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

To: combjelly who wrote (775821)	3/20/2014 11:17:52 AM
From: i-node	3 Recommendations Recommended By dave rose FJB TideGlider Read Replies (2) \| Respond to of 1579785

I have never read a more FOS statement in my life. >> Because, you know, they just hired the workers because they were cheap. They didn't really need them and they don't do much... They need them at one price. They don't need them at a higher price. Think of it in terms of you going to the grocery store. You see some nice filets over there at $50/lb. You'd like to have them but you recognize they're overpriced so you decide instead to buy some sirloin at a fraction of the cost. In the case of a worker you'd rather have a person doing a job. But because that person's labor becomes overpriced, you choose instead to buy another computer. This is precisely what we have been trying to tell you for years. It is precisely what Bill Gates told everyone last week. We do not need workers to do these jobs anymore; they are employed because the price makes it more attractive than doing something different. >> Minimum wage workers tend not to be fungible. You are nuts. The labor of minimum wage workers is the most fungible labor of all. A person taking orders at a McDs can walk into BK and be taking orders in no time. Such labor is beyond fungible, it is a commodity. >> So there only real recourse is to raise prices. Except that if a business raises prices, even a tiny bit, it will reduce sales. Which reduces demand for labor. And means that some people will not have jobs who had jobs before. Particularly businesses that tend to use commodity labor, which also (as it turns out) to have price elasticities that don't tolerate price increases well. CBO estimated a few weeks ago that if you raise the MW to $10, about 500,000 people will lose their jobs. And this is at least the fifth time I've explained this to you recently and not one of those times have you seen fit to reply. I'm starting to get the idea you don't HAVE a reply.