just a thought

Orlando, FL

#64 Feb 13, 2013
Something has gotta to give and more then likely will be sooner then later. Last nights speech proved that.
Michael

United States

#65 Feb 13, 2013
Sorry to cause a fire storm. I am unemployed and looking for work. I thought it was a good thing?
Punisher

Jonesboro, AR

#66 Feb 13, 2013
Michael wrote:
Sorry to cause a fire storm. I am unemployed and looking for work. I thought it was a good thing?
Its never a good thing, Great Dane is hiring, and they are well above min wage, look into them.
FactsDontMatter

Springdale, AR

#67 Feb 14, 2013
Punisher wrote:
<quoted text>
I have a college education, which required me to take macroeconomics and learn about these things. So lay out your case and prove me wrong, without your petty little insults.
I had a math for the Liberal Arts class in college, I learned that 1+1=name your amount.
Sam I am

Mountain Home, AR

#68 Feb 14, 2013
When minimum wage goes up so does everything else.
long time employee

Jonesboro, AR

#69 Feb 14, 2013
i think if they are going to raise minimum wage it should apply to everyone if the raise it by 1.00 then everyone that works should get that 1.00. just not the ones that are making 7.25 an hour. we should not be punished for keeping our jobs for a long time. i know prices will go up but what about our wages
FactsDontMatter

Springdale, AR

#70 Feb 14, 2013
Entry level jobs are just that. That is what minimum wage is for.

As you gain a work ethic and skills your wage goes up.

There is NO point in paying someone who is not going to do the job.

Being there just for a paycheck doesn't warrant a livable wage.

Common sense is not so common anymore.

Since: Feb 13

Booger Holler

#71 Feb 14, 2013
http://escholarship.org/uc/item/86w5m90m

Abstract:
Debate among labor economists on the pros and cons of a minimum wage law has come to focus on whether labor markets are competitive or monopsonistic. Using principles and concepts of institutional economics, the author argues that this perspective on minimum wages is too narrow. In particular, he uses institutional theory to develop four theoretical rationales for minimum wage legislation: setting a floor on wages to offset imperfect competition and inequality of bargaining power; promote macroeconomic stabilization and full employment; contribute to long-term efficiency and growth; and incorporate labor market externalities and social costs of labor. One revisionist implication is that a minimum wage under plausible conditions may increase economic efficiency even in a purely competitive labor market.[ABSTRACT FROM AUTHOR]

KAUFMAN, B. E.(2010). INSTITUTIONAL ECONOMICS AND THE MINIMUM WAGE: BROADENING THE THEORETICAL AND POLICY DEBATE. Industrial & Labor Relations Review, 63(3), 427-453.

Abstract:
This paper investigates the possibility that the imposition of a minimum wage increases employment in the affected sector, measured in terms of hours of work, and lowers product prices. Unlike related prior theoretical research, I consider a neoclassical perfect information economy. Both labor and product markets are assumed to be perfectly competitive. Workers choose the number of hours of work and their effort level. Workers can potentially, but not necessarily, differ in their preferences over income, leisure, and effort. Effort is perfectly observable by the employers. The general framework that highlights the channels through which a minimum wage can increase employment and reduce prices is introduced and necessary and sufficient conditions derived. The paper also develops a number of comparative statics and some illustrative examples. The results provide a simple theoretical foundation that explains some recent findings of the empirical literature on minimum wages. Auxiliary results help explain the effects of minimum wage on the entire wage distribution in a way that is consistent with empirical findings. Finally, welfare analysis shows that worker welfare and employment tend to go in opposite directions; in particular, if employment increases after the imposition of the minimum wage, worker welfare will be reduced, though not necessarily vice versa (the opposite is true for consumer welfare). Strikingly, if a minimum wage increases worker welfare, the chief beneficiaries are not the affected workers but those with incomes that exceed the minimum wage.

