Quote:
Originally Posted by slowmover
Too bad, isn't it, that the minimum wage -- properly set (one-half of the average wage) -- adds to the overall economy. Lifts people from poverty. And no jobs are ever lost as a result. But, since wages lost their connection to productivity, the minimum wage isn't enough to live on, much less start or start over in life.
|
A vague chart that suggests a corelation / causation relationship is hardly evidence against well established economic literature on the subject.
It is, in fact, impossible to count how many of anything is lost due to having made one decision over another. However, it follows that if someone is willing to work for a certain wage, but is unable to legally due so, they have been denied the right to work, and the job can be considered lost.
The fact that the US has an enormous undocumented work force that labors illegally for less than minium wage is testament to the demand for low wage work. Should these jobs instead be made available only to well-paid, college educated individuals?
I find it arrogant of anyone to tell me what minimal amount I am able to live on; just as I object to anyone that told me the maximum I'm allowed to earn. I'm entitled to earn whatever the market price is for the service I provide, absent any artifical manipulation.
To rationalize minimum wage, one must also rationalize maximum wage. Once this is reconciled to the mind, one realizes their utopia is socializm.
Quote:
Originally Posted by Frank Lee
How big is big enough? Is 500000 too small to have fun in? How about 1000000? How many 1000000 areas are needed to have lots and lots of fun?
|
Have you visited Manhattan Frank? I certainly prefer living in the country where the burden of rules, laws and deadlines is light, but I have to say, NY offers something spectacular that a smaller city can't. Mostly though, it offers economic possibilities.