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by JoeAltmaier 3523 days ago
Thanks for saying that! Its common for folks to play what I call 'dot to dot' where they draw a thin line from one action to some chain of results. They say "I proved its a bad idea!" Its like sketching in 3 or four lines in a dot-to-dot puzzle and saying "See! Its a dog!" when it might be the Sistine chapel.

Thinks are complicated. All the dot-to-dot statements are somewhat true, but they're all going on at the same time. Higher minimum wage means more spendable cash, which means more small businesses see an uptick in sales, so more profit. See! I can do it too.

1 comments

Uh huh. There are multiple lines to be drawn.

Deadweight losses are the inevitable leftovers of decreased efficiency after they have been drawn.

https://en.m.wikipedia.org/wiki/Deadweight_loss