Minimum Wage destroys jobs--again!

Darth Rotor said:
The bolded part is industry dependent. You can probably count on it in a service intensive industry, but you may see an increase in productivity, and a smaller employee count, in more manufacturing or production based industries.
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But an increase in productivity would push Long Run Aggregate Supply to the right, thus lengthening the amount of time for the business cycle to reach full production. So you end up with the same effect. Remember, we're talking economy-wide here.

The other comment is the time factor between the change in policy, or the change in the macro level factors, and the implementation of the new paradigm. The length of that transition time is not trivial, in either the political nor the economic sense.
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But no amount of force can make it happen any faster. The only thing it can do is make the problem worse.
 
luchog said:
Yes, and in a free market, the balancing force is collective bargaining, also known as "Unions". No government intrusion necessary.
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Unions, yes, but even without them there's still an equilibrium that the potential workforce is going to end up influencing. Again, pricing above or below the equilibrium just causes problems (actually, there is an incentive to price wages slightly above equilibrium; that's covered in the thread I linked to).
 
burnvictim77 said:
Exactly like it. It's called freedom of choice.
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The biggest brains on this bbs for the most part disagree, see any of the smoking ban threads around here

Apparently, with all the intellect they claim to have, they are FORCED to go into smoking bars, even if they dont like smoking.
 
No, they aren't. They can go to another bar, or go do something else entirely.

Why does the bar owner's freedom of choice mean nothing?
 
Admiral said:
What ARE you claiming?
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In regard to the thread in general: Minimum wage is bad, both in its means and ends.

In regard to what pipeline was arguing: Closed shops are not force, nor are they a violation of free market principles.
 
burnvictim77 said:
In regard to the thread in general: Minimum wage is bad, both in its means and ends.

In regard to what pipeline was arguing: Closed shops are not force, nor are they a violation of free market principles.
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Whoops! I agree with you. I thought pipeline did too (sometimes extensive sarcasm makes it hard to gauge).
 
I dont understand what you are asking really, Im not trying to Clauseinate the thread...maybe I sidetracked
 
Been gone for a week or so, so I've skipped merrily past pages two through seven here. If this point has been made already, someone smack upside the head and I'll go back to work instead of wasting the taxpayers' money:

Let's say the minimum is $5.15/hour. The idea of the minimum wage assumes that all labor is worth at least $5.15/hour, that any work any employee does is worth at least $5.15/hour to the employer.

Are there any minimum wage supporters here who believe that all work is worth at least $5.15/hour?
 
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