minimum wage

It seems we have a sort of natural economic experiment in progress due to the election results in four US states that voted to raise the minimum wage (not taking immediate effect though). It will, however take at least a year, and probably more to really see if there is any effect on...

http://money.cnn.com/2014/06/02/news/economy/seattle-minimum-wage/index.html?hpt=hp_c2 With the gradual increases in the wage I guess there won't be a mass exodus of small business from Seattle to avoid paying higher wages. Nothing to do with the wage increase; but to me Seattle is like...

http://thehill.com/homenews/house/231663-left-pushes-10-minimum-wage-but-leadership-balks "But no Democratic leaders have endorsed the measure, and the silence coming from their offices this week has highlighted the potential political difficulty in raising the minimum wage — a move that’s...

I recently watched this video of Milton Friedman explaining why he thinks that raising the minimum wage actually hurts poor people: ca8Z__o52sk Okay, I do not understand this at all. Why would employers start hiring over-qualified employees, just because the minimum wage is higher? If the...

Video Fifteen dollar minimum wage? A bit high. For that price I could hire a few russian engineers and start my own missile program. Where did this number come from? P.S. I like the "Life's a Lottery" phrase. Although I prefer to pick up scratchers.

The President proposed it in his State of the Union. Didn't watch it but it sounds good to me. Helps low income workers afford things much better.

So we have a couple of trains of thought going around these days. One is to screw the rich (which I'm part of), and the other is to screw the poor, which laissez-free capitalists appear to be in favor of. Don't believe me? OK. So let's started on the tough medicine. It means people cannot...

Since I found Progressive Radio, I have been listening to them a lot. But not for the reasons one might think. I find it a study on human nature and how our brains work (or don't work properly) to preceive the world. They are the ones who, I find, are on the wrong track and it is ironic...

Talks going around in the media. We need a thread on it. Opinions? For starters, here is Krugman: http://krugman.blogs.nytimes.com/2009/12/17/dining-room-tables-and-minimum-wages/ Technically this would be Econ forum, but what the heck; the disagreements are just political anyways.

As I have been told by many a libertarian who has taken Economics 101, and many a pundit, the minimum wage hurts those it tries to help because of the simple Law of Supply and Demand (Or something like that). Well, to see if they are correct, I got my hands on a textbook ingeniously entitled...

Saipan, Marianas Islands, USA Territory If you recall, this is where Chinese and other poor women are being lured with the promise of a job in the US. Instead the women end up in sweat shops under the worst of conditions. All the while the sweatshop owners rake in the millions using the slave...

I had intended to start this thread by asking if a president's veto meant the bill was dead. Through more careful reading, I found a veto can be overturned, but that this one likely won't be as the Republicans likely won't vote to overturn it: Bush vetoes Iraq spending bill over timelines My...

Won't this merely cause everyone else to want more money so that they can keep ahead of minimum wage earners wages by the same percentage? And won't this then defeat the purpose of the wage hike? And won't this just merely cause everything we buy to require more cash? If someone like me...

Gee, it's just amazing how the predictions of economics just keep coming true, despite the claims of many on this board to the contrary. Like, the claim that the Minimum Wage doesn't destroy the jobs of the very people it's purporting to guarantee higher wages for. New Study Reveals Minimum...

There is a lot of myth in economics, just as there is myth in much of psychology. And I hope that we can discuss the myths both for and against the minimum wage. I personally support the minimum wage but I am open to hearing any ideas. The first myth that I have heard goes like this: 1...