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The Water Cooler
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Oklahoma Budget Crisis
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<blockquote data-quote="Pokinfun" data-source="post: 2880345" data-attributes="member: 28113"><p>You are talking about 1.5 percent of American workers. You are stating that raising minimum wage would increase cost-push inflation, which it will not. 1.5 percent is not enough of the market to cause any of the things you are discussing. You are discussing an "Economies of scale" model and attempting to apply it to the nations economy. Also, cost-push inflation deals with worker that produce market products, which are not minimum wage workers. By the way, it is a ripple and not a ladder effect. What it will cause is automation, which causes unemployment.</p><p>If you are discussing raising minimum wage by $.50 and we are below or around the equilibrium point in the supply and demand's labor curve, then it could beneficial the market and cause employment because of an increase in aggregate demand. However, if you are above the equilibrium point then it would cause unemployment.</p></blockquote><p></p>
[QUOTE="Pokinfun, post: 2880345, member: 28113"] You are talking about 1.5 percent of American workers. You are stating that raising minimum wage would increase cost-push inflation, which it will not. 1.5 percent is not enough of the market to cause any of the things you are discussing. You are discussing an "Economies of scale" model and attempting to apply it to the nations economy. Also, cost-push inflation deals with worker that produce market products, which are not minimum wage workers. By the way, it is a ripple and not a ladder effect. What it will cause is automation, which causes unemployment. If you are discussing raising minimum wage by $.50 and we are below or around the equilibrium point in the supply and demand's labor curve, then it could beneficial the market and cause employment because of an increase in aggregate demand. However, if you are above the equilibrium point then it would cause unemployment. [/QUOTE]
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