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

  1. #461
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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
    And here I thought a market crash cost all those jobs...
    I 'bout pulled what hair I have left out upon reading that moronic declaration.


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

    Quote Originally Posted by buck View Post
    Good thing we have studies to determine what really occurred rather than just taking what Kevin thought occurred as gospel.

    This study, whether you choose to believe it or not, determined that about 15% of the lost jobs were due to the minimum wage hikes.

    So while that decline may look like it was all recession, in reality it was around 15 percent due to the minimum wage, according to this paper.
    Did you purchase the study and analyze it? Or is just having a study out there to cite sufficient for you?

    Most of the cited 'studies' are of loss of jobs after MW hikes. Do you supposed there are just as many 'studies' that show the contrary?
    Last edited by 1750Texan; 12-20-14 at 09:30 AM.


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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


    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.
    Again, you are talking about micro-economic solutions, not macroeconomics.
    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 DA60 View Post
    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.


    Words of wisdom that should be passed on to every new college student.
    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 imagep View Post
    Again, you are talking about micro-economic solutions, not macroeconomics.
    Again, you are lost in a text book. How's that working for you?

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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
    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.
    No, you did not. Do you have experience with a national economy? Explain.

    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 imagep View Post
    Again, you are talking about micro-economic solutions, not macroeconomics.
    Again, I am not an economist. I'm a truck driver. But, I can see how things effect my kids, my work, my investments, etc

    Us working stiffs out here aren't blind, or dumb Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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

    Quote Originally Posted by j-mac View Post
    Again, I am not an economist. I'm a truck driver. But, I can see how things effect my kids, my work, my investments, etc

    Us working stiffs out here aren't blind, or dumb Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession
    I mean no disrespect, but cause and effect is often difficult to see. Sometimes we mistake one thing as the cause when it is really something else. This is pretty common. That is why people study economics in different ways.

    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 j-mac View Post
    Again, I am not an economist. I'm a truck driver. But, I can see how things effect my kids, my work, my investments, etc

    Us working stiffs out here aren't blind, or dumb Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession
    No, of course not.

    But both micro and macro economics effects just about everything. Your kids (and mine) would be well advised to make good micro-economic choices in life. Like not spending more time and money on education than their career requires, and working hard and saving money, and not taking on stupid debt. But macro-economics also effects them, they just can't do anything about macro-economics, unless they get into a position where they have significant influence over government policy.

    While micro and macro economics effect each other, individual solutions are micro-economic and may not effect the macro-economy much at all. The importance of macro-economic has to do much more with governmental policy, which can effect EVERYONE, regardless of their personal microeconomic decisions.
    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. #470
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    Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

    Quote Originally Posted by CMPancake View Post
    Why bother with history when one can simply revision it?
    History is SUPPOSED to be revised. You get more information. People start questioning the story. Look at new information received. That kind of thing.
    The Crowd is not the sum of its parts.

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