tag:blogger.com,1999:blog-1740670447258719504.post5477672647869222138..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: Great sentences on the minimum wageEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1740670447258719504.post-73614750139080163372013-02-24T17:34:01.631-05:002013-02-24T17:34:01.631-05:00I think it happens too. Why else do employer prom...I think it happens too. Why else do employer promote the custom of works not knowing what others are paid?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-47334436357597326912013-02-24T17:32:40.840-05:002013-02-24T17:32:40.840-05:00An implication of this discrimination idea is that...An implication of this discrimination idea is that a minimum could improve the lot of workers paid below what the best paid worker is paid. Their pay would go from well below the market clearing wage up to the market clearing wage, with no impact on the quantity employed. It would be a potential benefit of labor unions as well.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-19667469726478447812013-02-24T17:27:31.716-05:002013-02-24T17:27:31.716-05:00Depends on how it's structured - 5.15 to 7.25 ...Depends on how it's structured - 5.15 to 7.25 is 40%, but it was spread out as you allude to. If 24% is spread out probably the same as in the past.<br /><br />Labor demand for teenage workers is a lot weaker now than it was, though.Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-31261268517864945112013-02-24T17:24:12.281-05:002013-02-24T17:24:12.281-05:00A zero effect really just means we've got abou...<i>A zero effect really just means we've got about as many going one way as the other.</i><br /><br />Let's assume that a "modest" increase really has negligible (aggregate) effects. Are we sure that a 24% increase is still "modest"? Everybody agrees that doubling the minimum wage will reduce hiring, right? So why are we taking it for granted that a 24% hike has no effect? Is *that* what the studies showed? The last 2 hikes were around 11% each.Bob Murphyhttps://www.blogger.com/profile/04001108408649311528noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-53658448827552867302013-02-24T15:36:42.718-05:002013-02-24T15:36:42.718-05:00The other impetuous is a move to increase producti...The other impetuous is a move to increase productivity, whether by making them work harder (more effort) or smarter (more technology). This latter effect may be the most significant, increasing overall productivity. Lordhttps://www.blogger.com/profile/06747994571555237739noreply@blogger.com