6 thoughts on “Questions Which One Doubts Are Asked Frequently”
A $12-per-hour minimum wage in the United States phased in over several years would be in the same ballpark as Britain’s minimum wage today.
But $15 an hour is beyond international experience, and could well be counterproductive. Although some high-wage cities and states could probably absorb a $15-an-hour minimum wage with little or no job loss, it is far from clear that the same could be said for every state, city and town in the United States.
So, this esteemed economist is basing his case against $15/hr on the basis that it might not be a good idea. Convincing!
Also too, he says that $12 should be phased in over several years, at which point it will be on par with the UK's minimum wage — which assumes that their m.w. (and the cost of living) will remain fixed for however many years he thinks we should take for this phase-in. If you are going to be an economist, shouldn't both math and the passage of time be within your wheelhouse?
For those who don't want to burn a NYT visit on this story, the money graf from the article, which suggests raising the national minimum wage to $15/hour might have unknown consequences:
I am frequently asked, “How high can the minimum wage go without jeopardizing employment of low-wage workers? And at what level would further minimum wage increases result in more job losses than wage gains, lowering the earnings of low-wage workers as a whole?”
I love when "economists" don't know how business works. Business hire only enough people as they can get away with to get the job done without losing customers, preferably at the lowest wage possible (until you hit that tipping point of upper management). Businesses aren't going to can people they need to get the job done because they have to pay them more (they don't even need the motivation of the higher wage to fuck with the lives of minimum wage workers NOW — CF "on call"). Or is Mr. Economist saying that if we raise the minimum wage, businesses will switch to paying people off the books to circumvent that? Because modern business practices say that there aren't any spare minimum wage workers out there.
Many people ask me, "Is the wingnut economist argument that McDonald's will automate away all their low-paying jobs if we raise the minimum wage total bullshit or absolute bullshit?"
So, this esteemed economist is basing his case against $15/hr on the basis that it might not be a good idea. Convincing!
<img src="https://s-media-cache-ak0.pinimg.com/originals/50/67/62/5067628ce8c943f74eae574ebc824b62.jpg">
Also too, he says that $12 should be phased in over several years, at which point it will be on par with the UK's minimum wage — which assumes that their m.w. (and the cost of living) will remain fixed for however many years he thinks we should take for this phase-in. If you are going to be an economist, shouldn't both math and the passage of time be within your wheelhouse?
The only people who ever ask that are definitely not being paid and/or trying to live on minimum wage.
For those who don't want to burn a NYT visit on this story, the money graf from the article, which suggests raising the national minimum wage to $15/hour might have unknown consequences:
I love when "economists" don't know how business works. Business hire only enough people as they can get away with to get the job done without losing customers, preferably at the lowest wage possible (until you hit that tipping point of upper management). Businesses aren't going to can people they need to get the job done because they have to pay them more (they don't even need the motivation of the higher wage to fuck with the lives of minimum wage workers NOW — CF "on call"). Or is Mr. Economist saying that if we raise the minimum wage, businesses will switch to paying people off the books to circumvent that? Because modern business practices say that there aren't any spare minimum wage workers out there.
Many people ask me, "Is the wingnut economist argument that McDonald's will automate away all their low-paying jobs if we raise the minimum wage total bullshit or absolute bullshit?"