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Thread: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession

  1. #251
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by WallStreetVixen View Post
    There really isn't any need for it to exist at all. It is a price control. Government institute price controls for any number of reasons. Price controls negate the very concept of indexing it to inflation. You either want wages to be dictated by market demands or you don't. More often than not, the minimum wage defeats that very purpose less employers are willing to demand labour at higher prices.
    Wage floors are not price controls

    We have different terms for them because they're two different things.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Kushinator View Post
    Monopsony describes the low skill labor market.
    Thank you for making me Google
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by sangha View Post
    Yes, that's horrible compared to your "Here's nothing more. Now go starve, because I said so"
    I think you got that confused there. When you shut down job opportunities for young people, and lock people into a slot titled "Living Wage", "Here's nothing more" becomes your preamble and mission statement.

    That's rather hateful in my book.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Deuce View Post
    There's that phrasing again. "Supposed to."

    Why do people keep declaring that minimum wage isn't "supposed to" let you feed yourself?
    .....because it's not? The minimum wage was originally intended to price minorities out of labor competition in a move to protect Decent White Workers' Decent White Wages.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Kushinator View Post
    Monopsony describes the low skill labor market.
    That seems, on its face, to be so wildly inaccurate, that I can only assume you have a more complex argument that you are using this as a shorthand for.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by SlevinKelevra View Post
    do you have a source that can refute the data I linked from the bls?
    You have source data showing that 4 people are constantly competing for every 1 low-wage position?
    Ted Cruz is the dumbest person alive.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by cpwill View Post
    .....because it's not? The minimum wage was originally intended to price minorities out of labor competition in a move to protect Decent White Workers' Decent White Wages.
    Someone else said it was to boost demand, someone else said it was to outprice the value of child labor, someone else said it was to incentivize capital investment.

    I wish you guys could make up your mind.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by whysoserious View Post
    You have source data showing that 4 people are constantly competing for every 1 low-wage position?
    I think that statistic probably came from the peak of unemployment during the recession. Also Slevin didn't indicate it was only inclusive of low wage workers/jobs or that it is the norm.

    I have no reason to believe it is suspect, it sounds about right to me.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  9. #259
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by cpwill View Post
    That seems, on its face, to be so wildly inaccurate, that I can only assume you have a more complex argument that you are using this as a shorthand for.
    The wikipedia article indicated that it doesn't absolutely have to be just one buyer, just that the number of sellers have to significantly outnumber the amount of buyers. So it seems at least somewhat fitting to me. We have zillions of low skilled workers, but only so many employers that need low skilled employees.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  10. #260
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by imagep View Post
    The wikipedia article indicated that it doesn't absolutely have to be just one buyer, just that the number of sellers have to significantly outnumber the amount of buyers. So it seems at least somewhat fitting to me. We have zillions of low skilled workers, but only so many employers that need low skilled employees.
    By that standard, every form of employment is monopsony - it is a standard so broad as to be useless.

    I did MW wage labor in the restaurant, and landscaping industries. My brother did retail. How many businesses do you think there are in the restaurant, landscaping, and retail industries combined?

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