In response to:

A Minority View: Higher Minimum Wage

kbush Wrote: Feb 27, 2013 12:51 AM
This idiot is saying that if price of healthcare goes up 10%, the demand will go down. If price of gas doubles, the consumption is going to go down. He doesn't understand in economics, there are theories and they don't necessarily work in real life. What a sore loser.
Dean197 Wrote: Feb 28, 2013 9:23 AM
They work in real life and they've been measured in real life. You're using examples of items with low elasticity: people still need medical treatment and they still need to get to work, but even so, they will put off doctor's appointments and consolidate trips when prices go up. Labor is much more elastic...a new job that an employer values at 7.25 isn't going to be filled at 9.00...it's duties are going to be split up among the workers she already has, or it will be automated. Jobs are becoming automated into obsoletion fast enough as it is without providing more incentive for it.
t252 Wrote: Feb 27, 2013 10:53 PM
the only idiot I see is named kbush
3204 Wrote: Feb 27, 2013 11:07 AM
Flagged for obvious and annoyingly predictable stupidity.
evie10 Wrote: Feb 27, 2013 9:43 AM
kbush, you have shown your ignorance - fewer people were getting access to health care (supposedly) because the costs were too high, so the President created a bill call Obamacare which is supposed to make health care affordable to all...did you sleep through that?
mistermilo Wrote: Feb 27, 2013 9:09 AM
Are you serious?? Are you serious?? Are you really Nancy Pelosi?
Bill1895 Wrote: Feb 27, 2013 8:44 AM
Obama won the election and he is still a sore loser?
Michael in the P/R of ATL Wrote: Feb 27, 2013 7:25 AM
At first I was aghast at kbush's post, but then I remembered. Leftists are illiterate when it comes to economics and common sense. It'd be foolish of me to expect anything different.
Mr. Right Wrote: Feb 27, 2013 6:03 AM
The demand for healthcare keeps going up in spite of it being more expensive precisely because bills are paid through insurance - the end user never sees the real cost. If I go to a restaurant with high prices, I'll order frugally if I pay the bill. If you're paying, however, I'll eat a good deal more extravagantly because the high prices won't affect me.
Pistol Wrote: Feb 27, 2013 3:48 AM
Stay with it, kbush. Just watch what the unemployment rate does with respect to a higher MW.

You are about to be instructed as to the difference between a theory and natural law. Gravity and TINSTAAFL are natural laws. AGW is a theory.
Charlie135 Wrote: Feb 27, 2013 2:34 AM
Dr Williams? An idiot?

Bless your heart, you're not real bright, are you?
Rich D. Wrote: Feb 27, 2013 1:31 AM
When you write as many books, publish as many articles, and become head of a major department of a university, let us know.
Anonymous6062 Wrote: Feb 27, 2013 1:19 AM
It IS called the LAW of demand. In fact, it is just as sure thing as the LAW of gravity. Demand will fall in price increases. Demand rises as prices decrease. Some products and services fall more than others. This is called the elasticity of a product or service. It is a simple concept, really.
Anonymous6062 Wrote: Feb 27, 2013 1:19 AM
It IS called the LAW of demand. In fact, it is just as sure thing as the LAW of gravity. Demand will fall in price increases. Demand rises as prices decrease. Some products and services fall more than others. This is called the elasticity of a product or service. It is a simple concept, really.
Anonymous6062 Wrote: Feb 27, 2013 1:19 AM
It IS called the LAW of demand. In fact, it is just as sure thing as the LAW of gravity. Demand will fall in price increases. Demand rises as prices decrease. Some products and services fall more than others. This is called the elasticity of a product or service. It is a simple concept, really.
glenn183 Wrote: Feb 27, 2013 1:13 AM
Which idiot would that be? I assume it's not Dr. Williams. If the price of health care goes up somebody else picks up the tab and the user changes little behavior as he doesn't see it until sometime in the future when his insurance goes up and then complains loudly. Anything you pay for directly yourself you WILL shop for best prince unless you're ignorant.

Who DOESN'T reduce consumption of gas when the price doubles? You won't likely cut consumption in half because it's important to you but the traffic on the roads drops when price goes up. Look up elasticity of demand.

In his State of the Union address, President Barack Obama proposed raising the minimum wage from $7.25 an hour to $9 an hour. That would be almost a 25 percent increase. Let's look at the president's proposal, but before doing so, let's ask some other economic questions.

Are people responsive to changes in price? For example, if the price of cars rose by 25 percent, would people purchase as many cars? Supposing housing prices rose by 25 percent, what would happen to sales? Those are big-ticket items, but what about smaller-priced items? If a supermarket raised its prices by 25 percent,...