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re: More evidence why you should oppose the "national" minimum wage hike ...
Posted on 4/2/14 at 1:10 pm to RedStickBR
Posted on 4/2/14 at 1:10 pm to RedStickBR
But a ton of folks in Baton Rouge will win from this, no?
Posted on 4/2/14 at 1:11 pm to Eurocat
quote:
But a ton of folks in Baton Rouge will win from this, no?
And others would lose. Unemployment would rise.
Posted on 4/2/14 at 1:18 pm to Eurocat
No, not really. It will probably lead to greater unemployment as this wage price is not at the point of market equilibrium that COL would require. Thus, employers will likely be forced to cut jobs.
Both workers and employers benefit from a strong local economy. And to have a strong local economy, you need conditions suitable to both workers and employers.
This policy, by failing to adjust for COL, hurts workers more than necessary in some areas and hurts employers more than necessary in others. Let's assume for the purposes of discussion it's an undeniable truth that a minimum wage hike to a $10.10 national average is "necessary." With this policy, workers in NYC are paid less than is "necessary," and employers in BR must pay more than is "necessary."
Thus, unless you're in an area where $10.10 is also your COL-adjusted equilibrium wage, i.e. your COL is at the national average, your economy is likely to see weakness wrought on by either pressure on labor suppliers or labor providers (relative to the rest of the country).
In all liklihood, this policy is a net negative to our country's economic well-being, even if you could argue that a $10.10 national average minimum wage would be positive were it otherwise applied on a COL-adjusted basis.
Both workers and employers benefit from a strong local economy. And to have a strong local economy, you need conditions suitable to both workers and employers.
This policy, by failing to adjust for COL, hurts workers more than necessary in some areas and hurts employers more than necessary in others. Let's assume for the purposes of discussion it's an undeniable truth that a minimum wage hike to a $10.10 national average is "necessary." With this policy, workers in NYC are paid less than is "necessary," and employers in BR must pay more than is "necessary."
Thus, unless you're in an area where $10.10 is also your COL-adjusted equilibrium wage, i.e. your COL is at the national average, your economy is likely to see weakness wrought on by either pressure on labor suppliers or labor providers (relative to the rest of the country).
In all liklihood, this policy is a net negative to our country's economic well-being, even if you could argue that a $10.10 national average minimum wage would be positive were it otherwise applied on a COL-adjusted basis.
This post was edited on 4/2/14 at 1:18 pm
Posted on 4/2/14 at 2:37 pm to Eurocat
quote:Again, I think that's at best a wash. Sure. Many making min-wage would get a raise but AGAIN, that doesn't actually expand the amount of resources the individual business had available for hiring people in the first place. Hence, unless the business is going charity on us, that simply has to have an effect elsewhere. Higher prices, fewer people hired, some let go......likely a combination of all.
But a ton of folks in Baton Rouge will win from this, no?
Why do people think this isn't reality?
Posted on 4/2/14 at 3:20 pm to Eurocat
And if what you're arguing is the "fairness" angle that the President has told you to argue, you should be jumping up and down screaming, "Workers in New York are getting screwed!"
Right?
Right?
This post was edited on 4/2/14 at 3:20 pm
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