[mbrodersen]

I recommend reading up on the work done by the latest Nobel price winners in Economics. But fair warning: they disagree with your assumptions/conclusions and have found clever ways to verify their assertions using real world data.

[todd8]

Interesting, but I see it differently.

I believe you might be referring to 2021 Nobel Prize winner David Card’s paper A Re-analysis of the Effect of New Jersey Minimum Wage with Representative Payroll Data (with Alan Krueger) written over 20 years ago. See [1]. This paper compared New Jersey with neighboring Pennsylvania that didn’t raise its minimum wage.

Ironically, Joshua Angrist (and a third Economist) shared the 2021 prize with Card, and Angrist had this to say about the research by Card (and Krueger):

“[the] data show a slight decline in the employment from February to November 1992 in Pennsylvania, and little change in New Jersey over the same time period. However, the data also reveals substantial year to year employment variations in other periods. These swings often seem to differ substantially in the two states… So Pennsylvania may not provide a very good measure of counterfactual employment rates in New Jersey in the absence of a minimum wage change.” See [2].

[1] https://davidcard.berkeley.edu/papers/reanal-ff-nj.pdf

[2] Joshua Angrist and Jörn-Steffen Pischke, Mostly Harmless Econometrics, page 293, https://press.princeton.edu/books/paperback/9780691120355/mo...

[mbrodersen]

Yep that’s the problem with Economics. It isn’t a science like physics. And it is easy to find Economists that disagree with each other. The New Jersey experiment needs to be repeated many times in different settings before we can be more confident in its truth value. The same way it is done in sciences. However it is also true that some people will never accept it as being true no matter the evidence. People are a lot less rational than they think they are.

[m4nu3l]

I can believe it to be true but so far no evidence has convinced me of that.

> However it is also true that some people will never accept it as being true.

I suspect it is because of the philosophical point I made, but maybe some people are not able to articulate it? E.g. I could accept my practical point to be invalid but that would not invalidate the second point - I just give freedom of choice value in itself. Hence I can tolerate costs that arise because of that.

[mbrodersen]

Freedom of choice is an interesting thing to think about. Most people will agree that freedom of choice is a good thing. However the devil is in the details. How about giving people the freedom of choice to own nuclear weapons? Most people would probably disagree with that one. How about having the freedom to own slaves? Again people would probably disagree. But why? Isn’t freedom of choice always good? How about free education and free healthcare? I personally think that it gives people more freedom to choose the kind of life they want. But I have heard “pro freedom” people argue against it because they think it will make people lazy. I myself received a MSc in Computer Science from a top university and it cost me nothing. It didn’t make me or anybody else I knew at University lazy. So I don’t think it is true. However some “pro freedom” people still want to take that freedom away from other people. And the same goes for minimum wage. I have lived in a number of countries with a high minimum wage. And the economies were strong and people worked hard. So a lot of the claims about minimum wage sounds false to me. So perhaps it all comes down to personal experience. If you have seen or been part of something that works well then you obviously know that it works well. And people who haven’t will disagree.

[m4nu3l]

I got my MSc in Computer Engineering in a country where university is highly subsidized, so it cost me very little. Now I live, work and pay taxes in another country. People that paid for my education are getting nothing in return.

About freedom of choice, for me the line is whenever your freedom directly impacts the freedom of someone else. You can't have slaves for this reason. But for the same reason you shouldn't have others pay for your education. Of course you have more choices if someone pays for your education. But that's not the point. Society has no say on what type of education you choose to have, so it should pay no cost. As I mention in another comment I only believe negative rights should be a thing - and I think I have strong reasons to believe this.

Nukes are only good for war, hence you probably shouldn't have them. On the other hand private companies or individuals with the right clearance should be able to own and manage nuclear power plants - as they do.

[mbrodersen]

So what about public roads, the police, the military, and the system of laws? You grew up taking advantage of those without having paid for them. So following your logic you should not have been allowed to use a public road or go to a public park without paying for it. And moving to another country, again following your logic, you have no right to walk on public roads you haven’t paid for, or take advantage of the military protection that the country provides. I hope you can see that following that way of thinking is very impractical? And according to your logic all of us are lazy freeloaders?

[mbrodersen]

> Nukes are only good for war, hence you probably shouldn't have them.

Hold on. I thought you said that freedom was the ability to do whatever you want as long as it doesn't hurt anybody else. Now you added rule #2: You only have the freedom pick from things somebody else (the government?) have decided that you can pick from. That sounds exactly like the system we have in most countries. So if the government decides to make education and health freely available then you should be happy with that right? It follows your rules perfectly.

[mbrodersen]

> People that paid for my education are getting nothing in return.

So are you happy with that or are you going to pay back the government for your education? If your answer is no would it be fair to say that you want others to not get anything for free but you are perfectly happy to get free things yourself?

[mbrodersen]

Yep I think it shows the limitations of evidence in complex subjects like Economics. If somebody doesn’t want something to be true, they will simply demand more evidence, claim that the evidence has flaws, claim that the researchers are not rigorous enough and/or somehow corrupt etc. The tobacco industry wrote the book on how to do that.