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The only positive argument that is ever made for minimum wage is that sometimes it does not have a perceivable adverse effect in a strong economy. There is neve
by macspoofing 7y ago
The only positive argument that is ever made for minimum wage is that sometimes it does not have a perceivable adverse effect in a strong economy. There is never an attempt to explain the cases where there is a minor or major adverse effect.
Even when it doesn't noticeably hurt, a minimum wage doesn't actually make anything better. It doesn't improve poverty rates. It doesn't improve employment rates. It doesn't lift anybody out of poverty. It has no beneficial, measurable side-effect. And there is plenty of economic research that shows it hurts more than it helps. Just like rent control, it is popular with progressives because it 'feels' right.
>In fact, some people — including those from the Economic Policy Institute — have posited that a minimum-wage increase will actually lead to an increase in employment because of the effects of giving low-wage workers a raise. Other advantages to restaurants may include lower turnover rates and better job performance.
Why are we still speculating about this??? We've been studying the impact of minimum wage laws for decades. This is just hopeful thinking by progressives activists.
- fogetti 7y agoSomeone didn't do his homework today. Maybe you should go back to school if you skipped history lessons: > Minimum wage legislation emerged at the end of the nineteenth century from the desire to end sweated labor which had developed in the wake of industrialization.[19] Sweatshops employed large numbers of women and young workers, paying them what were considered nonliving wages that did not allow workers to afford the necessaries of life.[20] Source: Wikipedia And to respond to your question: We've been studying the impact of minimum wage laws for decades. Its clear that it imroves everyone's life substantially (even people who earn lot more). Why are we still discussing this? These comments are just hopeful thinking of regressive activists.
- macspoofing 7y agoJust because a policy emerged to fight specific conditions, doesn't mean that a) it was actually a good policy to do that and b) that those conditions still apply. So I'm not sure what that reference to sweatshops in the 1800s has to do with anything. >Its clear that it improves everyone's life substantially (even people who earn lot more) Ok. You know how to use search-and-replace. But I am serious. Since you're fond of Wikipedia, feel free to actually read the article on minimum wage[1], you'll see that it mirrors what I argued: in most cases, the minimum wage has detrimental effects (especially for low-income and young workers, employment rates in general, and small businesses), occasionally it has no perceptible detrimental effects. No evidence that shows it actually IMPROVES anything. [1] https://en.wikipedia.org/wiki/Minimum_wage#Empirical_studies https://en.wikipedia.org/wiki/Minimum_wage#Empirical_studies
- IG_Semmelweiss 7y agoSpot on