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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Joe NYC who wrote (206432)	10/14/2004 12:52:56 AM
From: SilentZ	Respond to of 1574472

>I do know that from a microeconomical point of view. Yes, but remember that microeconomic theory assumes a vacuum. Then again, so does most macroeconomic theory... -Z

To: Joe NYC who wrote (206432)	10/14/2004 1:28:31 AM
From: tejek	Respond to of 1574472

You don't know that.........CA has one of the highest minimum wage in the country and its generates the most jobs. I do know that from a microeconomical point of view. Maybe from a micro POV but when you get to the macro level, there are other factors that are just as important......the supply and demand for a region's products, the quality and skills required of the local workforce, the technology of the product being produced, the quality of the living environment, educational amenities, etc. Minnesota has one of the highest average hourly wage rates in the country, and despite that fact, consistently has good job growth and low unemployment. Its because the quality of the workforce is good.....MN has one of the lowest hi school dropout rates in the country and a high percentage of people graduating from college. In addition, the infrastructure is well maintained and the quality of life is strong. The point is there are some intrinsic beliefs we hold that seem logical on the surface but as Z and CJ suggest, fail when put under closer scrutiny. Ultimately, good, well run companies do not mind paying for quality labor and a good working/living environment. For years, the cities of upstate NY have bemoaned the loss of jobs and have blamed it on NY state's high taxe rate. However, from my POV, the problem has more to do with them and their management. Those cities have often stinted on infrastructure improvements and have failed to remain competitive with other cities in the nation. Furthermore, they have not moved aggressively during changing times.........as their old industries moved out or folded, they failed to find new ones to take their place. Boston was once a shoe and clothing manufacturer. When those companies all moved to the South, Boston floundered until a hi tech industry was developed. Eventually, those textile and shoe manu. left the South and went overseas. NC adapted to those changes while SC did not......today, NC is a vital, dynamic state with a strong hi tech industry around Raleigh/Durham and a strong banking industry in Charlotte. By comparison, SC is a slacker. Yet they are basically from the same region and both started with nearly the same advantages and disadvantages. That's why I find such claims that an increase in the minimum wage will hurt the country to be specious. It really depends on other conditions. I firmly believe we are no better than the least of us. To hold back people because of misguided beliefs is just bad management IMO. And if the least of us is struggling, then the rest of us will not get very far as a nation.