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That high minimum wages cause more unemployment is not a settled question, and there is research that suggests that this is, in fact, a myth.
by knieveltech 10y ago
That high minimum wages cause more unemployment is not a settled question, and there is research that suggests that this is, in fact, a myth.
- VLM 10y agoThat sounds rather unlikely. What would prevent the result of dividing revenue by hours worked from falling between 8 and perhaps 14? In quantum physics there's lots of hand waving, some of it true, about inaccessible states and distinct energy levels and such, but no explanation how that could apply to revenue numbers or timeclock numbers or the division operator or some mysterious combination. There might be a very local substitute effect where in a small enough area part of a large enough system, almost any arbitrary value can be applied and it'll be filled, as long as its a small enough area and a large enough system. Along the lines of 10000000 monkeys on typewriters might not produce Shakespeare anytime soon but you can expect the occasional short English language word in that stream fairly often.
- knieveltech 10y agoAs unlikely as that sounds there is, in fact, research that backs the assertion. Wiggle room in company profits and increased disposable income upping demand have both been pointed to as potential drivers. shrug IANAE (economist)