Sponsored Content
« In Wake of Panama Papers Scandal, It's Revealed that John Kerry and Teresa Heinz Have Millions "Invested" in Overseas Tax Shelters, Because of Course They Do | Main | Desperate Blogger Posts Story He Doesn't Think You Care About Because He Can't Find Anything Else: the Megyn/Trump Interview »
April 26, 2016

The Minimum Wage: How To Prove It Is Bad For Our Economy (CBD)

Don Beaudroux over at Cafe Hayek suggests an interesting minimum wage experiment. I am not sure that he has designed it perfectly, and some of the commenters suggest modifications, but the premise is interesting, if completely unworkable in today's childish political environment.

Readers urge me: "Why not regard minimum wages as social experiments? If they succeed, great. If not, they can be undone." The more intelligent of these readers understand that real-world minimum-wage legislation is instituted for political and not objectively scientific reasons. But these readers hold out hope that the political zebras who alone can inflict minimum wages on workers will lose their stripes and begin to be more "scientific" about enacting minimum wages.

It's an interesting thought experiment, and it also exposes the lack of intellectual rigor on the Left. Or more precisely, the conscious rejection of empiricism in the form of clear economic axioms. It is the minimum wage more than any other progressive shibboleth that convinces me that they are uninterested in reform, and very interested in power. That their power comes at the expense of real people is unimportant to them.

Here is a 10+ year old blog post from Coyote Blog describing his own experience with the minimum wage, but this time from the other end of the age spectrum. We mostly see the minimum wage as a hindrance to hiring teenagers and people entering the work force for the first time (i.e. no experience), but he hires retired folks with lots of life experience. The numbers are dated, but the points he makes are valid, since Obama has been unable to repeal the law of supply and demand.

Addendum Because apparently nobody is reading the linked article....

Here's a scientific experiment that I propose: abolish the minimum wage completely and for a long stretch of time and then see what happens over time.

And there's more!

If minimum-wage opponents (such as me) are correct, we'll see over time that elimination of the minimum wage increases the employment of low-skilled workers, as well as eliminates or greatly reduces the differences between the unemployment rates of black and Hispanic low-skilled workers and the unemployment rates of white low-skilled workers. We'll see a slight reduction in the incomes of middle-class households and increases in the incomes of lower-income households. We'll see also fewer people in their 20s and 30s who have never gained on-the-job experience and skills.

Of course, if minimum-wage opponents (such as me) are incorrect, then we'll not see these consequences. A much-more-solid scientific basis than what we have today will thereby be created upon which to found the case for minimum wages.

digg this
posted by Open Blogger at 01:48 PM

| Access Comments

Recent Comments
Aetius451AD Work Laptop: "Pixy is up. ..."

Skip: "G'Day everyone Biden 's Dog if I knew you wo ..."

Biden's Dog sniffs a whole lotta malarkey,: "BOING! ..."

JmT: "Skip, stop looking at Bad Blue and American Conser ..."

Skip: "Probably up, and no need to be ..."

Puddleglum at work: "https://youtu.be/GNmppnfgBB0 A Flock of Seagull ..."

Puddleglum at work: "[i]I was pretty stunned recently to learn that my ..."

JQ: "Not the Hammond B3. ARP 2600 FTW! youtu.be/65XS ..."

ShainS -- The Abolition of The West is from Men Without Chests [/b][/i][/s][/u]: " Ian Anderson (Jethro Tull) playing Faure's "Pavan ..."

Aetius451AD Work Laptop: "Night Bulgar. ..."

JT: " Yeet Posted by: nurse ratched Yoot ..."

Bulgaroctonus : "Goodnight, All. ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64