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

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

    Quote Originally Posted by Henrin View Post
    The most celebrated economist of the 90's? Who was that?
    Greenspan.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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

    Quote Originally Posted by KevinKohler View Post
    Greenspan.
    His views worked real well on the housing bubble.

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

    Quote Originally Posted by US Conservative View Post
    It equals increased costs to the employer-which will be passed on to the consumer or come out of the pockets of the employee.
    That's possible.

    It could also result in a higher rate of demand, increases in business sales, expansion of business, increased profitability, more jobs, more production, and more wealth production.

    We have had enough history of increases in minimum wage that historic evidence exists to prove which set of possibilities is the most likely to happen. The past is the best predictor of the future.
    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 KevinKohler View Post
    Firing people and replacing them with machines would be the result even if the MW were set at 2 bucks an hour, PERIOD. Even China is moving towards automation. Would you have us accept the living standards of the typical Chinese worker in order to laud your so celebrated economic beliefs? I volunteer YOU to go first.
    ....were that the case, then it would already have happened. You replace labor with automation as labor becomes more expensive than automation. I'm not sure how accelerating that process with artificial price floors on labor is a net benefit.

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

    Quote Originally Posted by Henrin View Post
    His views worked real well on the housing bubble.
    And he is a...no...he is THE "chicago" economist.


    A school of thought being parroted around on these forums quite often, by these same people.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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

    Quote Originally Posted by KevinKohler View Post
    If they need help that they don't have, as in, there is work that needs done that ISN'T currently being done due to a lack of help, then they are losing business, or soon to go OUT of business. What you are asking is, Do I think there are employers out there who would like to not have to work as hard, but aren't willing to part with the extra cash they make to make it happen?


    Imagep, you are an employer. Wouldn't you just love it if you could pay a guy to manage your store, so you could retire...right now? But you don't do so because, that would likely mean 40K a year or more LESS in your pocket. Yes?


    And the answer is yes, absolutely, but that answer remains yes even if the minimum wage were set much much lower.
    Exactly.
    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 KevinKohler View Post
    How will it come out of the pocket of the employee?


    And if all additional costs to operate are passed on to the consumer, than how on earth did anyone ever believe that competition in the market keeps prices at the lowest possible level?


    You guys need to keep your theories strait.
    Jesus dude.

    How about less hours worked, and less new hires? That or higher prices are the options.
    And if an employer does NOT do that, they are less competitive and eventually may lose out to competitors because of higher operating costs.
    The left does this for votes, and if it punishes capitalists at the same time, so be it.

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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
    ....were that the case, then it would already have happened. You replace labor with automation as labor becomes more expensive than automation. I'm not sure how accelerating that process with artificial price floors on labor is a net benefit.
    A machine will pay for itself in time and considering that it will produce more than many workers combined there is no reason to think keep wages low holds of automation for long.

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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
    ....were that the case, then it would already have happened. You replace labor with automation as labor becomes more expensive than automation. I'm not sure how accelerating that process with artificial price floors on labor is a net benefit.
    OK. So, then, we should all resign ourselves to a minimum wage of 2 dollars an hour, in the desperate and VAIN hope that we won't be replaced by machines, because machines aren't subject to OSHA, don't need sick days, insurance, unemployment, etc?


    No matter WHAT our wage floor is set at, machines are the way of the future...AUTOMATION is the way fo the future. Which would be fine by me, honestly, with the exception of ONE tiny little problem. Machines don't buy stuff.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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

    Quote Originally Posted by US Conservative View Post
    Jesus dude.

    How about less hours worked, and less new hires? That or higher prices are the options.
    And if an employer does NOT do that, they are less competitive and eventually may lose out to competitors because of higher operating costs.
    The left does this for votes, and if it punishes capitalists at the same time, so be it.
    Less hours worked? So you think that, due to an increase in minimum wage, people are going to suddenly consume less?


    I don't follow how you have logically come to this strange conclusion. Please explain.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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