tag:blogger.com,1999:blog-7169279.post4998146533459547414..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Inflation and the Minimum WageDr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7169279.post-69737358889677239342007-10-12T15:42:00.000-06:002007-10-12T15:42:00.000-06:00Essentially, Logan is correct about inflation. Thi...Essentially, Logan is correct about inflation. This is primarily a monetary phenomenon. Minimum wage changes are not common, nor do they affect enough workers (about 3%) to make much difference.<BR/><BR/>As to the minimum wage, Logan's analysis is also OK. <BR/><BR/>I would add, that another way of looking at it is that the government is indirectly requiring bosses to work minimum wage earners Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-72031570994108348442007-10-11T22:36:00.000-06:002007-10-11T22:36:00.000-06:00After talking about price floors and price ceiling...After talking about price floors and price ceilings, I don't understand why we need a minimum wage. What would happen if we didn't have one? If your employer did not have to pay your current wage, would they pay you less? I am guessing that most of us reading this blog don't make minimum wage and would not be adversely affected. However, would the price at McDonalds come down? Next, let me Dominichttps://www.blogger.com/profile/15990966110688068920noreply@blogger.com