Fact: Even with INCREASED minimum wages, HIRING continues to GROW

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  • $5 submissions
    I help you SUCCEED
    • Nov 2003
    • 32195
    #1

    Fact: Even with INCREASED minimum wages, HIRING continues to GROW

    $15 wage law has little impact on Seattle?s thriving labor market, report suggests | The Seattle Times

    Kinda flies in the face of conventional economic theory espoused by Milton Friedman and others

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    • Sly
      Let's do some business!
      • Sep 2004
      • 31375
      #2
      Seattle, a major city that was already growing, can hardly be used as a litmus test for national policy.
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        • $5 submissions
          I help you SUCCEED
          • Nov 2003
          • 32195
          #3
          Originally posted by Sly
          Seattle, a major city that was already growing, can hardly be used as a litmus test for national policy.
          Okay, you're claiming a statistical representation logical error. Please show a more REPRESENTATIVE sample.

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            • Klen
              • Aug 2006
              • 32235
              #4
              There is nothing spectacular in increasing minimum wage, you just need to adjust prices for everything and problem solved, except in case of factory workers where increase of minimum wage can cause factory to be unprofitable.

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                • Sly
                  Let's do some business!
                  • Sep 2004
                  • 31375
                  #5
                  Originally posted by $5 submissions
                  Okay, you're claiming a statistical representation logical error. Please show a more REPRESENTATIVE sample.
                  There isn't one because it hasn't been done.

                  Using Seattle as an example of something working and saying it would work across the nation is not much different than using San Francisco as an example for house prices and saying a house in Oklahoma should be worth the same amount of money.

                  The writer of the article and the report itself point this out several times. Seattle had a unique economy which contributed to the success.
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                    • crockett
                      in a van by the river
                      • May 2003
                      • 76818
                      #6
                      Originally posted by $5 submissions
                      $15 wage law has little impact on Seattle?s thriving labor market, report suggests | The Seattle Times

                      Kinda flies in the face of conventional economic theory espoused by Milton Friedman and others

                      Please don't confuse "conventional" with ideology. Anyone with half a brain understands the more people making money means more people spending money which means growing economy. It just has to grow at a healthy pace.

                      The only people who like to pretend this doesn't work are right wing bats who just want you to believe trickle down economics works. What is happening in Seattle "IS" conventional economic theory at play..
                      In November, you can vote for America's next president or its first dictator.

                        Comment

                        • Klen
                          • Aug 2006
                          • 32235
                          #7
                          Originally posted by Sly
                          There isn't one because it hasn't been done.

                          Using Seattle as an example of something working and saying it would work across the nation is not much different than using San Francisco as an example for house prices and saying a house in Oklahoma should be worth the same amount of money.

                          The writer of the article and the report itself point this out several times. Seattle had a unique economy which contributed to the success.
                          Here we often complain how western countries have much better standard and salaries up to 10x more, but the reason why is that is because western countries are service/real estate based hence the difference, only food price in store is same. So for example hairdresser here cost 5$ while in Austria would cost 50$.

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                            • $5 submissions
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                              • Nov 2003
                              • 32195
                              #8
                              Originally posted by KlenTelaris
                              There is nothing spectacular in increasing minimum wage, you just need to adjust prices for everything and problem solved, except in case of factory workers where increase of minimum wage can cause factory to be unprofitable.
                              You're saying that the SERVICE and MANUFACTURING sectors are SO DIFFERENT that they react differently from increased wages? Which differences account for the difference in effect?

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                                • crockett
                                  in a van by the river
                                  • May 2003
                                  • 76818
                                  #9
                                  Originally posted by Sly
                                  Seattle, a major city that was already growing, can hardly be used as a litmus test for national policy.
                                  Oh please all the GFY right wing bats were raging about it and telling us all how Seattle was going to fail and businesses would run away screaming.. All the typical Doom & Gloom BS because they will never admit their failed trickle down ideology and attack on the middle class is what's really destroying this country..
                                  In November, you can vote for America's next president or its first dictator.

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                                    • $5 submissions
                                      I help you SUCCEED
                                      • Nov 2003
                                      • 32195
                                      #10
                                      Originally posted by crockett
                                      What is happening in Seattle "IS" conventional economic theory at play..
                                      Did you read the article?

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                                        • crockett
                                          in a van by the river
                                          • May 2003
                                          • 76818
                                          #11
                                          Originally posted by $5 submissions
                                          Did you read the article?
                                          I don't need to read an article, the basic fact is they raised min wage to $15/hr and jobs did not run away... I don't need need to read an article of excuses as to why the doom & gloom didn't happen.. I understand basic economy.

                                          More money in the hands of more people equals more spending which equals more economy. It's very simple. but as always things must be kept in check.. $15/hr is sustainable but trying to raise min wage to $30 would not for example. Wages "HAVE" to be kept in check with inflation and that's what they did..

                                          The reason our middle class is shrinking is because wages have not kept up with inflation and people are incurring more debt as a result. More debt is good for the 1% but not good for growing the economy or the middle class.

                                          One half of our govt understands this, the other half pretends not to because they only care about the 1%..
                                          In November, you can vote for America's next president or its first dictator.

                                            Comment

                                            • $5 submissions
                                              I help you SUCCEED
                                              • Nov 2003
                                              • 32195
                                              #12
                                              Originally posted by crockett
                                              I don't need to read...

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                                                • mineistaken
                                                  See signature :)
                                                  • Apr 2007
                                                  • 29656
                                                  #13
                                                  How do you know what would have happened without the increase? Maybe twice as fast growth in hiring? Maybe tripple as fast?

                                                  You can not draw conclusions like that because of the fact you do not know what would have happened otherwise.

                                                  Like Sly said - other things may offset negative impact of pay increase and total result could still be positive. But just because other reasons offset it.

                                                    Comment

                                                    • crockett
                                                      in a van by the river
                                                      • May 2003
                                                      • 76818
                                                      #14
                                                      Originally posted by mineistaken
                                                      How do you know what would have happened without the increase? Maybe twice as fast growth in hiring? Maybe tripple as fast?

                                                      You can not draw conclusions like that because of the fact you do not know what would have happened otherwise.

                                                      Like Sly said - other things may offset negative impact of pay increase and total result could still be positive. But just because other reasons offset it.
                                                      You are just making excuses because you were one of the doom and gloomers chanting about how business would run away.

                                                      It didn't, because they simply raised the min wage to match current inflation.
                                                      In November, you can vote for America's next president or its first dictator.

                                                        Comment

                                                        • Bladewire
                                                          StraightBro
                                                          • Aug 2003
                                                          • 56228
                                                          #15
                                                          Originally posted by crockett
                                                          You are just making excuses because you were one of the doom and gloomers chanting about how business would run away.

                                                          It didn't, because they simply raised the min wage to match current inflation.
                                                          They should raise social security income yearly with inflation as well. All the extra money would be paid on retirees children / grandchildren etc. The cost of living gap and social security payments is huge.


                                                          Skype: CallTomNow

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