Minimum Wage Laws

One economic study in support of your premise or are you incapable?

 

I’m just providing information. I’ve read summaries of studies on the minimum wage increases in Seattle and they claim little or no evidence of inflation. That’s why I looked up raw numbers. Studies are your thing, I’m only interested in reality.

 

Try Washington D.C. prices.

 

Raw data shows nothing. Given the multiple variables at play, it's the biased scrambling for the spurious. Get back to me when you've bothered to research the real world evidence.

 

Why don’t you tell me why Seattle has higher inflation? Facts aren’t biased. Reporting there isn’t inflation when there is, is lying. If you study folks want to be taken seriously, show what caused the extra inflation, don’t deny its existence.

 

Inflation can reflect numerous factors. I'm sure you know that. Thus, you are willingly adopting the spurious.

 

So Seattle increased the cost of labor and prices increased? Hmmm, who would have thought? I'm sure it's only coincidence.

 

Empirical evidence shows very little effect. Of course, we wouldn't expect much. Dynamic monopsony, based on job search frictions, predicts greater underpayment in apparently competitive industries. Such industries allow for less knock on price effects.

It's a shame you haven't bothered educating yourself in supply and demand analysis!

 

My expertise in in software not economics. As much as I'd like to engage here I'm afraid I just don't have the time to spin up. So, either state your arguments in layman's terms or feel free to ignore me. Thanks

 

Of course. But why intentionally ignore minimum wage as one possibility when the facts point in that direction? If you think Seattle’s inflation above other areas is due to other factors, give some evidence.

 

Somebody that hasn't finished high school, working in a job that requires no skills, should not be middle class with a 40 hour week.

 

I'm no economist, I just know to know supply and demand when talking minimum wages...

 

I intentionally ignore the spurious because that's just rational. However, if there is anything in it, it should be easy to refer to correctly undertaken hypothesis test.

 

So post the study that shows Seattle’s extra inflation is not in any way due to increasing minimum wage. Should be easy for you.

 

Absolutely correct. Minimum wage increases can't cause inflation because they cause recessions. Only one minimum wage increase in recent history didn't cause a recession. That was in the 1990's when business was driven by the tech bubble that started in 1992-1993 and the Y2K corporate / government spending imperatives. Interesting how, in the middle of a 40% minimum wage increase that melted down the economy, all the geniuses came out to make stuff up about minimum wage increases. They also made stuff up about how toxic paper backed by the full faith and credit of the Federal government care of Fannie & Freddie couldn't possibly have had anything to do with overrating those securities.

 

Then I assume your choice of language is only to obfuscate. Kind of makes me wonder why you choose to post here at all. Anyway, have a good day.

 

That sounds like my generation.

Millennials and generation Z'ers want to live with their parents until they are in their 40's.

 

Washington DC is an embarrassment.

 

Ridiculous claim after ridiculous claim! Can you refer to one credible economic publication making that claim?

 

Another ridiculous comment. I've referred to the basics of supply and demand. Blaming me for your failure to understand those basics really won't wash. My advice? Reduce the belligerence, increase the reading.

 

Look at history and you won't have to refer to left wing economic drivel. These are people who thought the USSR had it all over the US right up to the day socialism imploded on them.

Start with Jimmy's recession that hammered the early months of the Reagan Administration.

 

Reiver doesn't like empirical evidence. Accept when he does...

 

Don't be shy. Refer to one economic publication in support. Good luck!

 

Perhaps independent research is too much to ask:

H.R.3744 - An Act to amend the Fair Labor Standards Act of 1938 to increase the minimum wage rate under that Act, and for other purposes.95th Congress (1977-197

https://www.congress.gov/bill/95th-congress/house-bill/3744

$2.30 - $2.65 January 1, 1978
$2.65 - $2.90 January 1, 1979
$2.90 - $3.10 January 1, 1980
$3.10 - $3.35 January 1, 1981
Carter, the Democrats and their minimum wage increases gave us recessions from
January 1980 to July 1980 and
July 1981 to November 1982

 

Then the Feds increased the minimum wage by
13.4% on April 1, 1990, and
11.8% on April 1, 1991
After George HW Bush vetoed the first attempt:
https://www.congress.gov/bill/101st-congress/house-bill/2

H.R.2710 - Fair Labor Standards Amendments of 1989
Passed on 11/17/1989 making George HW Bush a one term President:
https://www.congress.gov/bill/101st-congress/house-bill/2710

The first increase was followed by a recession that started in July 1990
and ended in March 1991