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Democrats to Propose Increasing Unemployment at Convention?

drfredc Wrote: Sep 03, 2012 6:23 PM

The MW ought to be tied to a zip codes base wage (for example $7 @ 5% unemployment), plus or minus 10 cent per tenth of unemployment. This would reduce or eliminate numskull tinkering with the MW as there would be a marketplace check and balance to the MW. If unemployment is low, the MW would go up because marketforces would support a higher MW. If unemployment is high, the MW would go down, making it easier to hire and train employees. Areas with high unemployment might attract employers looking for low cost new trainable employees, helping bring these areas out of their doldrums by their own boot straps.

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Kibitzer Wrote: Sep 03, 2012 6:55 PM

Or why not get rid of the MW altogether and let market forces work. Any business that operates on a business plan that relies on paying below market wages will most likely fail!

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Democrats to Propose Increasing Unemployment at Convention?

Rumor has it that Democrats will include, at their up-coming convention, a proposal to increase the minimum wage. As documented in a recent Cato study, such a policy is likely to increase unemployment, especially as I noted elsewhere among teenagers. One would think that given how a weak economy is undermining Democrats’ chance to keep the White House, they’d actually make proposals to reduce, rather than increase unemployment.

Perhaps the most bizarre, but honest,

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