George, D.(n.d). Can a minimum wage increase employment and reduce prices in a neoclassical perfect information economy?. Journal Of Mathematical Economics, 43657-674. doi:10.1016/j.jmateco.2007.02. 003
Punisher

Jonesboro, AR

#72 Feb 14, 2013
long time employee wrote:
i think if they are going to raise minimum wage it should apply to everyone if the raise it by 1.00 then everyone that works should get that 1.00. just not the ones that are making 7.25 an hour. we should not be punished for keeping our jobs for a long time. i know prices will go up but what about our wages
Well if prices go up to match your wage increase, then didn't you waste your time doing it?
Punisher

Jonesboro, AR

#73 Feb 14, 2013
Pro education wrote:
http://escholarship.org/uc/ite m/86w5m90m
Abstract:
Debate among labor economists on the pros and cons of a minimum wage law has come to focus on whether labor markets are competitive or monopsonistic. Using principles and concepts of institutional economics, the author argues that this perspective on minimum wages is too narrow. In particular, he uses institutional theory to develop four theoretical rationales for minimum wage legislation: setting a floor on wages to offset imperfect competition and inequality of bargaining power; promote macroeconomic stabilization and full employment; contribute to long-term efficiency and growth; and incorporate labor market externalities and social costs of labor. One revisionist implication is that a minimum wage under plausible conditions may increase economic efficiency even in a purely competitive labor market.[ABSTRACT FROM AUTHOR]
KAUFMAN, B. E.(2010). INSTITUTIONAL ECONOMICS AND THE MINIMUM WAGE: BROADENING THE THEORETICAL AND POLICY DEBATE. Industrial & Labor Relations Review, 63(3), 427-453.
Abstract:
This paper investigates the possibility that the imposition of a minimum wage increases employment in the affected sector, measured in terms of hours of work, and lowers product prices. Unlike related prior theoretical research, I consider a neoclassical perfect information economy. Both labor and product markets are assumed to be perfectly competitive. Workers choose the number of hours of work and their effort level. Workers can potentially, but not necessarily, differ in their preferences over income, leisure, and effort. Effort is perfectly observable by the employers. The general framework that highlights the channels through which a minimum wage can increase employment and reduce prices is introduced and necessary and sufficient conditions derived. The paper also develops a number of comparative statics and some illustrative examples. The results provide a simple theoretical foundation that explains some recent findings of the empirical literature on minimum wages. Auxiliary results help explain the effects of minimum wage on the entire wage distribution in a way that is consistent with empirical findings. Finally, welfare analysis shows that worker welfare and employment tend to go in opposite directions; in particular, if employment increases after the imposition of the minimum wage, worker welfare will be reduced, though not necessarily vice versa (the opposite is true for consumer welfare). Strikingly, if a minimum wage increases worker welfare, the chief beneficiaries are not the affected workers but those with incomes that exceed the minimum wage.
George, D.(n.d). Can a minimum wage increase employment and reduce prices in a neoclassical perfect information economy?. Journal Of Mathematical Economics, 43657-674. doi:10.1016/j.jmateco.2007.02. 003
It says this paper investigates the possibility...well we have had a minimum wage for 80 f'in' years man! If it was going to work, it would have already! There's no need for possibility, we've been a case study for 4 generations.

Since: Feb 13

Booger Holler

#74 Feb 14, 2013
Punisher wrote:
<quoted text>
It says this paper investigates the possibility...well we have had a minimum wage for 80 f'in' years man! If it was going to work, it would have already! There's no need for possibility, we've been a case study for 4 generations.
Did you actually read the "blog" you copied and pasted? If you had you would have seen the same use of language. I call double standard! Did you actually attempt to confirm research cited in links provided in the "blog" you copied and pasted? Then you know half the links were dead and the others were links to other blogs, not my definition of emperical.. Until you have something intelligent to say..........
guest

Paragould, AR

#75 Feb 14, 2013
Do the math folks wage goes up 17% so will everything else go up 17%. Simple math. Payroll taxes will increase for the worker and employer. Insurace, transportation, fule, food, power, education, cloths all prices will increase and business will increase prices and reduce labor force to off set the increase. Simple math! Sounds good out most will lose out on this.
qwe

