Minimum wage increases are 'supercharging' economy, says U.S. multimillionaire

darkbeaver

the universe is electric
Jan 26, 2006
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Tecknowleggy has reached the mother load at last. Meat puppets are no longer needed. The machines will eat oil and minerals and excrete gold bars and diamonds without the need of toilet paper. We can all retire back to the trees.
 

tay

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May 20, 2012
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Seattle Food Jobs Soar After $11 Minimum Wage

In short, the number of restaurant jobs dropped by 2,000 between January 2015 and May, but then increased by 2,900 between May and November, again after the April increase to $11 an hour. Net gain from January to November was 900 jobs.

It’s impossible to say that the increased minimum wage, or anticipation of the hike, had no influence on the number of food jobs. Perhaps restaurant employment would have grown faster (although that would have been out of step with the overall historical trends in the area). Maybe some number of restaurateurs or food franchise owners gave up and closed shop with increased wages adding to other pressures.

But what is clear is that the $11 minimum wage failed to crush restaurant employment as opponents apparently hoped to prove.

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Forbes Welcome
 

JLM

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Nov 27, 2008
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Seattle Food Jobs Soar After $11 Minimum Wage


But what is clear is that the $11 minimum wage failed to crush restaurant employment as opponents apparently hoped to prove.

more

Forbes Welcome

It will, A & W bastards here just jumped the price of a cup of coffee 20 cents a cup................I'll be drinking more at home. :) :) :)
 

JLM

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Nov 27, 2008
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Curious Cdn

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Feb 22, 2015
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That's a really old trick: "supercharging" an economy by printing a mountain of money, giving it away thus debasing the currency and creating the illuson that everyone has "more". It's a trick that probably goes right back to the beginning of money and we never bloody learn.
 

Jinentonix

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Sep 6, 2015
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Olympus Mons
Similar to the people looking to reduce their hours after the min. wage bump so they wouldn't lose their public housing, others looked to reduce their hours so they could still qualify for food stamps.
And therein lays the problem. They want $15/hr but now don't want to have to work 40 hours because it'll mess with what they think they're entitled to.
Quite frankly, anyone who requests fewer hours at the higher wage so they can continue getting their freebies should be cut off the freebies altogether. They pissed and moaned for years about not making enough to live on and when they finally get it, the whiney, entitled little f*cks don't want it.
 

MHz

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The teenies never had jobs to lose. The ones with student loans are the next in line to be headed for Hobo Alley.
 

JLM

Hall of Fame Member
Nov 27, 2008
75,301
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Vernon, B.C.
Similar to the people looking to reduce their hours after the min. wage bump so they wouldn't lose their public housing, others looked to reduce their hours so they could still qualify for food stamps.
And therein lays the problem. They want $15/hr but now don't want to have to work 40 hours because it'll mess with what they think they're entitled to.
Quite frankly, anyone who requests fewer hours at the higher wage so they can continue getting their freebies should be cut off the freebies altogether. They pissed and moaned for years about not making enough to live on and when they finally get it, the whiney, entitled little f*cks don't want it.


Yep, it's only a matter of time before people will be demanding a $million a day for doing f**k all! :) :)
 

Curious Cdn

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Feb 22, 2015
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What happens is that they increase the money supply to cover the increased demand which debases the currency, making it a little less valuable ... just about in proportion to the minimum wage increase. It's all an illusion. Nobody is really making more. Those of us who didn't get the increase are making a little less, though.
 

JLM

Hall of Fame Member
Nov 27, 2008
75,301
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Vernon, B.C.
What happens is that they increase the money supply to cover the increased demand which debases the currency, making it a little less valuable ... just about in proportion to the minimum wage increase. It's all an illusion. Nobody is really making more. Those of us who didn't get the increase are making a little less, though.


Exactly!
 

tay

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May 20, 2012
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Brendan Duke examines the connection between wage growth and worker productivity, and makes the case that the former may lead to the latter:

The 1929–1950 increase in wages was at first a result of several policies that directly raised workers’ wages, including the first federal minimum wage, the first federal overtime law, and the National Labor Relations Act, which made it easier for workers to join a union and bargain with their employers. The entry of the United States into World War II further drove investment higher, as the economy converted into what Gordon describes as a “maximum production regime.”

It is striking that during this period of rapid productivity growth, wages for production workers grew even faster than productivity growth did. The current debate about whether a typical worker’s compensation has kept track with the economy’s productivity typically envisions productivity growth as the precondition for wage growth. But Gordon’s research implies that the relationship can go both ways: Not only can productivity growth raise wages, but higher real wages also can boost productivity growth—the main reason for slow gross domestic product growth—by giving firms a reason to purchase capital.

Can higher wages raise productivity growth in 2017? Basic economic theory and common sense suggests that an increase in the price of labor—wages—achieved through higher labor standards will cause firms to invest in more capital, raising the economy’s productivity


https://www.americanprogress.org/is...42040/to-raise-productivity-lets-raise-wages/
 

Curious Cdn

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Feb 22, 2015
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I Know. Isn't it Terrible that the Invention of the Backhoe put all those Ditchdiggers Out of Work?

Luddite.

No doubt, a "Lawyer" algorythm is under development, right now. Put it on wheels so that it can chase ambulances and Bob's your uncle.
 

tay

Hall of Fame Member
May 20, 2012
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If you thought the minimum wage only moved in one direction, then Missouri Republicans have a surprise for you.

After St. Louis leaders raised the wage floor for workers within city limits, the state GOP recently passed what’s known as a statewide “preemption” law, forbidding localities from taking such matters into their own hands. On Friday, Missouri Gov. Eric Greitens (R) said he would let the law go into effect, thereby barring cities and counties from setting a minimum wage higher than the state level.

For low-wage earners in St. Louis itself, the new law will have a startling consequence: It will actually push the minimum wage back down, from the city-approved $10 per hour to the state-approved $7.70. The downgrade is slated to take effect on Aug. 28.

For someone earning the bare minimum, that’s a potential cut of 23 percent.

Missouri Republicans Lower St. Louis Minimum Wage From $10 To $7.70 | HuffPost
 

Danbones

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Sep 23, 2015
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17 states have similar wage limiting legislation in place



Carnivorous Clock eats bugs, begins doomsday countdown


when the machines come, lawyers will be the first to go.
:)