2 ms·
> We still make choices in the absence of perfect information. The point is that imperfect choices are likely to be made with imperfect information. So, it's p
by anonytrary 6y ago
> We still make choices in the absence of perfect information.
The point is that imperfect choices are likely to be made with imperfect information. So, it's perfectly reasonable for people to be "for" and "against" the minimum wage being $44. Most people do not know the answer, so there's some consensus happening. Maybe every person should be part of direct consensus instead of a few people who are designated decision makers.
Humans appoint a few individuals to make decisions on problems that are not known at the time of being appointed, so it seems like imperfect consensus. Would people have voted differently in 2016 if they knew there would be a pandemic in 2020? Maybe. Maybe not. Systems should have ways of course-correcting on a much smaller scale than 4 years.
Guessing whether or not we should double minimum wage every few years doesn't work well. Numbers that don't take into account cost of living don't work. Why is the IRA income cut-off the same for someone who lives in Manhattan as it is for someone who lives in Omaha? The whole system seems off. Guessing a number for minimum wage and then mandating that until the next president updates it seems like the wrong approach.