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I'm referring to the fact that the dominant economic perspective would oppose the idea that a rising minimum wage could be a good thing.
by spicyusername 3y ago
I'm referring to the fact that the dominant economic perspective would oppose the idea that a rising minimum wage could be a good thing.
- CyberDildonics 3y agoAgain, what specific problem do you have with the study other than going against your own personal conventional wisdom?
- paulddraper 3y agoFirst principles. Namely, supply/demand, and the effect of price controls. When you find perpetual motion, the question isn't whether it's wrong, but how it is wrong.
- CyberDildonics 3y agoOnce again, what specifically do you think is wrong with the study? If it's so easy to poke holes in it then do it instead of calling it 'perpetual motion' without even quoting any of it.
- paulddraper 3y agoI suspect the correlation is valid, but mistaken for causation. For example, areas with auto emissions tests tend to have worse air quality. Emissions tests don't cause worse quality, but air quality concerns beget emissions testing. Similarly, perhaps the areas that raised statutory minimum wage were areas had inherently rising wages/cost of living due to existing economic growth.
- spicyusername 3y agoI think you're misunderstanding. I'm making a joke about the fact that it's starting to feel like neoliberalism is just a hand wavy way for rich people to continue to get rich at the expense of everyone else. I have no issue with the article, just the opposite. Studies like these are demonstrating how we shouldn't assume popular economic theories are immune to scrutiny.