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Query
Quote:
Originally posted by Mmmm, Burger (C.J.)
I'll take that class if you agree to eliminate minimum wage laws that cause employers to be unable to pay the value offered by the employee.
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The empirical evidence that I've seen suggests that the sorts of effects predicted by classical economics -- and you're going to have to take that class to find out what they are -- are not actually borne out. If they were, I would be more inclined to support repeal of minimum wage laws.
Quote:
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Put differently, you're assuming that the jobs filled by many illegal immigrants would, absent that labor pool, be economically viable jobs from an employer perspective at the current minimum wage or market-clearing wage (if higher). I think neither is the case.
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Surely demand for such labor falls as the price rises. But it doesn't fall off a cliff.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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