Re:Amazon raises minimum wage to $15 for all US employees
by exolymph on Tuesday October 02, 2018 @11:45AM
(#18122718)
> Mainstream economists and political theorists believe that raising minimum wage reduces wealth inequality which creates economic and political stability
There is nowhere near the level of consensus on this issue that you're implying.
Re:Amazon raises minimum wage to $15 for all US employees
by mbesto on Tuesday October 02, 2018 @12:54PM
(#18123428)
> reduces wealth inequality which creates economic and political stability
> which reduces the risk of things like crime, Great Depression, and violent revolution.
Which has nothing to do with the point I made...
> (1) that's easy enough to detect and correct, (2) it's not a big deal if all the numbers go up together
Inflation is easy to detect and correct? Japan would like to have a word with you: https://en.wikipedia.org/wiki/Lost_Decade_(Japan)
Re:Amazon raises minimum wage to $15 for all US employees
by olalonde on Tuesday October 02, 2018 @11:46AM
(#18122726)
That's incorrect. Mainstream economists are quite divided on whether minimum wage laws help the poor, let alone the other things you mentioned. See the Wikipedia article: https://en.wikipedia.org/wiki/Minimum_wage
Even if minimum wage growth hits its practical max and creates inflation, (1) that's easy enough to detect and correct, (2) it's not a big deal if all the numbers go up together; the main loss is in reprinted menus.