Message from @Techigami
Discord ID: 543854084038590475
**"He left them out because they weren’t among the list of groups doing poorly, that was the whole point of the tweet. Saying “but this group is doing ok!” Doesn’t negate the fact that others aren’t"**
@wahx yeah nice goalpost move, but thats not true. If he were serious he would have compared them all to Asian men and the white man to the Asian man. But his whole tweet is retarded as the gender pay gap is not real.
**"Austrian economic garbage"**
The best economic school of thought out there and is yet to be debunked despite many tries in the last century
**"Raising the minimum wage probably does cause less work time and inflation in the short term. But as long as the employer is running a profit and the demand for labor is reasonably elastic, the increased wages transmitted to workers will outweigh that loss for other workers, for a net gain overall on the labor side."**
In the short term of course and as inflation happens in the long term, another minimum wage will be demanded which will have the same effects. However even in the long term, the minimum wage's effects will still be in place, without it more jobs and lower prices could have been taken up.
**"as long as the employer is running a profit and the demand for labor is reasonably elastic,"**
You're assuming that they will, for the most part the minimum wage may have an extreme negative effect on their profits. Demand for labour being elastic makes the minimum wages effects on jobs worse.
The increased wages transmitted to workers, you're assuming because of job cuts the workers who have wages now will get a rise out of the new minimum wage, which is probably not the case. However there is an extreme loss of jobs that I doubt will outweigh people actually losing jobs. I rather have people employed with lower wages than people unemployed with the employed having higher wages.
@Leo (BillNyeLand) **"This has the added benefit of, through those laws of economics you cited, enticing more lazy freeloaders back to work, since they can get more money."**
Not really because there is a shortage of demand and an excess supply, so you hurt those very freeloaders.
**"Lastly, with the increased spending power possessed by consumers, demand increases, allowing businesses to gain back some of their losses from the higher minimum wage"**
You're assuming the people with the wages increasing will go towards them buying from the same business, which is not always the case and the fact that the higher prices will be deterring for the individuals to buy from. However once again you have much more unemployed which means less money for the firm. You also don't realise spending power an purchasing power is much different, in reality this minimum wage will decrease the purchasing power, not to mention the businesses that have shut down.
**""This has the added benefit of, through those laws of economics you cited, enticing more lazy freeloaders back to work, since they can get more money."**
Those who are unemployed elsewhere and who are relatively more skilled will displace workers of lesser skill, with the ultimate result of still more unemployment among the least-skilled members of society.
The unemployment directly and indirectly caused by raising the minimum wage will require additional government welfare spending and thus higher taxes and/or greater budget deficits to finance it. The rise in prices and taxes that results from raising the minimum wage both diminishes the gains of the monopolists and serves to create new and additional poor people, while worsening the poverty of those who become unemployed.
**"The end result is an initial increase in the demand for jobs and a decrease in the supply of jobs, which is later offset by an increase in revenue that leads to an increase in demand for labor by businesses."**
How? A minimum wage just decreases demand and increased supply.
@wahx Firstly the minimum wage going up will always increase inflation as prices are risen, most of the time this does not stay with the inflation rate. The more people try to keep it with the inflation rate, the higher the inflation goes. As Visitor said it's an inflationary spiral. For example the minimum wage which should be with inflation is $22 per hour.
The higher the minimum wage is raised, the worse are the effects on poor people. This is because, on the one hand, the resulting overall unemployment is greater, while, on the other hand, the protection a lower wage provides against competition from higher-paid workers is more and more eroded. At today’s minimum wage of $7.25 per hour, workers earning that wage are secure against the competition of workers able to earn $8, $9, or $10 per hour. If the minimum wage is increased to $10.10 per hour, and the jobs that presently pay $7.25 had to pay $10.10, then workers who previously would not have considered those jobs because of their ability to earn $8, $9, or $10 per hour will now consider them; many of them will have to consider them, because they will be unemployed. The effect is to expose the workers whose skills do not exceed a level corresponding to $7.25 per hour to the competition of better educated, more-skilled workers presently able to earn wage rates ranging from just above $7.25 to just below $10.10 per hour. The further effect could be that there will simply no longer be room in the economic system for the employment of minimally educated, low-skilled people.
