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[quote user="Wheylous"] I will respond to the OP later, but for the moment... idol, I am not sure whether those numbers are right: http://www.bls.gov/cps/minwage2012.htm I keep a close watch on this every year. [/quote] http://www.bls.gov/cps/minwage2012tbls.htm Full time workers (perhaps I should have clarified) work for minimum wage at a
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Hi Dunklen. Right now, according to the BLS, around 1% of workers are paid minimum wage. Around 97% are paid more than minimum wage. Businesses are always competing for workers. If I am worth more than minimum wage, I won't accept a job at minimum wage because I know I can find someone to pay me what I'm worth. People were less productive 100
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[quote user="Buzz Killington"] They wouldn't. A free market solution to the overpopulation problem. =) [/quote] Sometimes I can't tell whether you're joking or just being stupid.
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Yes.
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@Meistro: You are talking about a minimum price on a good...not a minimum cost. Supply is determined partially by an employer's costs.
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If we use the classical definition of inflation, which is an increase in the money supply, then an increase in the minimum wage does not cause inflation. I think you are thinking "rising prices = inflation" but there is a key difference between printing money to raise prices and raising the minimum wage to raise prices. Real purchasing power
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Has Jim Garrow proven his statements yet?
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I thought the Keynesians climb trees because they're moving upwards/becoming successful and the Austrians hide under rocks because we've been living under rocks while economic progress passes us by.
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[quote user="Prime"] [quote user="z1235"] How is the existence of your neighbor (vs. him not being there) [/quote] But he is there, and it tends to piss people off. That is why they form a government. If he were not there, and 100% of the people paid for the service, the result would be the same as if the government forced everyone
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[quote] Feel free to view the links I provided. [/quote] I'll read and respond to them when I have some more time on my hands; hopefully that means tomorrow.