Message from @mar77i
Discord ID: 544518237887660042
Still, I am not sure what problem you are solving. You seem to imply it, but can you state it please?
You want to get rid of coal miners?
lol no.
How is that related to the minimum wage?
I am confused as hell right now.
It's it's because we were talking with mar77i and you jumped in the middle of the discussion
My thesis was that minimum wage leads to the price of labor misstating its worth. All theoretical foundation points to it, all outcomes point to it.
What are we debating?
I don't think youtubers or coal miners would fall in any of those categories.
I mean people who grew up in a bad place and only get in deeper shit trying to make ends meet gluing greeting cards or whatever.
I jumped in? I am not sure. I am slow to reply because I am at work.
@-𝕋𝕖𝕘𝕣𝕒- as a matter of fact @Undead Mockingbird started addressing a question I asked before we started discussing other things.
oh
But if the conversation moved on already, that's fine.
carry on then
I'm studing anyway
Also, maybe we can discuss miners whose mines were shut down... apparently IT isn't very popular in those circles.
Okay, but is that still related to the minimum wage?
if all you ever did was digging up some minerals and need new opportunities, you won't be educated or specialised in (m)any other topics. so you might end up failing to make ends meet.
Yes, that is true.
But how is that the fault of market demands?
The price tag assigned to your labor simply reflects supply of and demand for your labor.
I don't know how it can be brought into relation with market demands. I'll go and assume that maybe employing people for mind-numbingly dumb work isn't fun either, moreso if it's just for the sake of it. So why is everyone losing their shits over "Learn to code"?
The question is rather: What is a meaningful thing for an affected govt to invest in, so that people can help themselves?
It sounded like the minimum wage was the fix for some specific problem we had articulated.
@Undead Mockingbird I'm as doubtful of the minimum wage as the next guy, really. The question where you reentered my field of attention was aimed at alternatives to the minimum wage, remember?
> at alternatives to the minimum wage, remember?
Yes, but if we both agree it's not needed, why search for an alternative?
What do you replace a tumor with?
Do we want people being unable to make ends meet?
People are less able to make ends meet with no job at all.
It simply raises the bar for what an employer has to pay and if they had not hired you at that wage before, it means that afterwards the price for your labor is overstated, which means they are not going to hire you after.
I approve of that, mostly. If they have jobs and dig themselves into payday loans, maybe no job would actually save them keeping to try unsuccessfully.
The people who do get hired at the increased minimum wage after come at the expense at the total demand for labor.
> maybe no job would actually save them
No, I am saying that they are not going to have a job if the minimum wage prevents them from being hired.
That is a fact up to the point where markets are actually np-complete themselves, therefore not self-regulating in certain short time frames.
I am not sure if this can be related to NP-completeness.
howso?
I am not aware that there is a precise calculation of prices happening in markets to that degree.
but that means that it's impossible to predict the prices up to a sufficient precision, and what exactly the reasons are that made them so.
Which is why every attempt to design an economic system that relies on their prediction has failed.
There are many heuristic processes occurring that are vastly distributed.
What determines a good price in one industry might be completely different from the pricing mechanisms in another.
And you are right to point out that there is some lag inherent in the system.