Skip to main content

Home/ Rational Society/ Group items tagged Minimum

Rss Feed Group items tagged

thinkahol *

Employment and the Minimum Wage-Evidence from Recent State Labor Market Trends | Econom... - 0 views

  •  
    Congress, a number of states, and even some cities will raise or consider raising minimum wages this year. Meanwhile, the economy is suffering what may prove to be the fourth consecutive year of a geographically widespread labor market slump, with most states facing uncertain economic situations. In this environment, the minimum wage becomes more important than ever, as a weaker labor market is unlikely to provide low-wage workers the bargaining power required to negotiate fair wages for their labor. Despite the necessity of a minimum wage that allows low-wage workers to meet basic needs, there is still strong opposition to minimum wage increases, especially from those who don't view the weak labor market as an imperative to raise minimum wages, but rather as a reason to oppose them. In particular, opponents of state-level minimum wage increases claim that these increases are the cause of weak labor markets, especially in the form of high unemployment rates. That argument, however, rests on the simplistic observation that some of the states with high minimum wages also have high unemployment rates. Without more examination, this observation is as useful in understanding state job markets as noting that joblessness has been on the rise in New York since the last time the Yankees won the World Series. It might be true, but it doesn't mean one is causing the other.
thinkahol *

Neoclassical economists and the minimum wage « occasional links & commentary - 0 views

  •  
    Nothing quite makes neoclassical economists go apoplectic than reading or hearing the argument that an increase in the minimum wage doesn't cause unemployment. Just ask David Card and Alan Krueger (here's one example, from Gary Becker).
thinkahol *

The decade's biggest scam - Salon.com - 0 views

  •  
    The March, 2011, Harper's Index expressed the point this way: "Number of American civilians who died worldwide in terrorist attacks last year: 8 - Minimum number who died after being struck by lightning: 29."  That's the threat in the name of which a vast domestic Security State is constructed, wars and other attacks are and continue to be launched, and trillions of dollars are transferred to the private security and defense contracting industry at exactly the time that Americans - even as they face massive wealth inequality - are told that they must sacrifice basic economic security because of budgetary constraints. 
thinkahol *

Employment and the Minimum Wage-Evidence from Recent State Labor Market Trends - 0 views

  • Employers have power to set wages because workers incur substantial personal cost during unemployment. Employers exercise that power by paying their employees less than what they would earn in a truly competitive market. By paying lower wages, employers may cause higher turnover and incur higher costs to recruit, train, and supervise their workers.
1 - 4 of 4
Showing 20 items per page