States That Raised Their Minimum Wages Are Experiencing Faster Job Growth reddit/r/politics/comments/29rius/states_that_raised_their_minimum_wages_are/ • Just to add, California had the highest job growth, and although it doesnt say this, the state actively raises the minimum wage here. I think the next deadline it goes to $10. • Also, unless I am greatly mistaken, California have raised at least some taxes. How much longer people will believe GOP BS? The answer probably - quite long... But I can not figure out why? • I dont think too many actually believe the bs about the economic policies of the republican party, but it is politically more accepted to pretend thats what it is about instead of admitting that the republic desire is people to have less economic freedom and be beholden to corporations. • Fundamentalist free market economics has been disproven. It depends on a set of key assumptions being absolutely true: Perfect information. Everyone knows everything about all possible transactions and can therefore make a well informed decision. No transaction fees. This means you can buy a house in the morning and sell it in the afternoon with no additional costs. In fact, everything has transaction costs attached to it. No barriers to entry. So, if you loose your job as a ditch digger in the morning you can be practicing brain surgery before night fall. If you want to start manufacturing cars tomorrow, you will not encounter any barriers to doing so. Also, clearly not the case. No barriers to exit. So, if you decide you dont like manufacturing cars you can just walk away. No clean-up costs, no severance to pay, no contractual obligations to fulfill. Even the most devote free marketer has acknowledged that these arent true; but they have argued that we are close enough in aggregate to pretend they are true. MIT economists proved that this model relies on a completely frictionless system. And even slight deviations from these perfect conditions will cause the system to collapse. It would like saying we are close enough to superconductivity to put a power plant on one side of the world and ship power to the other side. Turns out all you would get is a lot of hot copper wire. • I think you are missing one huge factor, which makes free market capitalism dangerous utopia even if all other conditions are met. I am talking about people. And they tendency to squeeze as much profit as possible (while ignoring such un-quantifiable things as public well been and common decency). • But if we give poor people a living wage, theyll educate their kids and we wont have workers in the next 20 years. /sarcasm • Meanwhile, states that have pursued conservative ideology like cutting taxes for the wealthy and public sector jobs have done quite poorly in most cases. • The conservative religious right and Koch brothers have destroyed the Kansas economy. Thats one of their pilot programs for the rest of the twenty-seven states where they control the state legislature. • There goes more of the Milton Friedman mythology. • Im not a big advocate for government control as most people on this sub are; but Ive always thought that raising the minimum wage was a good idea. Its the best way to spread wealth without stifling innovation or wasting time with regulations that just make it harder to do business. That being said, I dont think it should ever be increased a whole lot higher than ten, or maybe thirteen dollars. For what its worth too, Switzerland has no minimum wage, and they have the highest wages on Earth. There are other factors that come into play but I just figured I would show both sides of the coin. • Curious, I checked. I understand that the Scandinavian countries dont have minimum wage because the unions are strong enough its not necessary. Unions in Switzerland tried, imagine if anyone proposed a $25 minimum wage in the US. • I dont think a $25 dollar minimum wage would be a good idea, and neither did Swiss voters. • Of course they are! States with low minimum wages are all about the local rich dominating the political-economic sphere, and expanding business doesnt make sense when you want to leave a people with nothing. (づ￣ ³￣)づ Like these posts regularly to ensure this page shows up in newsfeed • Bid at the last second on Ebay Youbidder It is free
Posted on: Thu, 03 Jul 2014 21:37:21 +0000
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