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tclambert

(11,191 posts)

22. I believe that about the minimum wage stimulating the economy, too, but I couldn't find research to

Reply to Coyotl (Reply #15)

Tue Nov 13, 2012, 08:32 PM

Nov 2012

support it. When I looked a few years back, I found to my horror that economists had never looked into the possibility. In their modeling, they ASSUMED that raising the minimum wage has exactly ZERO net effect on the economy. The question I wanted answered--what effect, positive or negative, does increasing the minimum wage have?--they ASSUMED out of existence, ASSUMING that the positives and negatives perfectly cancelled each other out.

All they wanted to look at was what effect minimum wage increases had on the job market. Assuming zero stimulus effect, turning it into a zero sum game, pretty much guaranteed that any increase would reduce the number of minimum wage jobs.

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Highlight:

The Oligarchs Don't Understand That Economic Collapse Happens When They Get All the Money [View all] xchrom Nov 2012 OP

k/r Fridays Child Nov 2012 #1

Another revealing article . . . Petrushka Nov 2012 #2

Don't be ridiculous. wellspring Nov 2012 #19

. . . Petrushka Nov 2012 #31

i think they understand full well and regularly tank the economy to collect all the monopoly HiPointDem Nov 2012 #3

I'm afraid you are correct. The results are to obvious for Live and Learn Nov 2012 #5

Correct! BobbyBoring Nov 2012 #8

They only need to steal the money once every 20 years Coyotl Nov 2012 #12

once per generation. after that, you get gun shy so not as easy to pump the big bubble. HiPointDem Nov 2012 #13

So true. Starry Messenger Nov 2012 #18

but after americans all jump out their windows Mothdust Nov 2012 #4

The economy prospers when money is in motion. Oligarchies tie it up in yachts and real estate. Bernardo de La Paz Nov 2012 #6

Exactly right. tclambert Nov 2012 #7

Minimum wage raise is best economic stimulus. Also, incentivized tax breaks only Coyotl Nov 2012 #15

I believe that about the minimum wage stimulating the economy, too, but I couldn't find research to tclambert Nov 2012 #22

They don't need to know this. The people around them need to know this. jtuck004 Nov 2012 #9

It's all fun and games until hifiguy Nov 2012 #28

I was reading a bit about Marie Antoinette this evening, thinking jtuck004 Nov 2012 #29

k/r marmar Nov 2012 #10

yup. they need a solid base of people to stand on and climb all over. unblock Nov 2012 #11

Wishful thinking daybranch Nov 2012 #14

740 Park Ave. NY, NY ...where the war should be! L0oniX Nov 2012 #24

+1. cracks me up when people talk about how stupid the rulers are. they don't want to share HiPointDem Nov 2012 #30

That's a brilliant way to put it ProfessorPlum Nov 2012 #16

And I remember as a kid Shankapotomus Nov 2012 #17

I think the whole point of the game is to teach people that monopoly capitalism sucks! :) reformist2 Nov 2012 #20

And it does! Shankapotomus Nov 2012 #21

Park Avenue: Money, Power & the American Dream. We've lost our country! L0oniX Nov 2012 #23

This is quite true. Thank you xchrom for bringing this important point up FogerRox Nov 2012 #25

The good thing about laissez faire capitalism is hifiguy Nov 2012 #26

I like the game that ends with: "The Monopoly oligarch goes to the scaffold." WinkyDink Nov 2012 #27

they'll get it when their silk ties become nooses datasuspect Nov 2012 #32