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by odysseus
2239 days ago
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On living wages in particular: "A 2003 Cato Institute study cites data showing job losses in places where living wage laws have been imposed. This should not be the least bit surprising. Making anything more expensive almost invariably leads to fewer purchases. That includes labor." Also: "People in minimum wage jobs do not stay at the minimum wage permanently. Their pay increases as they accumulate experience and develop skills. It increases an average of 30 percent in just their first year of employment, according to the Cato Institute study." Both of these are quotes from noted economist Thomas Sowell, who has done a lot of research into many studies on actual effects of living and minimum wage law. As for the people you describe, there are plenty of people who make higher wages and are just as unreliable and untrustworthy. And there are plenty who do honest work for low wages, and work their way up. |
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Being a noted economist doesn't mean that you aren't full of shit.