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

  1. #331
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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
    One company automating their entire business is somewhat logical since other industries will hold them up, but as more and more industries do it the returns to the strategy will decrease to the point that it is self defeating. Automation should after a certain threshold is reached defeat itself.
    Ideally that should be the case. But I can't seem to come up with a mechanism that would cause that.

    Let's say that you owned a widget making company, and virtually every industry had become as automated as possible, to the point that there were so few jobs, there were not enough consumers with money in their pockets to keep the economy going.

    So why would you decide to suddenly start replacing automation with human labor? That wouldn't do you a bit of good, because there are still too few consumers to keep your widget factory going. And where would you come up with the money to hire people? And do you really think that just your employees alone would purchase enough of the widgets that you made to keep themselves employed and still allow you to make a profit?

    It's a dilemma with no private sector solution.
    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.

  2. #332
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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
    Even if industry follows Lego's model in time the executives would notice their profits decreasing and be forced to switch business plans.
    I hope that's the case, but recent events force me to believe that executives simply don't care about their companies, as long as the bonus check clears in time.
    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.

  3. #333
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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
    If we had no taxes, and no government revenue, and no government spending, and thus no military, do you think that would be helpful in us maintaining our sovereignty?

    Thats not really pertinent to this discussion.

    Maybe you should look up "the fallacy of the excluded middle"
    Maybe you should answer the question. I think you remember what it is.

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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
    Should perfection not be a goal for us all? Should I NOT strive to achieve and live in a utopian society? Are you saying you DON'T want the best for your fellow man, that you DON'T strive for a utopian society, whatever that means to you?
    Why dont you start by trying to live in reality?

  5. #335
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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
    Even if industry follows Lego's model in time the executives would notice their profits decreasing and be forced to switch business plans.
    To what? Just shutting their doors?
    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.

  6. #336
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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
    Actually, my claim was the precise opposite. Books, look into them.
    "Ah but I at least I get you to realize that changing the cost of labor can be harmful,"



    That's your exact quote, smart guy. Can I call you smart guy? I'm gonna call you smart guy, from now on.


    Anyway, the above is your exact quote. I assume you now understand your error in reasoning.
    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.

  7. #337
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by Declan View Post
    Even before you got to that point the cost of tech support, upgrades, and licensing fees would probably make it largely self-defeating compared to what the cost of labor would become as more and more workers become available.
    Not with an established minimum wage, though...it forces labor to never fall bellow a certain wage, regardless of supply or demand.
    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.

  8. #338
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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
    I hope that's the case, but recent events force me to believe that executives simply don't care about their companies, as long as the bonus check clears in time.
    Executives have the job of keeping the businesses profits up. It would take time, but after the threshold is reached profits would start to decrease. The only real issue is how long would it take them to realize the source of the problem. Would they be as clueless as Jcpenny and keep throwing stuff at the wall when the problem is right there in their face for all to see? You have to wonder how stupid executives really are sometimes.

  9. #339
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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
    I hope that's the case, but recent events force me to believe that executives simply don't care about their companies, as long as the bonus check clears in time.
    Most of them probably do care about their companies. But they aren't in charge of our macro-economy, and thus they don't attempt to change our macro-economy. The best they can do as individual companies is to do the best they can for their individual companies.
    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
    "Ah but I at least I get you to realize that changing the cost of labor can be harmful,"



    That's your exact quote, smart guy. Can I call you smart guy? I'm gonna call you smart guy, from now on.


    Anyway, the above is your exact quote. I assume you now understand your error in reasoning.
    I heart this double down, "professor".

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