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A comment on The Growing Underclass: Jobs Gone Forever. Parent comment

Re:The Growing Underclass: Jobs Gone Forever by jswinghammer on Friday January 29, 2010 @01:52PM (#1087199)
You can't sit through an econ 101 course in college where the effects of minimum wage aren't thoroughly discussed as being negative.

It's just a fantasy to suggest that it isn't harmful to marginalized workers like minorities.

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Re:The Growing Underclass: Jobs Gone Forever by prodigal_erik on Friday January 29, 2010 @02:40PM (#1087355)
Econ 101 gives a very easily understood prediction of huge, obvious disemployment effects which do not occur in reality. Something much more subtle, hard to measure, and not yet understood is happening instead.
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Re:The Growing Underclass: Jobs Gone Forever by mos1 on Friday January 29, 2010 @04:26PM (#1087598)
Your Econ 101 class must've been far more definitive than my Econ 600 classes.

Econ 100 -- Keeping all other variables the same, if the cost of wages goes up, demand for workers goes down.

Econ 600 -- When wages go up, the other variables do not remain the same, so a useful comparison must analyze the second-order effects to determine the change in aggregate demand for workers.

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