Friday, June 30, 2017

Economic Analysis of Minneapolis' $15 Minimum Wage

Minneapolis passed a $15/hr minimum wage.  I'd go into economic, mathematical, statistical, and empirical detail.  But this is much more efficient:


8 comments:

Anonymous said...

Limousine liberals only want the economic margins expelled from their nice blue city. Local minimum wages are blatantly meant for segregation, but this is more effective than open Jim Crow just because it's wrapped up in virtue signaling.

A few good people who make 13-14 an hour will make it. But the point is that those worth substantially less will have to move elsewhere.

Anonymous said...

Lol. You think $15 an hour minimum wage is bad in Seattle? Wait until they try it out in a city that doesn't have Amazon and Microsoft employees all over the place to prop up those companies.

Cash Gorman said...

The problem isn't the minimum wage, it's the lack of full time jobs and those that pay a living wage. Here in Canada we have a province wide job board where jobs from all the other commercial job finding services are listed, so it's easy to see what's available. The vast majority of those listed are for less than 30 hours a week, have no real guarantee of hours and pay at most a couple of bucks over the minimum wage. A big percentage of these jobs pay the minimum and expect the maximum in terms of availability and job description.

Another problem is the educational bar, EG. a job I used to have that only required a two year College certification now requires a Masters degree just to get you an interview, even though the job description is the same. It's easy to say "Hey, just get a better paying job", but seriously there are not enough of them for all the people looking for one.

Doug Cranmer said...

Ha. I'll bet you're the uncle your siblings warn their children about.

But you're the favorite uncle. :)

Moses R said...

Captain, I sent you an asshole consulting email request 2x now and never heard from you - is it still the yahooo email?

Moses R said...

Hey Capt I sent you an asshole consulting video request but never heard back from you, you still using the yahoo account

heresolong said...

Cash,

Cappy got a better paying job. There wasn't one being offered, so he created it.

I have two jobs, one that I created and one where I work for someone else. The one I created pays better but I don't want to do it full time so I do both for now.

In both cases we had to work our tails off for low wages and live on the edge for a while, but in both cases we have done well for ourselves.

Minimum wage is not about having a better paying job, it's about forcing someone to pay you more than you are worth while simultaneously training you. It is a government welfare and training program paid for by the consumer and business owners instead of higher taxes. Most people earning minimum wage are not worth what they are being paid. That's why they have that job. What higher minimum wage laws do is reduce the number of jobs available, making it harder to get job training that will allow you to move up the ladder.

Did you know that most people working at fast food restaurants, the demographic most talked about when it comes to minimum wage, are making more than minimum anyway? The higher minimum wage reduces the pool of money available to pay good workers more, so kiss raises goodbye along with those entry level jobs. Hello robots.

David Reynolds said...

I find it rather funny that these blue cities want to jack up the minimum wage in the wake of traditional retail scaling back in the face of online competition.