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Minimum wage laws are cruel, racist job killers.

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skiminnesota
Posts: 9093 - Karma: 429
- Walter Williams (black) George Mason University Economist.
Jun 5 2011 9:09PM
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Lord.Quasimoto
Posts: 958 - Karma: 33

How could you ever determine that? There exists an infinite variety of jobs. There is no lowest demanding job because that is relative to whos doing it.

Jun 9 2011 1:39PM
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factory81
Posts: 3967 - Karma: 63
See my argument on what economists will argue. When you listen to it and learn about supply/demand and equilibrium it makes sense that is actually hurts workers more than it helps them.
Jun 9 2011 5:13PM
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factory81
Posts: 3967 - Karma: 63
You should take a class on micro-economics. You will learn about every supply/demand theory, and then you will learn how producers figure fixed costs, average fixed costs, total costs, and so on. You literally get to learn how employers figure out how much labor to employ, and when to stop because your return starts to decrease.

IN FACT IM TAKING MICRO-ECON NOW. I SHOULD BE SCHOOLING YOU HARD, but my lack of schooling here shows that I merely am just passing the class with a B and memorizing shit for tests :)
Jun 9 2011 5:17PM
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factory81
Posts: 3967 - Karma: 63
Micro-econ does not necessarily address fairness or ethics as the point of economics is to basically make things run as efficiently as possible and to figure out how to maximize profit and make the right fiscal decisions.

Micro-econ tries to take a subject that people LOVE to tie their normative judgement values on basically a science that has positive truth statements. E.g. minimum wage increase will cause a decrease in employment.


Jun 9 2011 5:21PM
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ImNotARacist
Posts: 5136 - Karma: -1,030
Yeah I took micro econ my junior year in highschool. The teacher sucked, and I have no interest in learning, but it was nice to get learned from woozy.
Jun 9 2011 5:33PM
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