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Post by Propagandhi711 Wed Jun 28, 2017 12:59 pm

and how to kill businesses in the long term with endless regulation:

http://money.cnn.com/2017/06/26/news/seattle-minimum-wage-15/

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Post by MaxEntropy_Man Wed Jun 28, 2017 2:09 pm

Propagandhi711 wrote:and how to kill businesses in the long term with endless regulation:

http://money.cnn.com/2017/06/26/news/seattle-minimum-wage-15/

That sounds like an economic experiment that did not produce the desired result and liberals should be willing to admit defeat. In this instance the minimum wage appears to have been set too high but that does not mean that the entire premise of raising the minimum wage to produce a higher quality of life in and of itself is a bad idea. There is an optimization problem here and the answer Seattle came up with not the optimum.
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Post by smArtha Wed Jun 28, 2017 2:14 pm

MaxEntropy_Man wrote:
Propagandhi711 wrote:and how to kill businesses in the long term with endless regulation:

http://money.cnn.com/2017/06/26/news/seattle-minimum-wage-15/

That sounds like an economic experiment that did not produce the desired result and liberals should be willing to admit defeat. In this instance the minimum wage appears to have been set too high but that does not mean that the entire premise of raising the minimum wage to produce a higher quality of life in and of itself is a bad idea. There is an optimization problem here and the answer Seattle came up with not the optimum.

Isn't it natural for minimum wage and it's increments be correlated to a suitable inflationary index viz. CPI or such applicable one?

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