Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Aug 11, 2019 16:00:43 GMT
Artificial wage setting has two unintended consequences:
An artificial wage floor drives up the cost of goods and services. Bear in mind that these increases do not just affect workers at the wage floor. If the lowest paid workers get an increase, all workers up through the business must experience some increase sooner or later, all of the supervisors and mid-management folks. There is no incentive to take on additional responsibility and work unless you are getting an earning benefit. This is what is called wage compression. This drives up the cost of goods and services, and the people least able to absorb an increase in the cost of good and services are still the people working at the new wage floor. You set an artificial wage floor based on the cost of living, and then your artificial wage floor drives up the cost of living.
An artificial wage floor also changes the business math for the workers vs. automation equation. Expensive automation becomes more and more cost effective over time as you raise the wage floor. The result, over time, is fewer jobs for the lowest skilled, most vulnerable workers. Again, you hurt the people you are allegedly attempting to help.
|
|
|
Post by doctorquant on Aug 11, 2019 16:26:27 GMT
That price will be surely passed on to the consumer - which is, of course, the same as the Right’s argument against the raising of the minimum wage. I don’t know that “the Right” has made an argument against the minimum wage (or legislated increases of it). The informed argument is that the cost of the minimum wage is born largely by those who can least afford to be priced out of the job market by it.
|
|
|
Post by Dr Boom 70 on Aug 11, 2019 16:42:26 GMT
|
|
|
Post by lcjjdnh on Aug 29, 2019 16:22:53 GMT
Coverage of this in both the Times and Journal today, but shouldn't this entire investigation be a bigger deal?
|
|
|
Post by doctorquant on Sept 11, 2019 23:34:02 GMT
|
|
|
Post by Wolfenstein on Sept 11, 2019 23:39:36 GMT
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 11, 2019 23:52:51 GMT
That only address the revenue side. Couldn’t China theoretically cut existing spending in other areas to account for cost of stolen IP? Theoretically?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 11, 2019 23:56:45 GMT
|
|
|
Post by doctorquant on Sept 12, 2019 0:28:38 GMT
That only address the revenue side. Couldn’t China theoretically cut existing spending in other areas to account for cost of stolen IP? Theoretically? The only way China can pay us for our IP.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 12, 2019 0:40:46 GMT
Yes, let’s say I stole your IP and owed you $5. Would I have to sell you $5 worth of goods in order to generate the revenue to pay you the $5 I owe you for the stolen IP? Or could I cut my military spending by $5 and use that $5 to pay you for the stolen IP rather than selling you an additional $5 of goods to generate an additional $5 revenue offset?
|
|
|
Post by lcjjdnh on Sept 12, 2019 1:00:13 GMT
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 12, 2019 1:05:57 GMT
It’s like living in the bizarro world.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 12, 2019 1:07:26 GMT
Yes, let’s say I stole your IP and owed you $5. Would I have to sell you $5 worth of goods in order to generate the revenue to pay you the $5 I owe you for the stolen IP? Or could I cut my military spending by $5 and use that $5 to pay you for the stolen IP rather than selling you an additional $5 of goods to generate an additional $5 revenue offset? Or Could I use the AOC solution and print an extra $5 to pay you?
|
|
|
Post by lcjjdnh on Sept 12, 2019 11:28:24 GMT
It’s like living in the bizarro world. Much like California, having caused a housing crisis in part through all its regulations, now enacting rent control laws that will only further deter people from building...
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Sept 12, 2019 14:11:43 GMT
It’s like living in the bizarro world. Much like California, having caused a housing crisis in part through all its regulations, now enacting rent control laws that will only further deter people from building... Exactamundo
|
|