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posted by martyb on Sunday July 30 2017, @06:41AM   Printer-friendly
from the Lies,-Damned-Lies,-and-Statistics dept.

"In what has become a running joke amongst those skeptical of the claim that minimum wage increases have no effect on unemployment, a recent report by the Employment Policies Institute showed that 174 of the 184 co-sponsors of a bill to raise the federal minimum wage to $15 an hour hired unpaid interns."

"In a review of over 100 studies, economists David Neumark and William Wascher found that,A sizable majority of the studies surveyed ... give a relatively consistent (although not always statistically significant) indication of negative employment effects of minimum wages. In addition, among the papers we view as providing the most credible evidence, almost all point to negative employment effects, both for the United States as well as for many other countries." http://www.nber.org/papers/w12663.pdf

"Yes, minimum wages still do increase unemployment."

https://mises.org/blog/seattles-minimum-wage-supporters-ignore-facts


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  • (Score: 0) by Anonymous Coward on Monday July 31 2017, @01:30AM

    by Anonymous Coward on Monday July 31 2017, @01:30AM (#546917)

    I can't name a country where The collective ownership of the means of production was actually a thing.
    (When -you- own something, -you- get to decide what happens with that something.)

    I can't think of a nationwide instance that had a tight enough feedback loop to qualify.)
    The Soviet Union made it clear that they were doing State Capitalism even before Lenin died. [google.com]

    That said, there's The Alaska Permanent Fund (since 1976) and Hawaii is talking about a basic income scheme.
    Damned Pinkos.

    -- OriginalOwner_ [soylentnews.org]