We saw this in recession times( for example the great depression) and a good example is in Puerto Rico where the result of the minimum wage was massive business bankruptcy and high unemployment.
But there are additional, hidden costs of these min wages, which are more difficult to detect but perhaps more insidious. For example, one effect of a minimum wage is to reduce the availability of on-the-job training, since more resources are required simply to hire and retain a workforce. And further interventions in the labor market make it still more costly to employ labor. These burdens together reduce a firm's willingness to hire labourers and ,in the long run. must reduce the number of opportunities for those labourers to acquire valuable job skills. Far from increasing opportunities for the working poor, a minimum wage actually restricts their mobility.
Firms faced with minimum wage laws often substitute skilled for unskilled labor. **"A report from the Show-Me Institute offers an illustrative example: Suppose that a job can be done by either three unskilled workers or two skilled workers. If the unskilled wage is $5 per hour and the skilled wage is $8 per hour, the firm will use unskilled labor and produce the output at a cost of $15. However, if we impose a minimum wage of $6 per hour, the firm will instead use two skilled workers and produce for $16 as opposed to the $18 cost of using unskilled workers. In the "official data" this shows up as a small job loss — in this case, only one job — but we see an increase in average wages to eight dollars per hour in spite of the fact that the least skilled workers are now unemployed."**
Instead of raising the minimum wage, people should abolish it and let deflation happen. Which means much higher purchasing power for everyone, let the market determine the wages.If it wasn't for this dumb socialist intervention, we would have low prices and high purchasing power for everyone. The standard of living is not raised by arbitrary laws and decrees imposing higher wage rates, but by the rise in the productivity of labor, which increases the supply of goods relative to the supply of labor and thus reduces prices relative to wage rates, and thereby allows prices to rise by less than wages when the quantity of money and volume of spending in the economic system increase. And if the quantity of money was not increasing, a gold standard was in place the standard of living as I said earlier would skyrocket. And you may say a gold standard will increase the demand for new money which would be a problem however, any given supply of money is optimal in a free market since its relative value (purchasing power) reflects any supply issues. Money is not goods or services, bread.Money is only a medium of exchange, spending new money detracts from the production of real wealth, goods and services. There can never be a shortage of money.
wahx you can keep saying debunk-able things and not responding to my responses on privatised roads, the fact that the government did not create the internet and that the economy can/does exist and do well without a federal government.
We see multiple internet systems before '69 when the government classified, SAGE as you noted was made/developed by IBM who was contracted by the USAF.
There were other multiple research projects in the 50s by private UNIs, funding and private companies on the internet. If the government did not intervene, the internet would have probably came a decade or more earlier and more advance.
oh scary brown people
***Brown people bad***
***Brown people bad***
***Brown people bad***
***Brown people bad***
Europe is so cucked
Europe has a lot of beautiful places tho
its really sad what they are doing
yep
I saw what some of those savages do in their own countries
That's what no vetting gets yoyu
Skinning a live cat on a pole to boiling a dog alive.
Burning each other alive in circle jerks
European governments: Come in guys, we're not like the US we're very welcoming
Trump: Don't do it boi's i'm warning you.
European governments: what's the worse that could happen? they're just innocent little refug...
cities literally on fire
European governments: shit
They tie people up and beat the living crap outta them with a pipe and stab them multiple times.
Lol so true
More like people getting kidnapped and/or raped then having your head sawed off for the world to see
I also saw that jihad propaganda video where they had a bunch of Christians and just popped their heads from behind with rifles and another bunch having their heads sawed off with serrated Bowie knives. Their heads were places atop their corpse like a trophy. Fuck IZLAME.
This was on a beach if you know what im talking about
Those subhumans are truly savages. That doesn't make me racist because im targeting their culture. It's savage and metal af.
Also a video where some 10-12 year olds were punching around and cig burning a 5 year old in this closed room. The little kid was caught in wire and they just brutally bullied him.
And another of a mother grabbing her baby and just flailing it like a rag doll by the limbs like a dog and his favorite chew toy.
Anyone who thinks and panders to the idea of diversity need to go live in those countries and see how they think about diversity. NOPE, beyond the touristy parts you might not make it out alive.
Thoughts on gender pay gap - coming from a feminist btw
@everyone
'Bout sums up what I think
Doesn’t exist @bananafingers55