primarily by comparing areas with similar demographics and economies, raising the minimum wage has very little or no affect on those on the lowest rung of the economic ladder. Seems that there is a minimum staffing level to service a business and cutting staffing below that negatively impacts the business. Few businesses, especially small businesses, operate with excess staffing any more. It might have been true 40 to 50 years ago, but it certainly isn't the case now.
So, as a general class, for non-Austrian School economists, they don't agree with you on this issue.
We went from being in a recession, to having a recovery.
We went from a borderline depression to a recovery. In near record time. In many respects what happened was very close to what happened to Japan in the early 1990s. They are still trying to recover. Europe is still struggling. While things could be better, the recovery has been a lot stronger than anywhere else. |
