**** Elections thread *****

[JKDS]

You say that, but its just speculation isn't it? Seattle experienced price hikes in just reastaurants...but so did restaurants outside of the city.

The problem is that you got proof issues. The reason this is even arguable and that the reverse is unpersuassive isn't because America is dumb
It's because the support is laking. Even if the theory says it's bad, that's meaningless without firm support

[wufwugy]

You say that, but its just speculation isn't it? Seattle experienced price hikes in just reastaurants...but so did restaurants outside of the city.

The problem is that you got proof issues. The reason this is even arguable and that the reverse is unpersuassive isn't because America is dumb
It's because the support is laking. Even if the theory says it's bad, that's meaningless without firm support

It's not speculation. The theory is beyond solid. It's theory of evolution level solid. It's made solid by the arithmetic alone, not to mention additional elements.

The studies on it have been laughably bad, which is why they have resulted in no conclusion. Designing a quality study of minimum wage would be unbearably hard. But it doesn't matter since the theory is directly emergent from the math of the laws of supply and demand, which has been demonstrated correct countless times.


FYI even the Seattle thing isn't a test. There are sooooooooooooooooo many confounding factors. Just once I wish a city would put minimum wage to the actual test. They could do it by declaring a $50 minimum wage for all businesses immediately. That would be enough to mitigate the confounding factors. And then we'd watch real-time as econometrics show their snarling teeth.

[JKDS]

It's not speculation. The theory is beyond solid. It's theory of evolution level solid. It's made solid by the arithmetic alone, not to mention additional elements.

The studies on it have been laughably bad, which is why they have resulted in no conclusion. Designing a quality study of minimum wage would be unbearably hard. But it doesn't matter since the theory is directly emergent from the math of the laws of supply and demand, which has been demonstrated correct countless times.


FYI even the Seattle thing isn't a test. There are sooooooooooooooooo many confounding factors. Just once I wish a city would put minimum wage to the actual test. They could do it by declaring a $50 minimum wage for all businesses immediately. That would be enough to mitigate the confounding factors. And then we'd watch real-time as econometrics show their snarling teeth.

But there is no data supporting it, isn't that right? Evolution theory had the data, it's no where near the same. You can kill 100 cockroaches and literally watch evolution in action.

All you got is what economists think will happen. But there isndisagreement, and there is enough disagreement that states are willing to risk their prosperity to test it.

A question I have for you though is this. If the factors behind what's happening in Seattle and so many other cities are complex and difficult to fully grasp...how is the anti min wage theory so perfectly accounting for them all? As a chemist and mathematician, I've used equations with multiple inputs before. It's very difficult to track what happens and figure it all out. But I also know that real life has a way of fucking with out theoretical assumptions.

[wufwugy]

But there is no data supporting it, isn't that right? Evolution theory had the data, it's no where near the same. You can kill 100 cockroaches and literally watch evolution in action.

All you got is what economists think will happen. But there isndisagreement, and there is enough disagreement that states are willing to risk their prosperity to test it.

A question I have for you though is this. If the factors behind what's happening in Seattle and so many other cities are complex and difficult to fully grasp...how is the anti min wage theory so perfectly accounting for them all? As a chemist and mathematician, I've used equations with multiple inputs before. It's very difficult to track what happens and figure it all out. But I also know that real life has a way of fucking with out theoretical assumptions.

There's too much data supporting it to count it all. The issue is that there isn't data we can point to and say "this is exactly what will happen if a city institutes a minimum wage law". What we do know is the types of things that can be expected from minimum wage laws, and they're based on all the data and theory regarding supply and demand that we have.

Keep in mind that there are no economic theories for how minimum wage can increase income. When price controls are implemented in supply and demand models, there is dead weight loss.