4 ms·
Reducing the number of hours/jobs that people currently work would reduce the labor supply and wages would rise (Econ 101). I don't see how these "consequences"
by squidproquo 6y ago
Reducing the number of hours/jobs that people currently work would reduce the labor supply and wages would rise (Econ 101). I don't see how these "consequences" are a bad thing.
Furthermore, "unforeseen consequences" are effects that we don't know will happen because they lie beyond our ability to predict them. There will always be unforeseen consequences of any major policy decision.
- pylua 6y agoFor instance, rising wages potentially implies services will cost more. At what point does the income received stagnate relative to cost of living ?