(I am changing some of my “Pages” to “Posts,” so some of this info is older to my site)
These people must be crazy! When there is near [damn] consensus on a topic… people should know about it, especially when the raising the minimum wage hurts the black community. But the left thinks and rants that not raising minimum wage is hurting the poor and minorities… when it is the exact opposite. What a crock!
(Minimum wage laws make discrimination on ethnicity and gender easy, via Milton Friedman) Here is Walter Williams referencing some statistics to make his point (including Neumark), followed by the excellent lead-up to the debate between [included as well] between L.A. Times columnist, Michael Hiltzik, and professor of economics at UC Irvine, David Neumark:
More by Walter Williams:
How will the forced raising of the minimum wage hurt the poor?
As the #FightFor15 movement get fast food workers to strike in order to get a $15, and they watch businesses in Seattle closing because of the forced raise in wages. Automated cashier options are now an option to be weighed. Of course a business wants a human face to represent it. But the business wants to stay in business, so many are being forced to choose a cheaper, more sustainable option for its budget.
The BELOW is and update to the above story about MceeDee’s in Seattle:
And this real world affect of what politicians can merely raise taxes to meet budgets with (or, on the Federal level just print more money [a dumb move BTW]) is that small business go out of business, thus affecting the poor who want jobs.
But now the option through technology is to replace workers for businesses altogether:
- “I’m hearing from a lot of customers, ‘I voted for that, and I didn’t realize it would affect you.’” (IJ-Review)
Powerline has a great short article about minimum-wage laws pushed by Democrats bumping into the steel reinforced wall of reality:
“Any Econ 101 student can tell you the answer: ‘The higher wage reduces
the quantity of labor demanded, and hence leads to unemployment’.”
- $15 Minimum Wage: What We Can Expect | Forbes (Video)
- Minimum Wage Basics
- Dunkin Donuts vs. Minimum Wage (Audio)
- Former McDonald’s CEO Ed Rensi Speaks About Minimum Wage
- How High Would You Make the Minimum Wage? We Asked L.A. Residents (Video)
- Is Raising Minimum Wage A Bad Idea? – Learn Liberty (Video)
- John Stossel – Minimum Wage, Maximum Folly (Video)
- John Stossel – The Politics of Income (Video)
- L.A.’s Garment Dist vs. Left-Coast Values (Audio)
- L.A.’s Minimum Wage Law Hurts Poor/Middle-Class People
- Larry Elder Discusses $15 Minimum Wage (Audio)
- Liberal Bias at the L.A. Times and Minimum Wage Debates ~ Michael Hiltzik & David Neumark (Audio)
- Minimum Wage and Automated Kiosks (Audio)
- Minimum Wage and Black Families ~ Walter Williams (Audio & Video)
- Minimum Wage Realities
- Minimum Wage and Regulations Killing L.A.’s Garment District
- Popeye’s CEO on $15 minimum wage (Video)
- The “Card-Krueger” Study Debunked
- The Cruelty of the $15 Minimum Wage (Video)
- The Fifteen Dollar Minimum Wage is NONSENSE (Video)
- White Castle vs. New York Values (Audio)
Economists aren’t certain about many things, but on the minimum wage, nearly all of them (90 percent, according to one survey) believe that the case is open and shut. All else being equal, if you raise the price of something (for instance, labor), then the demand for it (for instance, by employers) will decline. That’s not just a theory; it’s a law.
James Glassman, “Don’t Raise the Minimum Wage,” Washington Post (Feb 24, 1998).
A majority of professional economists surveyed in Britain, Germany, Canada, Switzerland, and the United States agreed that minimum wage laws increase unemployment among low-skilled workers. Economists in France and Austria did not. However, the majority among Canadian economists was 85 percent and among American economists was 90 percent. Dozens of studies of the effects of minimum wages in the United States and dozens more studies of the effects of minimum wages in various countries in Europe, Latin America, the Caribbean, Indonesia, Canada, Australia, and New Zealand were reviewed in 2006 by two economists at the National Bureau of Economic Research. They concluded that, despite the various approaches and methods used in these studies, this literature as a whole was one “largely solidifying the conventional view that minimum wages reduce employment among low-skilled workers.”
Thomas Sowell, Basic Economics: A Common Sense Guide to the Economy, 4th Edition (New York, NY: Basic Books, 2011), 241. [Link to 5th edition]
…percentage of economists who agree…. A minimum wage increases unemployment among young and unskilled workers. (79%)
Economically, minimum wages may not make sense. But morally, socially, and politically they make every sense…
Jerry Brown (Reason.org)