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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 ocean515 View Post
    Throw out what you think you've been taught about micro and macro economics. All such knowledge does is provide reason not to do something, or reason to think you should. Better to trust wisdom and intuition. Those who can, do, those who can't, teach economics.

    Took me awhile to learn that.
    To be honest, you didn't address his point. Individual versus the entirety are two different things, no matter what label you give them. The individual solutions are not likely the same as what will help the whole of the problem.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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

    Quote Originally Posted by ocean515 View Post
    Then you're selling the wrong mix of crap. Production will ALWAYS exceed demand. A smart owner will find ways to DEAL WITH IT. I've managed to do that for over 30 years.
    So....if I change up the crap I'm trying to sell....people will have more money to buy it with?



    Again, I fail to understand your logic.
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    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 ocean515 View Post
    Throw out what you think you've been taught about micro and macro economics. All such knowledge does is provide reason not to do something, or reason to think you should. Better to trust wisdom and intuition. Those who can, do, those who can't, teach economics.

    Took me awhile to learn that.
    So the gist of your philosophy is that "book learning ain't no good" and that we should all think with our feelings instead of logic, knowledge or reasoning.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
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    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 Boo Radley View Post
    To be honest, you didn't address his point. Individual versus the entirety are two different things, no matter what label you give them. The individual solutions are not likely the same as what will help the whole of the problem.
    You, honest? LOL. Ok to be frank, I did answer the question. You apparently don't like the answer so you paint it with the same text book stuff economists are famous for being ignorant of. I provided my opinion based on experience. Economists are dreamers who don't have a clue. That's why the "Can/Do" statement applies.

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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
    So....if I change up the crap I'm trying to sell....people will have more money to buy it with?



    Again, I fail to understand your logic.


    I don't know if you're just being cute, or if you really don't get it.

    People will never have enough money to buy all the products a company wants to sell. That's a fact.

    If you change up your crap, you might find more people with money to buy it. You can't control the amount of money people have. What you can control is how many people want to buy your product.

    You mentioned hair cuts. What if the Barber teamed up with another store to offer a package deal at a better value? Both businesses benefit, the customer saves some money, and more customers come through the door. More customers, more profit, more employees. This is marketing at it's basic form.

    Let me offer a real world example. Many years ago I developed a product line to help sell rotisserie chicken in supermarkets. To help introduce this new "no leak" microwavable/ovenable container, I teamed up with a major chicken producer to cross brand my packaging. The super market benefited by the advertising printed on the carry handle I was willing to pack in the case with my product, and the chicken manufacturer benefited because it branded and marketed the quality of their product. Eventually my product design and style became a staple in super markets across the nation. You see them everywhere. The competition woke up and started producing a similar design, so my exclusivity only last a few years, but that is how it goes.

    I made that product at a time nobody used it. There was zero demand, and the material required to make the container hadn't been fully developed. I spent well over $1 million building the product line, building the tooling, and hiring the extra people. I created demand by gambling I was right. That is the reality of manufacturing and business growth. Throw the micro/macro blather out, it's worthless. Well, maybe not worthless, but 99% of the time, nothing but a passing thought as one applies a careful analysis of a business move.

    Imagine how many people have been hired as the simple result of a singular approach to a problem; sell more chicken.

    If you wait for people to come through the door, you've already locked 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 imagep View Post
    So the gist of your philosophy is that "book learning ain't no good" and that we should all think with our feelings instead of logic, knowledge or reasoning.


    Yea, that's it. That's the gist of my philosophy. Obviously your proving what "buk lern'n" has done for you. It's clear the comprehension thing has been mightily enhanced.

    The gist

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

    Quote Originally Posted by ocean515 View Post
    Throw out what you think you've been taught about micro and macro economics. All such knowledge does is provide reason not to do something, or reason to think you should. Better to trust wisdom and intuition. Those who can, do, those who can't, teach economics.

    Took me awhile to learn that.
    Me as well. Took economics at university. Taught me almost nothing that has helped in the real world.

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

    Quote Originally Posted by DA60 View Post
    Me as well. Took economics at university. Taught me almost nothing that has helped in the real world.
    Professors, (or their assistants who actually do most of the "teaching") want people to view their opinions as gospel, to be applied directly and forever to the student future efforts. At best, what is taught is merely a bit of additional knowledge from which to consider.

    My wife is a Lawyer. What she learned in Law School had little practical application to her practice. She will tell you what she learned in law school had more to do with the mechanics of law, and not the practice of it. Same thing with economics and other business principles taught in colleges and universities. My MBA was an interesting process, but it was the mechanics involved in pursuing it that had the greatest benefit. I'm not sure I would pursue it again, if I could do it over, but it seemed to be the right thing to do at the time.

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

    Quote Originally Posted by ocean515 View Post
    Professors, (or their assistants who actually do most of the "teaching") want people to view their opinions as gospel, to be applied directly and forever to the student future efforts. At best, what is taught is merely a bit of additional knowledge from which to consider.

    My wife is a Lawyer. What she learned in Law School had little practical application to her practice. She will tell you what she learned in law school had more to do with the mechanics of law, and not the practice of it. Same thing with economics and other business principles taught in colleges and universities. My MBA was an interesting process, but it was the mechanics involved in pursuing it that had the greatest benefit. I'm not sure I would pursue it again, if I could do it over, but it seemed to be the right thing to do at the time.
    Well, I didn't get an MBA.

    But I did learn a) how to drink quite a lot of alcohol and still be able to function properly the next morning; b) it's better to live near your frat house as opposed to actually at it; c) how to pass a course while only showing up for 10 minutes every class; d) be nice to everyone but trust no one completely; e) how to talk to most prof's where I found the right balance between (fake) admiration and honesty; f) to NEVER hit on girls you have a crush on. Become their friends (if you can) and let the rest just happen; and finally) not to sweat your GPA. Unless you know EXACTLY what you want to do AND it requires a solid-high GPA, don't worry about it. Just pass everything, try not to burn any bridges and have as much fun as you can without hurting others.

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

    Quote Originally Posted by DA60 View Post
    Well, I didn't get an MBA.

    But I did learn a) how to drink quite a lot of alcohol and still be able to function properly the next morning; b) it's better to live near your frat house as opposed to actually at it; c) how to pass a course while only showing up for 10 minutes every class; d) be nice to everyone but trust no one completely; e) how to talk to most prof's where I found the right balance between (fake) admiration and honesty; f) to NEVER hit on girls you have a crush on. Become their friends (if you can) and let the rest just happen; and finally) not to sweat your GPA. Unless you know EXACTLY what you want to do AND it requires a solid-high GPA, don't worry about it. Just pass everything, try not to burn any bridges and have as much fun as you can without hurting others.
    LOL. I can attest I took many of the same "classes", and gained a similar foundation of knowledge.

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