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Politics : Right Wing Extremist Thread -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (15588)	9/4/2001 12:45:28 PM
From: dave rose	Read Replies (1) \| Respond to of 59480

<<The state doesn't expect the employer to lose money but rather to raise prices. >> This does not jibe with my understanding of Econ. 101. Raising prices may make you unable to compete and you must fold the business. Imports will take your place, or a substitute product will be used.

To: Lane3 who wrote (15588)	9/4/2001 12:55:34 PM
From: DMaA	Read Replies (1) \| Respond to of 59480

You can raise prices somewhat in certain elastic markets. What actually happens more often is that the remaining employees work harder to get the job done. I have said, only half joking, that an unintended consequence of minimum wage laws is that productivity is bumped up.

To: Lane3 who wrote (15588)	9/4/2001 1:08:39 PM
From: TimF	Respond to of 59480

The employer can raise prices enough to get the extra value out of the job and we all end up paying a little bit of the additional wages. Often the employer might not be able to raise prices in a competitive market. If the employer does raise prices other employers, who find themselves in the same situation will also raise prices. If prices are higher the value of the money is lower and the nominal raise caused by a minimum wage may not be an increase in real spending power. Tim