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Is this forum actually going to close though?
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1) Keynesians climb trees because they haven't got a leg to stand on, and Austrians hide under rocks because they think the sky is falling in. 2) Keynesians climb trees because they exhibit a higher intellect, and Austrians hide under rocks because they live in the stone-age. 3) Keynesians climb trees in order to rise above the dogs (capitalists
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After thought, yes falling wages create unemployment, by definition. That in essence is a layoff. Production falls, wages fall, then people either get fired, quit, or they accept a lower wage rate. Wages are the employee's portion of their output. I'm not sure I understand, sorry. I can see how unemployment creates a downward pressure on wages
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Some workers will drop out of the labor force or reduce worked hours if their free time is more valuable than the new wage rate. Some will out-migrate to areas with higher wages. Is your free time really less valuable than the wage a 2nd job would bring in? This wage would almost certainly be lower than your preferred 1st job otherwise you would have
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One thing that always intrigues me when it comes to the minimum wage debate is the assumption that the labour supply curve slopes up to the right, in other words a lower wage will cause less labour to be supplied. The thing is, if I had my wage cut by a third tomorrow, I would go out and search for a second job in order that I can still pay the rent
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As a proletarian I take issue with your utterly reprehensible characterization of the working masses and our condition as "the bottom". In fact we represent the very best of society and it is the shameless parasites and idlers to whom you bear a striking resemblance who are the bottom. The moral, honor-less, wretched bottom that will burn
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You're right, there isn't necessarily hypocrisy. I don't know what I was on about and apologize, but you left a helluva bad taste in my mouth from that thread about welfare. I still don't get how you can defend his salary and at the same time want to confiscate it to redistribute to others. Maybe you don't begrudge his salary, but
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I said what I did because I spent hours drudging through a thread on welfare where Consumariat was calling us callous pricks (not in this language) for opposing redistribution. Now he's here defending Block's 175k salary from criticism. He's an idiot and a hypocrite. [quote]What's wrong with him earning lots of money? I don't like
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No one cares what you think about his politics, Consumariat. Clearly you do. Else why reply in such a weird, grumpy manner?
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What's wrong with him earning lots of money? I don't like his politics, but don't begrudge him for being lucky enough to have a well-paid job.