Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (106225)	6/4/2001 7:44:26 AM
From: flatsville	Read Replies (3) \| Respond to of 436258

Nope Don, no problem. a.) While I found the word "illegal" confusing it is beside the point. b.) After looking at the literature re: the study on the effects of "living wage" requirements in two contract situations in two cities there was no institutional unemployment as free marketeers predicted. In one city renegotiation of the contract resulted in virtually no unemployment among those workers at issue. The other city experienced 3%. c.) I think the mathematical reality is debateable. You claim that some jobs are destroyed. Again no hard nos. And CB's claim that an increase in minimum wage puts black teenagers out of work has yet to bear out. I think sector/geographical issues/problems not to mention the occasional bout of racism might explain the phenomenon better. Some jobs are never created? Perhaps, but we'll never know for certain. IMO this claim is based on the anecdotal threats of management and is repeated ad naseum before each increase. Yet they are still in business and hiring post increase. If slower job creation does happen it may have more to do with where the minimum wage increase occurs in the business cycle than any other factor. I think if you ask the average minimum wage worker if they would accept a 25% increase in pay in exchange for bearing the risk that at some point in the future the increase may result in job loss based an unproven economic theory which amounts to little more than a belief system what do you think he/she would say? Remember, some of these people are quite accustomed to taking risks. What would you call it when you get up in the morning to work an eight or ten hour day and have no idea where you will sleep that night?