In response to:

5 Liberal Policies That Backfire and Ruin Lives

Hoghead Wrote: Aug 06, 2013 7:24 AM
We should allow ONLY the District of Colombia to raise the minimum wage as a real beta test for a living wage. Let's have them raise it up to $17 to $20 per hour. That will make the libs and stupid people happy. Then within a year when all the small businesses are out of business for lack of customers they'll see what a high minimum can do for their living wage...
Ron781 Wrote: Aug 07, 2013 11:27 AM
galtsgulch Wrote: Aug 06, 2013 6:48 PM
Rothbard on minimum wage:

"In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period. The law says: it is illegal, and therefore criminal, for anyone to hire anyone else below the level of X dollars an hour. This means, plainly and simply, that a large number?of free and voluntary wage contracts are now outlawed and hence that there will be a large amount of unemployment. Remember that the minimum wage law provides no jobs; it only outlaws them; and outlawed jobs are the inevitable result.

All demand curves are falling, and the demand for hiring labor is no exception. Hence, laws that prohibit employment at any wage that is relevant to the market (a minimum wage of 10 cents an hour would have little or no impact) must result in outlawing employment and hence causing unemployment.

If the minimum wage is, in short, raised from $3.35 to $4.55 an hour, the consequence is to dis employ, permanently, those who would have been hired at rates in between these two rates. Since the demand curve for any sort of labor (as for any factor of production) is set by the perceived marginal productivity of that labor, this means that the people who will be disemployd and devastated by this prohibition will be precisely the “marginal” (lowest wage) workers, e.g. blacks and teenagers, the very workers whom the advocates of the minimum wage are claiming to foster and protect.

The advocates of the minimum wage and its periodic boosting reply that all this is scare talk and that minimum wage rates do not and never have caused any unemployment. The proper riposte is to raise them one better; all right, if the minimum wage is such a wonderful anti-poverty measure, and can have no unemployment-raising effects, why are you such pikers? Why you are helping the working poor by such piddling amounts? Why stop at $4.55 an hour? Why not $10 an hour? $100? $1,000?

It is obvious that the minimum wage advocates do not pursue their own logic, because if they push it to such heights, virtually the entire labor force will be dis employed In short, you can have as much unemployment as you want, simply by pushing the legally minimum wage high enough."

Nuff said
Joseph64 Wrote: Aug 06, 2013 9:30 AM
The State of Washington and the city of Seattle in particular have been conducting that very experiment for decades already and they have the nerve to wonder why they never have any money for anything.
Alex_P Wrote: Aug 06, 2013 11:34 AM
Same in New Jersey, and they now want to raise the minimum wage again.
Joseph64 Wrote: Aug 06, 2013 9:28 AM
The State of Washington and the city of Seattle in particular have been conducting that very experiment for decades already and they have the nerve to wonder why they never have any money for anything.
Captain-Jeff Wrote: Aug 06, 2013 7:58 AM
The already have an example, but choose to ignore it--Detroit. Instead of a minimum wage law, we had unions demanding pay rates that exceeded what their overseas and domestic competitors had to pay. Look at Detroit now.

Liberals simply don't understand economics or believe that they can change the basic laws of economics. Just because the liberals would like for water to run uphill or even write a law demanding it doesn't change the way the world works.
Scrap Iron in Texas Wrote: Aug 06, 2013 7:42 AM
Noce idea, but there are way too many rich people (spending OPM) in DC for this experiment to have validity.
A better test city would be one with many commoners... I mean tourists... lie maybe, for instance San Francisco.
Or New York City.
Or any liberal haven outside of the Beltway.