Memphis, TN

#76 Feb 14, 2013
Pro education wrote:
If minimum wage had kept up with inflation it would be over $10/hr.
If minimum wage were $10/hr, inflation would be much higher.
qwe

Memphis, TN

#77 Feb 14, 2013
long time employee wrote:
i think if they are going to raise minimum wage it should apply to everyone if the raise it by 1.00 then everyone that works should get that 1.00. just not the ones that are making 7.25 an hour. we should not be punished for keeping our jobs for a long time. i know prices will go up but what about our wages
oDumbo wants to punish all the hard working Americans.
Wow

Marked Tree, AR

#78 Feb 14, 2013
guest wrote:
Do the math folks wage goes up 17% so will everything else go up 17%. Simple math. Payroll taxes will increase for the worker and employer. Insurace, transportation, fule, food, power, education, cloths all prices will increase and business will increase prices and reduce labor force to off set the increase. Simple math! Sounds good out most will lose out on this.
Just like I said in my previous post, but some people can't read and think at the same time. It's a vicious, never ending circle. He pays me, I pay you, you pay him and on and on and on........Nobody wins. It's an illusion and foolish to think so.
guest

Paragould, AR

#79 Feb 14, 2013
So true
Wow wrote:
<quoted text>Just like I said in my previous post, but some people can't read and think at the same time. It's a vicious, never ending circle. He pays me, I pay you, you pay him and on and on and on........Nobody wins. It's an illusion and foolish to think so.
Punisher

Overland Park, KS

#80 Feb 14, 2013
Pro education wrote:
<quoted text>
Did you actually read the "blog" you copied and pasted? If you had you would have seen the same use of language. I call double standard! Did you actually attempt to confirm research cited in links provided in the "blog" you copied and pasted? Then you know half the links were dead and the others were links to other blogs, not my definition of emperical.. Until you have something intelligent to say..........
Increasing min wage is the economic equivalent of alchemy. There's no way that you can increase the amount of money a menial job is worth and not expect that cost to be passed on. If President Soetoro thinks that people address really trying to raise families on minimum wage jobs he's a moron too. They would qualify for enough assistance to make their wage disposable income. Can you argue that a family of four grossing less than 35k a year didn't qualify for an huge amount of government benefits? The only way it's a good idea is if we require people to keep a job to qualify for benefits, then increase minimum wage without changing the requirements so they are disqualified to recieve entitlements. Anything else is just a scheme for the government to steal wealth.
Old Guy

Jonesboro, AR

#81 Feb 14, 2013
Here is another side to the story. When minimum wage goes up, retail prices go up, but for those living on social security or other FIXED incomes we do not get a pay raise therefore we spend less and that equates to less jobs for the minimum wage people.

I'm not saying that they don't NEED more money. But unless your on welfare, your wages come from your employers customers who purchase his goods or services.

It's a vicious cycle and I feel for the younger generation who have not learned to live below their means. That means no mater what your income, spend less than your income.

Food and shelter are needs.

Cell phones, brand name clothes, jewelry, booze, fast food and cigarettes are WANTS, NOT NEEDS.

Many of us grew up just fine with hand me down clothes, no cell phones, no cable tv, many of us had no tv's at all.
We ate food from the garden and an occasional trip to Mc Donalds was a treat.
UCantMakeItUp

Springdale, AR

#82 Feb 14, 2013
Over 173 years a silver dollar was equal to a paper dollar.

Over that same tine an ounce of gold was $20.00.

There were rich and poor.

Now, today for a silver dollar, still an ounce of silver, you will fork over $31.50.

Today that $20.00 gold piece, still an ounce of gold, will have you shelling out $1,600.00.

Our fiat paper worthless Federal Reserve Notes
are keeping us in bondage.

Pay me nine silver dollars an hour.

Heck, pay me 7 and a half silver dollars an hour and I'll be better off than most.

guest

North Little Rock, AR

#83 Feb 14, 2013
blah blah blah

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