View Poll Results: Should min wage be removed?

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  • Yes

    28 31.46%
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    61 68.54%
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Thread: Should min wage be removed?

  1. #171
    blond bombshell

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    Re: Should min wage be removed?

    Im asking for ya to show where the jobs will come from not the voodoo economics libertarians like to use.
    The third-rate mind is only happy when it is thinking with the majority. The second-rate mind is only happy when it is thinking with the minority. The first-rate mind is only happy when it is thinking.

  2. #172
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    Re: Should min wage be removed?

    Quote Originally Posted by mikhail View Post
    Im asking for ya to show where the jobs will come from not the voodoo economics libertarians like to use.
    Let me do the research that you should have done.

    Quote Originally Posted by Wikipedia article on Luddite Fallacy
    According to neoclassical economists, labour-saving technologies will increase output per worker and thus the production of goods, causing the costs of goods to decline and demand for goods to increase. As a result, the demand for workers to produce those goods will not decrease. Thus, the "fallacy" of the Luddites lay in their assumption that employers would keep production constant by employing a smaller albeit more productive workforce instead of allowing production to grow while keeping workforce size constant.[1] Economist Alex Tabarrok summarises the neoclassical presentation of the fallacy as such:

    If the Luddite fallacy were true we would all be out of work because productivity has been increasing for two centuries.[2]
    You fail to realize that production creates its own demand! There is no situation where there is a permanent sector of the economy that it just out of work.

    Free-market economists adamantly disagree with the notion that mass unemployment is possible in a completely free labor market. Ludwig von Mises went as far as to claim that in a free market such thing as involuntary unemployment is impossible, since if one offers his labor for low enough a price he will always find a buyer.[17] Of course, knowing that the market is in constant disequilibrium, one recognizes that involuntary unemployment is not necessarily impossible but simply rare and based only on imperfect information.[18] In short, outside of the existence of imperfect information, in a free-market the only limitation to employment is an individual's reservation wage.

    Generally speaking, involuntary unemployment must be a product of government interventionism.[19] At its basis, involuntary unemployment is a product of disequilibrium between demand for labor and supply of labor, where the aggregate price of labor is too high relative to the aggregate demand for labor.[20] It stands to reason that such disequilibrium is likely to happen in the event of a cyclic fluctuation and from there we can logically deduct that the most efficient remedy to high unemployment is a fall in wages.

    As mentioned above, the Keynesian framework tends to regard long-term structural unemployment as involuntary. The reason why an individual, who has been unemployed for what we assume to be a very long time, cannot find a job is because his skills are no longer applicable to the trade he is looking in. Such unemployment is actually voluntary in nature, because while the individual may not be able to find a job with similar pay to his last, there are nevertheless employers looking for labor in industries that require less skill, even if these employers therefore offer a lesser wage. Or an employer may offer the individual a lesser wage, but in exchange offer him the relevant training necessary to acquire the demanded skills. The individual rejects this offer because it is under his reservation wage. As such, this type of unemployment is firmly voluntary.
    Affording the Unemployed - Jonathan M. Finegold Catalan - Mises Daily

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  3. #173
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    Re: Should min wage be removed?

    To REMOVE the Minimum Wage would be the SINGLE most assinine thing someone could vote more. In FACT it would be such a dumb-ass move that it defies logic. Anyone that would want to repeal it I feel would be an Enemy of the State because it would be like terrorism. It would screw millions of people PLUS screw the economy.
    CORPORATE GREED AND UNION GREED
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    DESTROYING THE BEST OF AMERICA ONE DAY AT A TIME

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  4. #174
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    Re: Should min wage be removed?

    Quote Originally Posted by The Giant Noodle View Post
    To REMOVE the Minimum Wage would be the SINGLE most assinine thing someone could vote more. In FACT it would be such a dumb-ass move that it defies logic. Anyone that would want to repeal it I feel would be an Enemy of the State because it would be like terrorism. It would screw millions of people PLUS screw the economy.
    Please read my previous post.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  5. #175
    blond bombshell

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    Re: Should min wage be removed?

    Quote Originally Posted by phattonez View Post
    Let me do the research that you should have done.



    You fail to realize that production creates its own demand! There is no situation where there is a permanent sector of the economy that it just out of work.



    Affording the Unemployed - Jonathan M. Finegold Catalan - Mises Daily
    Like i said i know your point but i dont agree.Or maybe i do agree but in a modern day scale your talking about having no employment for up to what 20-30% of Americans who would want to live in a society like that.By the way im not a complete amateur on economics I just dont believe Keynes can be disregarded and Libertarianism has the answers.
    The third-rate mind is only happy when it is thinking with the majority. The second-rate mind is only happy when it is thinking with the minority. The first-rate mind is only happy when it is thinking.

  6. #176
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    Re: Should min wage be removed?

    Quote Originally Posted by mikhail View Post
    Like i said i know your point but i dont agree.Or maybe i do agree but in a modern day scale your talking about having no employment for up to what 20-30% of Americans who would want to live in a society like that.By the way im not a complete amateur on economics I just dont believe Keynes can be disregarded and Libertarianism has the answers.
    Persistent unemployment like that is impossible! Did you even read what I posted?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  7. #177
    blond bombshell

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    Re: Should min wage be removed?

    Quote Originally Posted by phattonez View Post
    Persistent unemployment like that is impossible! Did you even read what I posted?
    You gotta understand i dont think it is impossible im asking for evidence like where are these jobs gonna come from? Im disagreeing with the theory.As in i think its outdated by the current and future reality.
    The third-rate mind is only happy when it is thinking with the majority. The second-rate mind is only happy when it is thinking with the minority. The first-rate mind is only happy when it is thinking.

  8. #178
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    Re: Should min wage be removed?

    Quote Originally Posted by mikhail View Post
    You gotta understand i dont think it is impossible im asking for evidence like where are these jobs gonna come from? Im disagreeing with the theory.As in i think its outdated by the current and future reality.
    Workers produce, and what they produce can be sold (either directly or indirectly), so a new employee brings in a certain amount of money for a company right?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  9. #179
    blond bombshell

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    Re: Should min wage be removed?

    Quote Originally Posted by phattonez View Post
    Workers produce, and what they produce can be sold (either directly or indirectly), so a new employee brings in a certain amount of money for a company right?
    Yes but if you own a business and can cut down on your staff and replace them with a machine you should do so right?
    The third-rate mind is only happy when it is thinking with the majority. The second-rate mind is only happy when it is thinking with the minority. The first-rate mind is only happy when it is thinking.

  10. #180
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    Re: Should min wage be removed?

    Quote Originally Posted by mikhail View Post
    Yes but if you own a business and can cut down on your staff and replace them with a machine you should do so right?
    Let's not get ahead of ourselves. So employees bring a certain amount of money into the company. So then companies would like to pay a little less than what the worker produces for the company so that they can make a profit, right?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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