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Politics : Formerly About Advanced Micro Devices
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To: Wharf Rat who wrote (919118)2/4/2016 11:19:33 AM
From: TimF  Read Replies (1) of 1574010
 
One fell swoop isn't necessary for it to be harmful, as long as the little steps, happen quickly enough to push the minimum price of labor sufficiently above the market clearing price.

Also even single small increases cause harm at the margin, just not always massive enough harm to create horrible unemployment, or even to prevent drops in unemployment if the conditions are generally favorable. If you were going to get 1.6 million new workers, and with the new higher minimum you only get 1.5 million new workers, the higher minimum still put 100,000 out of a job.
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