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Bernie's lesson in applied economics
  #1  
Old 07-23-2019, 02:31 PM
mjr mjr is offline
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Default Bernie's lesson in applied economics

When his staffers demand $15/hour, what does he do?

He lets people go, and tells others to not work more than 40 hours per week.

https://www.youtube.com/watch?v=JUyS7WH3EYA

And as a side note, I predicted the following:

https://www.youtube.com/watch?v=klMNwYPHkJA

Several of you said that thinking like this was ridiculous when I brought it up, but again I ask: Why not $25/hour? or $30/hour? or $50/hour?
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  #2  
Old 07-30-2019, 06:24 PM
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catcul catcul is offline
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Quote:
Originally Posted by mjr View Post
When his staffers demand $15/hour, what does he do?

He lets people go, and tells others to not work more than 40 hours per week.

https://www.youtube.com/watch?v=JUyS7WH3EYA

And as a side note, I predicted the following:

https://www.youtube.com/watch?v=klMNwYPHkJA

Several of you said that thinking like this was ridiculous when I brought it up, but again I ask: Why not $25/hour? or $30/hour? or $50/hour?
I hope this hypocrite isn't nominated for the presidential election. He's as bad as the abusive CEOs he supposedly hates. As for the minimum wage, inflation will dictate $50/hour eventually. The minimum wage is too low now.
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Old 07-31-2019, 06:18 PM
s_stabeler s_stabeler is offline
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I think there might be a misunderstanding in the debates around minimum wage. I don't think anybody disagrees that some companies would just cut staff numbers. However, it's a false equivalence to say that they have to.

as for why not $X arbitary figure, the point is that had the MW risen with inflation, it would have been higher than it is today. maybe not quite $15, but IIRC the MW in 1968 was $12 in 2019 dollars. The issue is that you can't live on MW, yet there are whole industries where it's difficult to get higher than MW. Not to mention the absolute farce that si requiring experience for a job- meaning the job can't realistically be filled by a teenager looking to earn a little extra money (and I often laugh at that, since in the stereotypical example- retail- then for many of the jobs that pay MW, some of the jobs have shifts that would include times when a teenager would be in school) yet the argument is that MW jobs aren't supposed to be lived on.

Essentially, the problem is that -wrongfully IMHO- a perception has developed that it's all right if someone has to work literally all their waking hours in order to scrape a living. Not to earn extra money for luxuries- just to afford the basics. That isn't right.

I'd also note that funnily enough, the situation where it's hard to find job security tends to correspond to a lack of protection of people's jobs. When France introduced a new type of contract that allowed much easier termination, guess what happened? most new jobs were of that type and it didn't even help the problem it was supposed to (youth unemployment)

So as you might have picked up, I do think that at-will employment is the main problem. It doesn't have to be impossible to fire someone, just that there needs to be a procedure for terminating someone's job that is stuck to. As opposed to now, where "manager got out the wrong side of bed this morning" is a good enough reason.
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