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That assumes no market rate for labor, and only government wage floors maintaining current wage levels, which given labor statistics, which show the unemploymen
by CryptoPunk 8y ago
That assumes no market rate for labor, and only government wage floors maintaining current wage levels, which given labor statistics, which show the unemployment rate being extremely low, and the vast majority of jobs paying above minimum wage, is clearly not true.
- pc86 8y agoIt's probably best to avoid the word "clearly" on topics where economists with PhDs can disagree widely and come to drastically different conclusions from the same data.
- CryptoPunk 8y agoEconomists don't disagree widely on there being a market rate for labor. This is a basic economic truism.