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Get behind the $15 minimum wage. Then the 8 hour day and 40 hour week. Those policies don't seem well targeted to help the permanently unemployed.
by zardo 10y ago
Get behind the $15 minimum wage. Then the 8 hour day and 40 hour week.
Those policies don't seem well targeted to help the permanently unemployed.
- Animats 10y agoThey're not. But they'll get a lot of working people off food stamps and Medicaid, freeing up welfare resources for people who aren't working.
- AnimalMuppet 10y agoIt will also take more people out of the category of "working people".
- Animats 10y agoGoldman Sachs disagrees. See link above.
- AnimalMuppet 10y agoThe Goldman link says that the overtime rules will add jobs. I agree. My comment was addressed to the $15 minimum wage, not the 40-hour week. The Goldman link does not address that at all that I could see. Why will the $15 minimum wage eliminate jobs? Basic supply-and-demand economics. When the price of something goes up, the usage goes down. (Unless you can make labor a Veblen good, where the high price increases demand. But that depends on status signalling. You could think about trying to make that apply to labor, but I think it would be rare to have cases where that worked.)