You are ridiculously uninformed while being supremely overconfident in your baseless opinions.
Giant fuckin oof on your part.
Here’s a simplified explanation of how the minimum wage can affect the labor economy:
Employment Levels:
Effect on Employment: When the government raises the minimum wage, it can lead to increased labor costs for businesses, particularly those in low-wage industries like retail and hospitality. This can result in a reduction in the demand for labor, as some businesses may cut jobs to offset the higher costs.
Effect on Unemployment: Critics argue that increasing the minimum wage may lead to higher unemployment, especially among low-skilled workers. Employers facing higher wage costs might be less willing to hire or retain workers, particularly those with fewer skills or less experience.
Wage Distribution:
Positive Impact on Low-Wage Workers: On the flip side, proponents of minimum wage increases argue that it helps low-wage workers by providing them with a higher income. This can contribute to poverty reduction and improve the standard of living for those at the bottom of the wage scale.
Potential Compression of Wage Structure: However, some economists caution that raising the minimum wage might lead to a compression of the overall wage structure. If the minimum wage increases significantly, there could be a ripple effect causing a narrowing of the wage gap between low-skilled and higher-skilled workers.
Inflation and Prices:
Inflationary Pressures: An increase in the minimum wage can contribute to inflationary pressures. As businesses face higher labor costs, they may pass on these costs to consumers through higher prices for goods and services. This, in turn, can impact the purchasing power of consumers.
Productivity and Innovation:
Incentive for Productivity Improvement: A higher minimum wage can create an incentive for businesses to invest in productivity improvements and automation to offset increased labor costs. This can lead to advancements in technology and innovation in the long run.
Regional and Industry Variances:
Differential Impact: The impact of changes in the minimum wage can vary across regions and industries. In areas with a lower cost of living, the same increase in the minimum wage might have a different impact compared to higher-cost regions.
The effects of minimum wage changes on the overall labor economy are complex and multifaceted and to offhandedly call it “NOT RELEVANT” is beyond moronic.
Might be time to go back and look at your highschool econ homework.
It’s like the 3rd or 4th time I’ve explained this with increasing levels of detail.
Dude is just a ficking moron IMO and completely dishonest in how he discusses topics. He just ignores anything that might show his view to be the slightest bit incorrect and barrels forward… Or he’s a chat bot.
It’s at least a little bit interesting IMO that this is something of a pattern I’ve noticed. I had plenty of stupid arguments on Reddit, but at least those ones would change over time as new information was introduced and responded to. Here, it seems way more common for people to just ignore your rebuttals to their points and just repeat them without adding anything new. Are people here just more stubborn, or what?
You are ridiculously uninformed while being supremely overconfident in your baseless opinions.
Giant fuckin oof on your part.
Here’s a simplified explanation of how the minimum wage can affect the labor economy:
Employment Levels:
Effect on Employment: When the government raises the minimum wage, it can lead to increased labor costs for businesses, particularly those in low-wage industries like retail and hospitality. This can result in a reduction in the demand for labor, as some businesses may cut jobs to offset the higher costs.
Effect on Unemployment: Critics argue that increasing the minimum wage may lead to higher unemployment, especially among low-skilled workers. Employers facing higher wage costs might be less willing to hire or retain workers, particularly those with fewer skills or less experience.
Wage Distribution:
Positive Impact on Low-Wage Workers: On the flip side, proponents of minimum wage increases argue that it helps low-wage workers by providing them with a higher income. This can contribute to poverty reduction and improve the standard of living for those at the bottom of the wage scale.
Potential Compression of Wage Structure: However, some economists caution that raising the minimum wage might lead to a compression of the overall wage structure. If the minimum wage increases significantly, there could be a ripple effect causing a narrowing of the wage gap between low-skilled and higher-skilled workers.
Inflation and Prices:
Inflationary Pressures: An increase in the minimum wage can contribute to inflationary pressures. As businesses face higher labor costs, they may pass on these costs to consumers through higher prices for goods and services. This, in turn, can impact the purchasing power of consumers. Productivity and Innovation:
Incentive for Productivity Improvement: A higher minimum wage can create an incentive for businesses to invest in productivity improvements and automation to offset increased labor costs. This can lead to advancements in technology and innovation in the long run.
Regional and Industry Variances:
Differential Impact: The impact of changes in the minimum wage can vary across regions and industries. In areas with a lower cost of living, the same increase in the minimum wage might have a different impact compared to higher-cost regions.
The effects of minimum wage changes on the overall labor economy are complex and multifaceted and to offhandedly call it “NOT RELEVANT” is beyond moronic.
Might be time to go back and look at your highschool econ homework.
I mean, if he went to high school in a red state, maybe his high school econ homework would explain why he’s like this.
It’s like the 3rd or 4th time I’ve explained this with increasing levels of detail.
Dude is just a ficking moron IMO and completely dishonest in how he discusses topics. He just ignores anything that might show his view to be the slightest bit incorrect and barrels forward… Or he’s a chat bot.
It’s at least a little bit interesting IMO that this is something of a pattern I’ve noticed. I had plenty of stupid arguments on Reddit, but at least those ones would change over time as new information was introduced and responded to. Here, it seems way more common for people to just ignore your rebuttals to their points and just repeat them without adding anything new. Are people here just more stubborn, or what?
Now that you mention it, yea I have noticed it as well.
Dunno what it is.