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Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaurant

Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

jdog said:
All dollars are loaned into existence! How can you not have inflation when all money is loaned into existence at interest!
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as I said the Fed can instantly create 100% inflation or deflation. Do you understand??? What's really silly is that the higher the interest rates the less money we get!!!
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

countryboy said:
That's for EACH DOLLAR IN WAGE INCREASES. The San Fransicko increase is much more than one dollar. Duh. :roll:
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If the restaurant across the street and the one down at the corner also have the same wage increase, why do you care? The lardasses will still waddle in with the next generation of supersized diabetics in tow.
Remember your first job? What was your wage, and what did a beer cost you? Wages and prices have been going up since there've been wages and prices, and people who just learned how to spell 'economics' and 'inflation' have been predicting the crash of the economy on the next wage increase since, well, since the first wage increase.
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

James972 said:
as I said the Fed can instantly create 100% inflation or deflation. Do you understand??? What's really silly is that the higher the interest rates the less money we get!!!
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You have no understanding of economics and appear incapable of learning anything, so I need to end this now and leave you to your own version of reality. Good luck, you will need it.
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

jdog said:
The problem is that the banks did not learn anything .
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wrong of of course 100% of economists would agree they are now far more solid than 2007
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

jdog said:
You have no understanding of economics and appear incapable of learning anything, so I need to end this now and leave you to your own version of reality. Good luck, you will need it.
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translation: My silly libertarianism from the 1920's was defeated and I will now run away with my tail between my legs. Next time someone asks you what controls inflation you can merely say: The Fed, which can easily inflate or deflate at 100% if it wants.
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

Grand Mal said:
If the restaurant across the street and the one down at the corner also have the same wage increase, why do you care? The lardasses will still waddle in with the next generation of supersized diabetics in tow.
Remember your first job? What was your wage, and what did a beer cost you? Wages and prices have been going up since there've been wages and prices, and people who just learned how to spell 'economics' and 'inflation' have been predicting the crash of the economy on the next wage increase since, well, since the first wage increase.
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That is all very interesting, but has nothing to do with artificially inflated minimum wages.

I was working long before my first official minimum wage job. But when I finally landed that fry cook job at the chicken place, it was $2.90 an hour. :mrgreen:
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

countryboy said:
That is all very interesting, but has nothing to do with artificially inflated minimum wages.

I was working long before my first official minimum wage job. But when I finally landed that fry cook job at the chicken place, it was $2.90 an hour. :mrgreen:
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Point is, raising the minimum wage doesn't mean anything to 'the economy'. Why would youcare if the teen-ager flipping your burger gets a buck and a half raise? Will the 15 cent increase in the price ofthe burger make you decide to go cook something at home? Never has in the past, and won't now.
The only effect of raising minimum wages is putting a little bit more money in the pockets of lots of consumers. For a while anyway. Of course this kind of thing increases creaping inflation but there's no way to stop that happening anyway.
That's why your first wage was so low and your first car so cheap.
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

Grand Mal said:
Will the 15 cent increase in the price of the burger make you decide to go cook something at home? Never has in the past, and won't now.
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wrong of course if price didn't matter owners would raise it immediately and enjoy the extra profits!! What holds them back? Prices are at or near break even to compete and to drive competition out of business. Capitalism 101
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

Grand Mal said:
The only effect of raising minimum wages is putting a little bit more money in the pockets of lots of consumers..
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you mean in the pockets of robots and kiosk makers in China.
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

James972 said:
wrong of course if price didn't matter owners would raise it immediately and enjoy the extra profits!! What holds them back? Prices are at or near break even to compete and to drive competition out of business. Capitalism 101
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Remember your first job? What was your wage? What did a beer cost you then?
Wages and prices have been going up since there was wages and prices. If the price of a greaseburger went up 15 cents everywhere the lardasses would still be herding their children into fast-fooderies and kids-mealing another generation of super-size diabetics. People with short memories and shorter familiarity with market economics have been predicting the collapse of the economy with the next wage increase since they learned to spell 'economy'.
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

James972 said:
you mean in the pockets of robots and kiosk makers in China.
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What do robots and Chinese kiosk-makers have to do with the minimum wage in the US?
 
Re: Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaur

Grand Mal said:
What do robots and Chinese kiosk-makers have to do with the minimum wage in the US?
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when labor costs rise and cost more than robots you use robots and eliminate workers
 
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