US study lays bare extreme pay-ratio problem

Discussion in 'Economics & Trade' started by LafayetteBis, May 16, 2018.

  1. Ndividual

    Ndividual Well-Known Member

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    Suppose Bob is asking for $8 an hour and Adam is only willing to pay the minimum wage, $7.25 an hour and then George comes and tells Adam he would be willing to do the job for $5 an hour?
     
    Last edited: Jul 18, 2018
  2. Longshot

    Longshot Well-Known Member

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    It sounds like Adam would then decide that George (you couldn't come up with a name beginning with 'C'?) is his best bargain.
     
  3. Ndividual

    Ndividual Well-Known Member

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    His first name is Carlos, George is his last name. Could/would/should government prosecute the employer for paying less than the minimum wage when it was at the employees request?
    In the late 80's, my wife (non English speaking) got a job paying $10 an hour. Most of the employees were part time workers who would not accept full time employment and only work to the point that their income would not reduce their government benefits.
     
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  4. Reiver

    Reiver Well-Known Member

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    I don't really care about your support for underpayment. It's based on a lack of understanding of supply and demand, nothing more.

    The law of one price is based on the premise that a single equilibrium is formed at market level. All firms then have to pay that wage (ie they effectively face a horizontal labour supply at the market wage). We know that's bobbins. Empirical analysis confirms that a wage distribution exists. Supply and demand confirms that, once job search exists, the employer has wage making power.
     
    Last edited: Jul 18, 2018
  5. Longshot

    Longshot Well-Known Member

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    The employee has wage making power.
     
  6. Reiver

    Reiver Well-Known Member

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    Again, you show zero comprehension of supply and demand. Wage making power reflects elasticity to labour supply. By definition, that refers to the employer.
     
  7. Longshot

    Longshot Well-Known Member

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    You show zero comprehension of supply and demand. The seller of a service dictates the price for which she is willing to sell such service.
     
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  8. Reiver

    Reiver Well-Known Member

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    Given your knowledge of economics is zero, there's not much purpose to your efforts. Everything I have said is perfectly correct. Teach yourself some economics and then get back to me. Stop just repeating the ideological drivel from group thought sites.
     
  9. Longshot

    Longshot Well-Known Member

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    So you aren't actually saying anything. Typical. Got it.
     
  10. james M

    james M Banned

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    it that why some people make $30 million a year?
     
  11. james M

    james M Banned

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    so a guy who makes his wage at $30 million a year reflects elasticity of supply?
     
  12. james M

    james M Banned

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    so if he taught himself some economics he'd know that we need a libcommie govt to set wages and prices and intervene 10001 other ways in the economy?
     
  13. Reiver

    Reiver Well-Known Member

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    Referring to economics to you bunch isn't going to be easy! Perhaps the state should include economics education in the curriculum? Might empower you lot!
     
  14. Longshot

    Longshot Well-Known Member

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    I'm only one person. I'm not sure why you call me 'you bunch'.
     
  15. Reiver

    Reiver Well-Known Member

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    As I said, fake libertarians are victims of group funded sites funded by the rich. I've met quite a few genuine libertarians in my time (mainly Anarchists, but a splattering of intelligent Austrian Economics types). All can apply economics. All understand supply and demand.
     
  16. Longshot

    Longshot Well-Known Member

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    Okay, so you were being collectivist. Got it.
     
  17. Reiver

    Reiver Well-Known Member

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    When confronted with the sad reality, you fellows do not understand any economics, you return to your group thought script.

    Real libertarians understand political economy. They aren't purely reliant on ideological flounce.
     
  18. bringiton

    bringiton Well-Known Member

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    None false, stupid and dishonest enough to qualify as one in your estimation, anyway.
     
  19. Reiver

    Reiver Well-Known Member

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    Eliminate the blubbering and we're left with "no"
     
  20. danielpalos

    danielpalos Banned

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    a fifteen dollar an hour minimum wage and unemployment compensation simply for being unemployed in our at-will employment States will solve our problem.
     
  21. bringiton

    bringiton Well-Known Member

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    Eliminate the snot from ALL of your posts, and we are left with... nothing.
     
  22. Reiver

    Reiver Well-Known Member

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    No need to flounce. The point is obvious: without ant understanding of labour markets, what good is your rant?
     
  23. Quadhole

    Quadhole Well-Known Member

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    This is the DUMB comment you get from the right or anyone uneducated every time taxes are brought up. It really shows just how stupid Americans are today. They will here it on CNBC or FOX and repeat. When you have all the money and you pay an equal % to the poor guy, of course you will pay more.
    ANd so it should be, and much much further.... It should be just like 1970. I wont go to the Kennedy cut, I actually think that would be too much. But todays is absurd.
     
  24. Quadhole

    Quadhole Well-Known Member

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    LIE
     
  25. james M

    james M Banned

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    why should it be? You clean forgot to tell us?
     

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