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#1
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Minimum wage
Good or bad?
Any references to morality and any clearly ideological viewpoints (ON EITHER SIDE) will be ignored. Factual evidence accepted only. |
#2
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Re: Minimum wage
It's good if you like unemployment and inflation.
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#3
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Re: Minimum wage
Bad: The supply of labor exceeds demand (in some circumstances when the minimum wage is above equilibrium) which leads to unemployment and an inefficient allocation of resources.
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#4
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Re: Minimum wage
I am not sure what you mean by this. The supply of labour exceeds the demand? What does that have to do with minimum wage. That is the price of labour, not it's supply. Isn't it?
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#5
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Re: Minimum wage
If the price of labor is above the market equilibrium (as is the case when the government determines wage prices), then more people will want to work than employers are willing to hire. Basic economics. This isn't the case all of the time (when equilibrium is above the minimum wage there is no effect) but sometimes it is... primarliy causing unemployment.
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#6
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Re: Minimum wage
Can you back this up with any evidence?
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#8
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Re: Minimum wage
Minimum wage is what you get paid to 12 table $1/$2 limit games online.
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#9
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Re: Minimum wage
only if you really suck
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#10
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Re: Minimum wage
I'll quote directly from my econ textbook:
[ QUOTE ] Here are 12 propositions with which at least 7 out of every 10 economists agree: ... * A minimum wage increases unemployment among young workers and low-skileed workers... [/ QUOTE ] |
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