It always cracks me up when someone can boil something as complex as our economy down to a bit-sized problem, then apply some cherry picked information and come to a conclusion and have so much conviction behind it.
On May 29, 2013, at 11:40 AM, Jerry Barnes <[email protected]> wrote: > > "I still don't see the connection of how the minimum wage is actually hurts > our economy." > > Yes. That is obvious. I would guess that you think rent control is a good > thing as well. > > May I recommend a book: > > http://www.amazon.com/Basic-Economics-Common-Sense-Economy/dp/0465022529 > > > Until you can get around to it, hear is a basic primer: > > 1. A minimum wage mandate does not happen in a vacuum. It will effect > other policies. > 2. Business will adjust in order to compensate for lost money due > increased wages. Some of these changes include: > > A. reduced hiring. > B. reduced hours. > C. reduced benefits. > D. higher prices. > E. fewer products. > F. Offshoring > G. Fewer resources to reward high performing workers. > > 3. As a result, fewer people are working while the product pool shrinks > and/or increases in cost. That is, the exact opposite of the intentions of > minimum wage. Or is it? > > And as discussed earlier, the minimum wage adversely effect minority and > young workers more than other groups. > > J > > - > > I think the problem with a lot of elites in the Democratic party, quite > frankly, is they communicate they don't respect people's faith - Joe Biden > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:363973 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
