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#52
07-27-2006, 10:19 PM
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Re: City of Chicago Mandates a Living Wage for workers.
I'm too lazy to read 5 previous pages of posts, but I leave this to you minimum wage doomsayers:
Madison, WI has a $7.50/hr city-wide minimum wage; however, in 2005 Forbes listed Madison, WI as having the lowest unemployment at 2.5% in the country. 
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#54
07-27-2006, 10:26 PM
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Re: City of Chicago Mandates a Living Wage for workers.
[ QUOTE ]
Story Here I completely disagree with the implementation of this to only Big Box Stores like Walmart of course. But it will be interesting to see if the implementation of this in a big city like Chicago will actually cause all these stores to leave, as all the minimum wage doomsayers were predicting on this board a few months ago, or whether, as I predicted, most stores will simply stay and raise prices a little. (It doesn't seem like having a living wage had the dire predicted consequences in Santa Fe, Albuquerque, San Francisco, and Washington). [/ QUOTE ] IMHO: A more likely, but hidden, result will be less new stores opened which will siphon off money to the Chicago area and away from someplace else. Unless Walmart has found a way to generate unlimited profits, whatever extra they have to pay to operate in Chicago and like minded cities, they must take from somewhere else...either directly (by closing a different store) or indirectly (by not opening a new one). There is only so much real money to go around. Even if they shoot themselves in the foot and raise prices to cover the extra wages, that will hurt other poor people since I doubt if much of their customer base comes from the wealthy folks. This is just another way to redistribute the wealth from one poor person to another, so some politicians can look good. Many people where I live would stand in line to get jobs that pay much less than $10.00 an hour. Have a nice day! [img]/images/graemlins/smile.gif[/img]
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#55
07-27-2006, 10:33 PM
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Re: City of Chicago Mandates a Living Wage for workers.
[ QUOTE ]
Wait for it.... Correlation does not imply causation! [/ QUOTE ] No, but this, and the 1950's, shows that high minimum wage does not equate to unemployment. Yes, I'm aware of price floors and the theory behind it. But real life has shown otherwise...
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#56
07-27-2006, 10:55 PM
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Re: City of Chicago Mandates a Living Wage for workers.
[ QUOTE ]
[ QUOTE ] Wait for it.... Correlation does not imply causation! [/ QUOTE ] No, but this, and the 1950's, shows that high minimum wage does not equate to unemployment. Yes, I'm aware of price floors and the theory behind it. But real life has shown otherwise... [/ QUOTE ] And listening to Led Zepplin helps you flop quads. It happened to me today!
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#57
07-27-2006, 11:04 PM
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Re: City of Chicago Mandates a Living Wage for workers.
[ QUOTE ]
It's too bad we can't get the federal government to solve this problem, hence avoiding the city vs. city race to the lowest common denominator that tends to occur to some degree. [/ QUOTE ] FYI House to vote on minimum wage increase
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#58
07-27-2006, 11:24 PM
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Re: City of Chicago Mandates a Living Wage for workers.
[ QUOTE ]
Please explain. I am interested in how this increases my bargaining relative to the capitalist? How much do you think it increases it? How much does it relate to what it is costing me to fund it? [/ QUOTE ] Lower the extreme desperation factor amongst the unemployed and you limit the supply of labor, which raises the price.
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#60
07-27-2006, 11:42 PM
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Re: City of Chicago Mandates a Living Wage for workers.
[ QUOTE ]
What about the great depression. There were all sorts of min wage/wage subsidy laws, and massive unemployment. [/ QUOTE ] First US minimum wage: 1933. Great Depression: began in 1929. Where's your point?
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