Re: Political Parties are NOT Sports teams
Posted by:
Yglesias
()
Date: February 01, 2015 01:24PM
bastiat Wrote:
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> Politics is doing what is contrary to good sense
> because it will give you some advantage. Example:
> voting for a bad policy like the minimum wage -
> does anyone still fail to realize that it creates
> unemployment and hurts minorities?
You're still stuck in the ignorant and under-developed mid-19th century, Bastiat, you blithering idiot. Your stupid broken window was repaired a long, long time ago, so put a sock in it. And since we now have sufficient computing power to monitor the situation of every instance of differing minimum wages across neighboring county lines, we now know that increases in the minimum wage of a magnitude comparable to historical examples of it produce no detectable changes in either unemployment or inflation. Both the numbers of affected workers and the degree of the increase are too small for them to combine to create a measurable macro level effect. What does of course get affected is the purchasing power of the workers who receive an increase. For them, it's a big deal. For everybody else, it's a non-event.