New York Times Admits "Higher Minimum Wage May Have Losers"

[Geaux4it]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

 

[Wyatt earp]

Anyone who ever ran a lemonade stand when they were 7 years old could tell you that and how fucked up liberals thinking is...


.

 

[Geaux4it]

Anyone who ever ran a lemonade stand when they were 7 years old could tell you that and how fucked up liberals thinking is...


.

Wage is commensurate with experience. The more experience one gains in employment and their roles and responsibilities become more demanding, the wage will follow.

-Geaux

 

[Preacher]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

But paying CEO's MILLIONS is NOT bad for business or consumers....giving workers a livable wages=horrible for economy,giving CEO's millions in wages=great for economy....ahhh to be a cuckservative simpleton.

 

[danielpalos]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

Making a profit may not be a rational choice or non-political passion of the moment, at any given time.

Good capitalists can always make like Henry Ford, and double wages to realize gains from efficiency.

 

[Winston]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

Holy epiphany Batman. You mean if you pay a higher wage you get more productive workers. Who would have thunk it.

And wait, you mean a higher minimum wage improves the return on invested capital--damn, wonder how you spin that as a bad thing.

And wow. Just wow. So the "losers" if we increase the minimum wage are low rated restaurants. Evidently, having rats running through the kitchen and selling terrible tasting food might work at the current minimum wage, but increase that minimum wage and those marginal businesses go under. Can someone tell me what the downside is? Marginal businesses go under, successful businesses improve their ROIC, and workers make the same amount of income working less hours. Where the hell is the downside.

 

[Geaux4it]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

But paying CEO's MILLIONS is NOT bad for business or consumers....giving workers a livable wages=horrible for economy,giving CEO's millions in wages=great for economy....ahhh to be a cuckservative simpleton.

Don't worry about the 'Jone's'. Become one

-Geaux

 

[Geaux4it]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

Holy epiphany Batman. You mean if you pay a higher wage you get more productive workers. Who would have thunk it.

And wait, you mean a higher minimum wage improves the return on invested capital--damn, wonder how you spin that as a bad thing.

And wow. Just wow. So the "losers" if we increase the minimum wage are low rated restaurants. Evidently, having rats running through the kitchen and selling terrible tasting food might work at the current minimum wage, but increase that minimum wage and those marginal businesses go under. Can someone tell me what the downside is? Marginal businesses go under, successful businesses improve their ROIC, and workers make the same amount of income working less hours. Where the hell is the downside.

Did you miss this part?

Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage

-Geaux

 

[percysunshine]

.
All this will be academic when robots take over and do not demand any wages at all.

Oops...

RIGHTS FOR ROBOTS: EU reveals plans for new class of AI electro-person

 

[Geaux4it]

Thank goodness there will be ample infrastructure jobs requiring blue collar workers. Building the wall is a good example

-Geaux

 

[Conservative65]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

Making a profit may not be a rational choice or non-political passion of the moment, at any given time.

Good capitalists can always make like Henry Ford, and double wages to realize gains from efficiency.

I can get gains in efficiency without raising wages. Tell those that work for me that it's their JOB to do to the best level. If they can't, there are plenty willing to do so at their wage.

 

[Conservative65]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

But paying CEO's MILLIONS is NOT bad for business or consumers....giving workers a livable wages=horrible for economy,giving CEO's millions in wages=great for economy....ahhh to be a cuckservative simpleton.

Don't worry about the 'Jone's'. Become one

-Geaux

That's the problem with many that complain about their wages when they offer a skill set a monkey could be trained to do. They want to live like the Jones's but don't want to improve themselves like the Jones's did to get there. They want what the Jones's have and want the Jones's to provide the funding for it.

 

[Geaux4it]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

But paying CEO's MILLIONS is NOT bad for business or consumers....giving workers a livable wages=horrible for economy,giving CEO's millions in wages=great for economy....ahhh to be a cuckservative simpleton.

Don't worry about the 'Jone's'. Become one

-Geaux

That's the problem with many that complain about their wages when they offer a skill set a monkey could be trained to do. They want to live like the Jones's but don't want to improve themselves like the Jones's did to get there. They want what the Jones's have and want the Jones's to provide the funding for it.

That is because there is no longer a 'MVP' and everyone gets a trophy.They don't want to put the hours in the gym, or ball field, to excel like a young Jones did however, they wanted his trophy. The underachievers want something for nothing. Pretty sad

-Geaux

 

[tracker145]

Thank goodness there will be ample infrastructure jobs requiring blue collar workers. Building the wall is a good example

-Geaux

The best way to raise the pay of entry level employees is through competition. The lower the unemployment rate is the tougher it is to find good help. When unemployment is 3% you have businesses fighting for help and will offer higher wages to the help. I was self employed and we never paid minimum... it was always a few $$ more per hr and better benefits.

 

[August West]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

But paying CEO's MILLIONS is NOT bad for business or consumers....giving workers a livable wages=horrible for economy,giving CEO's millions in wages=great for economy....ahhh to be a cuckservative simpleton.

Don't worry about the 'Jone's'. Become one

-Geaux

That's the problem with many that complain about their wages when they offer a skill set a monkey could be trained to do. They want to live like the Jones's but don't want to improve themselves like the Jones's did to get there. They want what the Jones's have and want the Jones's to provide the funding for it.

When your water main breaks on a frigid winter night try to find one of those low paid monkeys to fix it. Should hard work not be rewarded? 10 men and women died in the steel mill where I spent several decades and countless others lost limbs or were maimed in some way and some arrogant windbag dismisses them as low skilled monkeys. What a POS you are! You wouldn`t last 3 days as a steelworker and probably not one day as a coal miner. An ironworker? I`d give you an hour.

