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The European economy is different in many ways, closer to home we’ve seen slashed hours [0] resulting in workers getting less overall take home pay, as well as

by donatj 7y ago

The European economy is different in many ways, closer to home we’ve seen slashed hours [0] resulting in workers getting less overall take home pay, as well as increased prices. Not only did it result in the poor making less but the cost of living went up. [0]: https://www.vox.com/the-highlight/2019/7/13/20690266/seattle-minimum-wage-15-dollars https://www.vox.com/the-highlight/2019/7/13/20690266/seattle...

markmark 7y ago
That article doesn't seem to say what you claim it says?
- donatj 7y ago
  > They found that the policy “reduced hours worked in low-wage jobs by 6-7 percent, while hourly wages in such jobs increased by 3 percent ... consequently, total payroll for such jobs decreased.” That means the total amount that employers paid to workers was less with the new minimum wage in place than projected payroll if the policy hadn’t gone into effect. Also > Surveying employers, Romich and other researchers found the most common response to the wage increase was to raise prices
Joe8Bit 7y ago
To wave a hand and dismiss the entirety of Europe's wage policy as 'different in many ways' is disingenuous. What Europe represents is a systemic approach to wage inflation at the low end; but this is also true for other countries with strong minimum wage guarantees (like Japan). Every-time they've been put in place in this systematic way it's led to greater economic mobility, greater employment rates and a lowering of the burden on social welfare systems; whilst having little demonstrable impact on long-term economic growth, and in fact, there's recent evidence to suggest they have net positive impacts on growth[0][1][2][3] What Seattle represents is a small isolated experiment within larger state, regional and federal contexts that effected its outcome. That's not to dismiss it's value, far from it, but to take as it some kind of definitive evidence is to weigh a grain of sand against a beach of contradictory evidence. [0]: https://equitablegrowth.org/working-papers/distributional-minimum-wage/ https://equitablegrowth.org/working-papers/distributional-mi... [1]: http://www.lse.ac.uk/business-and-consultancy/consulting/assets/documents/Low-Pay-and-In-Work-Poverty.pdf http://www.lse.ac.uk/business-and-consultancy/consulting/ass... [2]: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/601139/The_impact_of_the_NMW_on_employment_-_a_meta-analysis.pdf https://assets.publishing.service.gov.uk/government/uploads/... [3]: https://www.nber.org/papers/w25434 https://www.nber.org/papers/w25434

by donatj 7y ago

markmark 7y ago

That article doesn't seem to say what you claim it says?

donatj 7y ago
> They found that the policy “reduced hours worked in low-wage jobs by 6-7 percent, while hourly wages in such jobs increased by 3 percent ... consequently, total payroll for such jobs decreased.” That means the total amount that employers paid to workers was less with the new minimum wage in place than projected payroll if the policy hadn’t gone into effect. Also > Surveying employers, Romich and other researchers found the most common response to the wage increase was to raise prices

Joe8Bit 7y ago

To wave a hand and dismiss the entirety of Europe's wage policy as 'different in many ways' is disingenuous. What Europe represents is a systemic approach to wage inflation at the low end; but this is also true for other countries with strong minimum wage guarantees (like Japan). Every-time they've been put in place in this systematic way it's led to greater economic mobility, greater employment rates and a lowering of the burden on social welfare systems; whilst having little demonstrable impact on long-term economic growth, and in fact, there's recent evidence to suggest they have net positive impacts on growth[0][1][2][3] What Seattle represents is a small isolated experiment within larger state, regional and federal contexts that effected its outcome. That's not to dismiss it's value, far from it, but to take as it some kind of definitive evidence is to weigh a grain of sand against a beach of contradictory evidence. [0]: https://equitablegrowth.org/working-papers/distributional-minimum-wage/ https://equitablegrowth.org/working-papers/distributional-mi... [1]: http://www.lse.ac.uk/business-and-consultancy/consulting/assets/documents/Low-Pay-and-In-Work-Poverty.pdf http://www.lse.ac.uk/business-and-consultancy/consulting/ass... [2]: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/601139/The_impact_of_the_NMW_on_employment_-_a_meta-analysis.pdf https://assets.publishing.service.gov.uk/government/uploads/... [3]: https://www.nber.org/papers/w25434 https://www.nber.org/papers/w25434