Shame...

[jeff47]

36. Your first sentence is utterly and completely false.

We are overproducing at extremes currently.

This is utterly and completely false.

Companies have cut back hours and shifts. They have large pools of profit they are not using to increase capacity because people do not have enough money to buy their goods. Wal-Mart's sales tank in the 4th week of every month because people have spent their aid money by that time. Unemployment is more than 7% (officially) and likely around 15-20% when you add in "discouraged" and underemployed workers.

The economy is running far, far, far below capacity.

I am not sure what theory you are quoting from as I am not an economics person, but it is probably based on some idealized, infinite growth, potential form of capitalism which can not exist in a world of limited resources.

Yes, you are clearly "not an economics person". Because what I said has nothing to do with infinite growth nor capitalism nor infinite resources.

What I'm talking about is reality, that we got to observe over the last 20 years. Some states raised their minimum wage above the federal floor. Other states did not. If your theory was correct, we should have seen signs of inflation in the states that raised their minimum wage compared to the states that did not.

There were no signs of such inflation. That means your theory is not correct.

Hard to understand that which you do not have the background (and possibly mental aptitude) to understand

Golly, a whole two sentences ago, you said you do not have the background for economics.

Do you always insult yourself so thoroughly? Or do you not have the background to understand when you are making an incoherent argument?