 

[Conservative65]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

But paying CEO's MILLIONS is NOT bad for business or consumers....giving workers a livable wages=horrible for economy,giving CEO's millions in wages=great for economy....ahhh to be a cuckservative simpleton.

Don't worry about the 'Jone's'. Become one

-Geaux

That's the problem with many that complain about their wages when they offer a skill set a monkey could be trained to do. They want to live like the Jones's but don't want to improve themselves like the Jones's did to get there. They want what the Jones's have and want the Jones's to provide the funding for it.

That is because there is no longer a 'MVP' and everyone gets a trophy.They don't want to put the hours in the gym, or ball field, to excel like a young Jones did however, they wanted his trophy. The underachievers want something for nothing. Pretty sad

-Geaux

The underachievers don't just want something for nothing. They demand someone else provide it claiming they have a right to something they didn't earn. There's a difference between wanting and accepting being told no and demanding you have a right to it funded by another person.

As a kid, I'll tell my dad I wanted something. He gave me two options. Want in one hand, shit in the other, and see which one fills up quicker. While the left wouldn't consider that politically correct, they miss the point of what he meant. The meaning was that if you wanted something bad enough, you'd earn it but no one owes it to you because you want it.

 

[Conservative65]

Like everyone knew Obamacare would never make the cut, so to goes the minimum wage. It's bad for the consumer and business

-Geaux
----------

The New York Times would like for you to know that, after attending the annual meeting of the American Economic Association where they sat in on multiple presentations on the economic impacts of minimum wage, they can now confirm what most of us have known for most of our adult lives, namely that basic economic supply/demand models actually work.

Apparently, the NYT was pleasantly surprised when the first presentation suggested that higher minimum wage didn't actually result in job losses, just lower hours, but then quickly realized it's basically the same thing.

At first glance, the findings were consistent with the growing body of work on the minimum wage: While the workers saw their wages rise, there was little decline in hiring. But other results suggested that the minimum wage was having large effects. Most important, the hours a given worker spent on a given job fell substantially for jobs that typically pay a low wage — say, answering customer emails.

Mr. Horton concluded that when forced to pay more in wages, many employers were hiring more productive workers, so that the overall amount they spent on each job changed far less than the minimum-wage increase would have suggested. The more productive workers appeared to finish similar work more quickly.

Unfortunately, the second study left a bit less to the imagination. After studying "tens of thousands of restaurants in the San Francisco area," researchers
Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research found that many lower rated restaurants have a unique way of dealing with minimum wage hikes: they simply go out of business.

A second study presented at the conference suggests another way that employers may respond to a rising minimum wage: simply going out of business.

The husband-and-wife research team of Michael Luca of Harvard Business School and Dara Lee Luca of Mathematica Policy Research identified the ratings of tens of thousands of restaurants in the San Francisco area on the website Yelp and found that many poorly rated restaurants tend to go out of business after a minimum-wage increase takes effect.

Finally, confirming what we've noted multiple times (and basic common sense for that matter), Zane Tankel, an owner of several dozen Applebee’s restaurants in the New York City area, informed the startled New York Times that higher minimum wage simply improves the ROIC profile of capital investments thereby speeding up employee replacement projects....shocking.


New York Times Admits "Higher Minimum Wage May Have Losers" | Zero Hedge

But paying CEO's MILLIONS is NOT bad for business or consumers....giving workers a livable wages=horrible for economy,giving CEO's millions in wages=great for economy....ahhh to be a cuckservative simpleton.

Don't worry about the 'Jone's'. Become one

-Geaux

That's the problem with many that complain about their wages when they offer a skill set a monkey could be trained to do. They want to live like the Jones's but don't want to improve themselves like the Jones's did to get there. They want what the Jones's have and want the Jones's to provide the funding for it.

When your water main breaks on a frigid winter night try to find one of those low paid monkeys to fix it. Should hard work not be rewarded? 10 men and women died in the steel mill where I spent several decades and countless others lost limbs or were maimed in some way and some arrogant windbag dismisses them as low skilled monkeys. What a POS you are! You wouldn`t last 3 days as a steelworker and probably not one day as a coal miner. An ironworker? I`d give you an hour.

I'm not one that demands I be paid a wage/salary above the skills I offer. Those low skilled workers do. They don't say pay me because I offer something worth funding. They demand to be paid more because they don't like what they make.

You make claims about what I could and couldn't do yet you know nothing about me.

 

[Silent Warrior]

Libs will never learn economics. The Philadelphia soda tax just went into effect the first of the year. Lo and behold stores selling pop raised prices to cover the tax. The lib's had figured the stores would just eat the cost and reduce profits. These are the same idiots that think raising a business's expenses by forced raised wages will not have an effect on employees or on pricing. You just can't fix stupid.

 

[Preacher]

Libs will never learn economics. The Philadelphia soda tax just went into effect the first of the year. Lo and behold stores selling pop raised prices to cover the tax. The lib's had figured the stores would just eat the cost and reduce profits. These are the same idiots that think raising a business's expenses by forced raised wages will not have an effect on employees or on pricing. You just can't fix stupid.

CEO=millions-no affect on price Workers=living wage-wages supposedly skyrocket....see what it is,is that the companies KNOW most people are STUPID enough to believe their bullshit lies and who in the hell DOESN'T take advantage of getting MORE money!? Its nothing more than fraud

 

[Winston]

Libs will never learn economics. The Philadelphia soda tax just went into effect the first of the year. Lo and behold stores selling pop raised prices to cover the tax. The lib's had figured the stores would just eat the cost and reduce profits. These are the same idiots that think raising a business's expenses by forced raised wages will not have an effect on employees or on pricing. You just can't fix stupid.

I wouldn't talk about economics if you don't understand the very basics behind a "sin tax".