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

  1. #391
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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
    A price floor is not a wage floor.
    Wages are the price employers pay for labour/employment. Price floor = wage floor.

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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
    Understatement of the year

    But your post was obviously worded to appear to be exhaustive. Either you thought it was exhaustive, or your post dishonestly portrayed it as exhaustive even though you knew it was not

    I believe you were honest, and thought it was exhaustive until other posters schooled you on how business works
    Its remarkable that you know the telos of other posters. Magical even.

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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
    You're not saying anything but telling me what the law currently does. The intent, during the Great Depression, was to price child labour out of the market place. The goal was to ultimately eliminate child labor, but previous attempts have failed. The original FLSA didn't ban child labor. It placed limits on it. Originally, FLSA excluded children who worked in agriculture. As a result, children under 16 were priced out of dangerous industrial jobs and there was a surge in agricultural child employment.

    Plenty of books have been written on this...
    The law that passed in 1938, the same law which implemented the first MW at $0.25/hr, banned child labor so it didn't need a MW to price child labor out of the market.
    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 WallStreetVixen View Post
    Wages are the price employers pay for labour/employment. Price floor = wage floor.
    No, economists (and the link you posted) differentiate between wages and prices which is why they (and the link you posted) differentiate between price controls and wage controls.

    Try again
    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 US Conservative View Post
    Its remarkable that you know the telos of other posters. Magical even.
    Not so difficult when their motive and intent are transparent.
    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
    Not so difficult when their motive and intent are transparent.
    Sure thing.

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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
    No, economists (and the link you posted) differentiate between wages and prices which is why they (and the link you posted) differentiate between price controls and wage controls.

    Try again
    Where does it do that? Again, it says one of the main forms of a price control is a price floor, and it references the minimum wage while doing that. If prices has nothing to do with wages, and a price floor isn't a wage floor what is the minimum wage even doing in the same paragraph as a price control?

    Maybe its you who should be doing the trying...

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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
    The law that passed in 1938, the same law which implemented the first MW at $0.25/hr, banned child labor so it didn't need a MW to price child labor out of the market.

    It didn't ban child labour. It limited it. Later revisions to the FLSA removed child labour across all sectors.

    Plenty of books written on that too...

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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, everyone knows that it's called "minimum wage" because once you make that, you're "lock into" it and can't make more
    I was kind of hoping someone one with such substantial "credentials" here at DP could think with a little more clarity. When "living wage" gets plugged into the equation, how is an employee supposed to advance? Wait for the next determination of what it takes to live to come down the pipe? Who is going to vacate these "minimum wage" jobs so that new people (that's typically young people) can get their first jobs?

    If you think those locked into the newly determined "living wage" are going to see more opportunities to advance, what is holding them back from doing it now?

    It would be nice if rational ideas ever permeated from the invented from emotion liberal/progressive agenda. At least those ideas could be discussed with some degree of reality included in the discussion.

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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
    So jobs which go unfilled because there aren't enough people who know how to do them are experiencing monopsony?

    I think you need to go Google the meaning of the word again
    Do you have the reading comprehension to understand that I was demonstrating the failure of that application of the term "monopsony"?

    I don't need to google - Monopsony is the flip side of Monopoly - except where Monopoly means there is effectively only one seller, Monopsony means there is effectively only one buyer.

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