Archived Bernie Sanders tells 4,000 at University of Nevada crowd his 'revolution' has momentum (nevadaappeal.com)
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Archived on: 2/12/2017 1:51:00 AM
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Archived Bernie Sanders tells 4,000 at University of Nevada crowd his 'revolution' has momentum (nevadaappeal.com)
submitted ago by AaronSwartzrolling
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[–] ShinyVoater ago
I referenced Samoa because it puts paid to that lie: being a low-income unincorporated territory, they've traditionally be exempted from the federal minimum wage. After they were included in the latest hike, one of the major employers shut down operations and the other laid off a number of employees. But do go on about how supply and demand doesn't apply to labor at all. After all, nobody would consider price when hiring an electrician or plumber, amiright?
Broken window fallacy. Moving money around isn't the same thing as growing the economy; it's just an easy-to-measure statistic. Sadly, with economics, it seems so many are ready to forget that the map is not the territory.
So should we just let all those part time minimum wage employees be assigned less hours and first time job seekers find it harder and harder to get one just because you don't understand one of the basic axioms of economics? Just because you mean well doesn't mean you actions won't be toxic to groups with already sky-high employment problems.
No, I'm on the side of those who want to know the mechanism of action and fixing that, rather than putting bandaids on gaping wounds and pretending that accomplishes anything. At best you'll just wind up revisiting the issue in some years when the minimum wage is worth crap again because you didn't fix anything.