2aguy
Diamond Member
- Jul 19, 2014
- 112,236
- 52,459
yes....socialists are dumb......only when they have countries with lots of money do their stupid ideas work for a while...and as the saying goes...eventually they run out of other peoples money.......
Blog Bernie Sanders inadvertently makes the case against a 15 minimum wage
Forbes Tim Worstall shows how Senator Bernie Sanders actually proves the case against a $15 an hour minimum wage on his own webpage:
This isn’t, perhaps, quite what Bernie Sanders thinks he is saying over on his Senate page but it is indeed what he is saying. He’s providing us with the proof perfect that a rise in the minimum wage to $15 an hour will costs jobs.
For he’s telling us that the rise in the minimum wage will be paid for by a combination of three things.
Firstly, a rise in prices of goods made by minimum wage labour. This will reduce the volume of such goods purchased (no, really, demand curves do slope downwards) and thus lead to less minimum wage labour being employed. Part of it will be paid for by lower profits. And yes, demand curves really do slope downwards meaning that fewer people will be interested in the profits that can be earned by employing minimum wage labour: thus less minimum wage labour will be employed.
Finally, he tells us that there will be a forced rise in the productivity with which labour is used: and a rise in productivity is the same thing as stating that less labour will be used.
Read more: Blog Bernie Sanders inadvertently makes the case against a 15 minimum wage
Follow us: @AmericanThinker on Twitter | AmericanThinker on Facebook
Blog Bernie Sanders inadvertently makes the case against a 15 minimum wage
Forbes Tim Worstall shows how Senator Bernie Sanders actually proves the case against a $15 an hour minimum wage on his own webpage:
This isn’t, perhaps, quite what Bernie Sanders thinks he is saying over on his Senate page but it is indeed what he is saying. He’s providing us with the proof perfect that a rise in the minimum wage to $15 an hour will costs jobs.
For he’s telling us that the rise in the minimum wage will be paid for by a combination of three things.
Firstly, a rise in prices of goods made by minimum wage labour. This will reduce the volume of such goods purchased (no, really, demand curves do slope downwards) and thus lead to less minimum wage labour being employed. Part of it will be paid for by lower profits. And yes, demand curves really do slope downwards meaning that fewer people will be interested in the profits that can be earned by employing minimum wage labour: thus less minimum wage labour will be employed.
Finally, he tells us that there will be a forced rise in the productivity with which labour is used: and a rise in productivity is the same thing as stating that less labour will be used.
Read more: Blog Bernie Sanders inadvertently makes the case against a 15 minimum wage
Follow us: @AmericanThinker on Twitter | AmericanThinker on Facebook