tag:blogger.com,1999:blog-7169279.post114489215357200151..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Living Wage vs. Minimum WageDr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-7169279.post-576524885676966622009-09-23T13:31:12.310-06:002009-09-23T13:31:12.310-06:00Labour is not adequately empowered to sell his lab...Labour is not adequately empowered to sell his labour. That is the crux.Unknownhttps://www.blogger.com/profile/03600583213914212759noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1153166637348365672006-07-17T14:03:00.000-06:002006-07-17T14:03:00.000-06:00Thanks for commentingThanks for commentingDr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1152932252970629662006-07-14T20:57:00.000-06:002006-07-14T20:57:00.000-06:00I think that minimum wage is a band-aid on a bulle...I think that minimum wage is a band-aid on a bullet wound. Minimum wage doesn't cause inflation, NOT RETIRING THE NATIONAL DEBT causes inflation. Increasing interest rates cause inflation.×aughtyhttps://www.blogger.com/profile/03896589983407833637noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1150480130894948182006-06-16T11:48:00.000-06:002006-06-16T11:48:00.000-06:00Thanks for commenting.I worked for minimum wage up...Thanks for commenting.<BR/><BR/>I worked for minimum wage up until I was 20, and minimum wage plus tips until I was 24. <BR/><BR/>A way to tell whether that was reasonable or not is whether or not you got fired a lot. The reason is that if an employer feels that you are getting paid something you don't deserve, then they will be more inclined to fire you at a whim.<BR/><BR/>I got fired a lot up Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1149803862215116372006-06-08T15:57:00.000-06:002006-06-08T15:57:00.000-06:00I have worked on minimum wage for an entire semest...I have worked on minimum wage for an entire semester while at school. As much as I was glad to be earning at least minimum wage at that point in time, I have to admit that this goes entirely against the basic concept of economics. If businesses are allowed to fix wages for each level, laws of demand and supply will eventually prevail to reach an equilibrium. I particularly agree with Dr Tufte's Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1146771076740886362006-05-04T13:31:00.000-06:002006-05-04T13:31:00.000-06:00Billy ... you said the right things but you missed...Billy ... you said the right things but you missed the connection to class.<BR/><BR/>A minimum or living wage is a price floor, and a price floor isn't "creating a social tax" - it is a tax. Specifically, a price floor transfers surplus from demanders to suppliers. Only the mechanics differ from a tax, but it is possible to prove that every price floor can be duplicated by a tax on buyers. <BR/><Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1144896344167265782006-04-12T20:45:00.000-06:002006-04-12T20:45:00.000-06:00Nowhere in America can you rent a 1 bedroom apartm...Nowhere in America can you rent a 1 bedroom apartment and live on minimum wage. "Market values for everything" do you actually freakin believe that executive pay has anything to do with markets? Good luck explaining that one.Anonymousnoreply@blogger.com