My Substitute Reality -You're just jealous cause the little voices only talk to me-

Friday December 20, 2013

Riddle me This

Filed under: Politics — don @ 8:27 pm

So a large majority of climate change scientists tell us the earth warm up is man caused.  If you argue this you are labeled a denier.  Okay, fair enough.

A large majority of economists believe that raising the minimum wage will hurt the very people you profess you want to help yet you ignore them and push to raise it anyways.

Why are you not called an economic denier?


  1. I watched an interesting “Nova” this week on earth warning. Haven’t made any decision yet, but I won’t be here long enough to worry about it; several thousand years in a cycle.

    Comment by Mom — Saturday December 21, 2013 @ 12:59 pm

  2. I don’t know if raising unemployment is a good idea. These studies and reports suggest that economists are pretty evenly split on the effect of raising the minimum wage. For every study showing that it increase unemployment, another shows that it does not. Among economists who felt it increased unemployment, many felt the trade-off was worth it.

    Comment by Daryl — Monday December 23, 2013 @ 4:02 pm

  3. At the risk of doing a “tit-for-tat” here’s a link to a survey of Labor Economists from 2007.

    Here’s the first 2 significant findings.

    “The major findings of this survey include:
    • Almost three-fourths of labor economists (73%) believe that a mandated minimum wage
    increase set at 150% of the current wage would result in employment losses. Similarly, more
    than two-thirds of labor economists (68%) believe a mandated minimum wage would result
    in employers hiring more applicants with greater skills, and nearly one-third (31%) believe
    there would be no change in hiring practices.
    • Nearly half of labor economists (49%) believe a mandated minimum wage set at 150%
    of the current wage would lead to no change in poverty rates, 32% believe it will reduce
    poverty rates and 19% believe it will increase poverty rates.”

    This is one of those surveys I talk about. It’s obviously not the same thing as climate change but it is clear that most economists argue against a minimum wage.

    Comment by Don — Monday December 23, 2013 @ 11:59 pm

  4. My take from all these surveys is that economists are really split. It seems that a majority agree that increasing the minimum wage will decrease employment, but paradoxically more of them think it will reduce the poverty rate (from the study you quote), despite the decrease in employment. Maybe they think that the ones who lose their jobs were already below the poverty line, but that those who retain jobs with higher wages will move above the line, therefore there will be fewer people in poverty. I’m not sure that’s a desirable outcome; push some deeper into poverty and raise a few out.

    Most economists in the report agreed that increasing the Earned Income Tax Credit was a better way to reduce poverty without reducing employment. But I would think that Libertarian like you would disagree with making the tax more progressive.

    Comment by Daryl — Tuesday December 24, 2013 @ 10:22 am

  5. Yes, you would be correct that I’m not in favor of a more progressive tax but it has nothing to do with economics. It has to do with fairness.

    I don’t really believe it’s the job of the government to reduce poverty. I think it’s the job of the government to protect the borders and the citizens and then get out of the way of Capitalism.

    I do believe the good in men will take care of the poor as long as the government isn’t standing there forcing us to do it. We see proof of that whenever there’s a big earthquake or hurricane or other calamity that befalls a group of people. Other people step up and help out.

    Comment by Don — Tuesday December 24, 2013 @ 5:47 pm

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