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Well, the research studies only tell you: Raising a very little bit of the minimum wage reduces a very little bit of poverty in the short run, without discussi
by xname 13y ago
Well, the research studies only tell you:
Raising a very little bit of the minimum wage reduces a very little bit of poverty in the short run, without discussing any negative impacts to the society (in the short run or in the long run).
It is very different from "raising the minimum wage reduces poverty".
- stretchwithme 13y agoI doubt studies connect what happens to employment when a bubble collapses. It is then that the full effects of a drop in demand are felt and the new higher wage really causes demand to collapse. By then, everyone advocating this price control is long gone. Its a time bomb that explodes in the faces of low wage workers, preventing them from repricing their services to mer the new conditions. Of course, smaller, smarter countries like Ireland figured that out and cut their minimum wages in response to the lowered demand.
- lowkeykiwi 13y agoand all those who advocate for raising the minimum wage are only asking it to be raised relative to inflation and not much more. its also why the strawman (that's been used twice in these posts already) of 'why dont we raise it to $100 then?' is silly and doesn't help the discussion.