LOL...They should raise the minimum wage to $50
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The austailan unemployment rate is a myth. It's been explained many times. It's all in how you count an employed person.
news.com.au/national-news/true-unemployment-at-13-per-cent-australian-bureau-of-statistics-reveals/story-fncynjr2-1226677298922
I like to think the demand curve doesn't apply to labor, that's what I like to do. -
Are wage and price levels related or something?
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This also ignores the fact that nearly everything in australia is fucking expensive. Like a lot more expensive.MikeDamone said:The austailan unemployment rate is a myth. It's been explained many times. It's all in how you count an employed person.
news.com.au/national-news/true-unemployment-at-13-per-cent-australian-bureau-of-statistics-reveals/story-fncynjr2-1226677298922
I like to think the demand curve doesn't apply to labor, that's what I like to do.
query for those in the know, what would happen if you removed the price floor that is minimum wage completely? -
No,in fact, it would be nice if the suppliers required to charge more. If McDonald's paid more for buns, then the bun people would have more money to spend. If they paid the meat people more, then just imagine how great that would because because the meat people would be spending more and consuming more. And the lettuce and onion people. Don't leave them out.PurpleJ said:Are wage and price levels related or something?
The whole argument is flawed at its core. Fucking Econ 101. The market will set the rate for a fair wage for the skill. Simple fact.
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Yes, the same people that brought us the recession, the fucking government regulatorsFire_Marshall_Bill said:A few things:
- The minimum wage (adjusted for inflation) was much higher in the 60s and 70s. The economy did not collapse as a result.
- Australia's is about 16 USD per hr., and their unemployment rate is 5.6 percent. What's the US rate? 7.8 or something?
I'm not advocating for some abrupt 50% hike on January 1st 2014. That Would hurt small businesses. But the general "any raise in the minimum wage will kill 3 million jobs and ruin the economy!!!!" nonsense is brought to you by many of the same people whose risky, wreckless behavior gave us the great recession (and subsequent bailouts) so I don't really listen anymore.
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I think everyone should have more money and there should be no more inflation.
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Of course it didn't noticably hurt the economy...because min wage at its current level (or even the level of the 70's) is such a minor factor that all the other factors that go into a healthy economy outway the min wage effect. In general min wage has very little effect on the economy (unless you raised it to $100/hr or something extreme like that). The problem is where the burden of proof lies. The default should be no action (ie no min wage) unless someone can prove it has lasting long term positive effect on the economy. Of course no one can prove that, so it shouldn't be done. Way too much noise in the data to get any definite conclusion.Fire_Marshall_Bill said:A few things:
- The minimum wage (adjusted for inflation) was much higher in the 60s and 70s. The economy did not collapse as a result.
- Australia's is about 16 USD per hr., and their unemployment rate is 5.6 percent. What's the US rate? 7.8 or something?
I'm not advocating for some abrupt 50% hike on January 1st 2014. That Would hurt small businesses. But the general "any raise in the minimum wage will kill 3 million jobs and ruin the economy!!!!" nonsense is brought to you by many of the same people whose risky, wreckless behavior gave us the great recession (and subsequent bailouts) so I don't really listen anymore.
Why regulate companies when you could just have a negative income tax that is much simpler to administer? -
I'm for a living wage but against minimum wage workers
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I'm for people, but hate people.CFetters_Nacho_Lover said:I'm for a living wage but against minimum wage workers
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I'm against unemployment but for poverty
