Minimum Wage and Unemployment

[opebo]

Who cares?  Suicide-bombing is preferable to working in such jobs.

[opebo]

In the microeconomic sense, the minimum wage should increase unemployment, but in the macroeconomic sense being long term and the economy as a whole, it should have no effect on UE, but will increase the GDP and personal spending power. One should also realize people in this wage zone have the least DI (disposable income) and their MPC (marginal propensity to consume) is much greater. Inflation may go up a little but the real wages will definitely increase so ergo I favor a min wage increase.

Any increase in purchasing power from a higher minimum wage will be offset by a decrease in purchasing power somewhere else.

Of course - the goal is to transferr purchasing power from the owning class to the working class.

[opebo]

In the microeconomic sense, the minimum wage should increase unemployment, but in the macroeconomic sense being long term and the economy as a whole, it should have no effect on UE, but will increase the GDP and personal spending power. One should also realize people in this wage zone have the least DI (disposable income) and their MPC (marginal propensity to consume) is much greater. Inflation may go up a little but the real wages will definitely increase so ergo I favor a min wage increase.

Any increase in purchasing power from a higher minimum wage will be offset by a decrease in purchasing power somewhere else.

Of course - the goal is to transferr purchasing power from the owning class to the working class.

Forgot to mention that opebo.  That is why I abhor supply side economics.  It's a sorry excuse to give the wealthy more purchasing power.  The CATO Institute and Club for Growth are glorified PACs that hope to carry these objectives out.

The natural condition under laissez-faire capitalism will be that the owning class will be quite small and recieve nearly all income - the non-owners will receive only just enough to survive, and even at times, temporarily, slightly less than enough to survive.  Certainly if they become redundant or unprofitable to use, they will expire.

The political organizations you listed above are deeply unsatisfied with anything that interferes with complete control of society by the class they serve.

[opebo]

Who cares?  Suicide-bombing is preferable to working in such jobs.

I'll provide the explosives if you provide yourself.

You're much closer to the type I'm suggesting this move for than I, worker.

[opebo]

Don't you realize that you are an extremist here?

"Extremism in the defense of liberty is no vice." -- Barry Goldwater

Of course not, as there are no objective virtues or vices.  However 'liberty' as you define it is a specific State service for a specific class.

[opebo]

Once again, that has nothing to do with this poll. The fact that anyone thinks a higher minimum wage will increase employment shows how delusional some people are.

Perhaps we should raise the minimum wage to $25. Then the "working class" will have even more money, and we'll have an awesome economy, with more jobs.

Sounds like the 1960's, you deluded supply-sider.

[opebo]

raising the minimum wage is a bad idea  it will eliminate jobs
that poor people have.

This is not a problem at all, 9iron, you classist, if those who lose jobs are provided a very generous welfare state in which to relax.

[opebo]

The middle class does not get paid minimum wage.

What 'middle class'?  That phenomenon is historical only, and was created by governmental and union actions, not capitalism.

[opebo]

Any increase in demand from a higher minimum wage will represent a decrease in demand somewhere else. There is no change, and you're displaying your ignorance of economic subjects by continuing to assert otherwise.

A dollar is a dollar. Neither "helps" the economy by producing new demand. It's a phony argument.

That argument refers to State shaping of economic behaviour during crisis, such as a depression.  Redistribution is always a good thing for the working class, but it is generally good for the economy during bad times as the poor will spend their money, while the rich will not - they will keep it under the mattress.

[opebo]

They keep it in banks, where it is loaned out. If it's not spent, then obviously prices will just fall, and it's incumbent upon the Fed to purchase securities to maintain price stability.

No, it is not loaned out if potential borrowers see no benefit in doing so, such as during the depression or in Japan.  'Pushing on a string' don't you know.