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Many economists would certainly support the idea of a minimum wage, so I hardly think it's fair to portray it as a settled matter..
by njs12345 16y ago
Many economists would certainly support the idea of a minimum wage, so I hardly think it's fair to portray it as a settled matter..
- CWuestefeld 16y agoYou're failing to differentiate between supporting a policy versus the truth of a scientific argument. It is pretty much accepted that minimum wage increases unemployment, although the effect may be small as pointed out elsewhere. But you may also believe that we should offer a well-designed safety net to those who lose their jobs as a result, and that these people can thus improve their skills to benefit themselves in the longer term. Thus, it's perfectly possible to believe scientifically that the effect as bad, yet still support it as a political policy. (note that I do not support it, but I can understand how someone might) It's been said elsewhere in this thread that even if Obamacare would work, the speaker feels that it's morally wrong to force other people to pay. So again, the scientific results don't necessarily determine the policy.
- yummyfajitas 16y agoAnd just to clarify, the effect of minimum wage on employment is small because virtually no one earns less than minimum wage anyway. A law saying "hey everyone, keep doing what you are already doing" won't have much effect, positive or negative.