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You can't sit through an econ 101 course in college where the effects of minimum wage aren't thoroughly discussed as being negative. It's just a fantasy to sug
by jswinghammer 17y ago
You can't sit through an econ 101 course in college where the effects of minimum wage aren't thoroughly discussed as being negative.
It's just a fantasy to suggest that it isn't harmful to marginalized workers like minorities.
- prodigal_erik 17y agoEcon 101 gives a very easily understood prediction of huge, obvious disemployment effects which do not occur in reality. Something much more subtle, hard to measure, and not yet understood is happening instead.
- mos1 17y agoYour Econ 101 class must've been far more definitive than my Econ 600 classes. Econ 100 -- Keeping all other variables the same, if the cost of wages goes up, demand for workers goes down. Econ 600 -- When wages go up, the other variables do not remain the same, so a useful comparison must analyze the second-order effects to determine the change in aggregate demand for workers.