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You make assessments with no basis and you want others to answer to you with economic theory and data? EDIT: Parent comments have been heavily edited.
by louhike 9y ago
You make assessments with no basis and you want others to answer to you with economic theory and data?
EDIT: Parent comments have been heavily edited.
- CryptoPunk 9y agoI at least provide reasoning for my position. It's basic economic theory that wages are set by supply and demand. Demand only increases in the aggregate from increase in productivity. Creating a mandatory price floor simply leads to less than all of the supply being consumed (which means higher unemployment). That's what price floors do. What they don't do is raise aggregate demand (meaning they don't increase total wages paid out). >>This has nothing to do with price floors. The quintessential labour standard is a minimum wage, which is a price floor. This has everything to do with price floors. In fact all labour standards can be assigned a monetary value and the combined value can be considered a price-including-benefits floor. >>you're assuming that workers have a choice regarding where to work. That is simply wrong. I don't understand. Why do you believe they don't have a choice? >>So wrong that I understood your comment was a joke. I'm certain you were trying to mock me.
- porfirium 9y agoThis has nothing to do with price floors. In your first message, you're assuming that workers have a choice regarding where to work. That is simply wrong. So wrong that I understood your comment was a joke.