ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax
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This seems like another attempt to try to change the meaning of words, like "vertically challenged" instead of short. The reason why people might be considered losers for working minimum wage is that it is the lowest legal wage. Raising the minimum wage guarantees that more people will be earning the lowest possible wage, thus creating more losers.
Why would someone make it their objective to make these people feel like losers?
people playing by the rules should not feel like total losers
The fact that someone is making only the minimum wage is a stigma in itself. Raising that floor will make more people hit that level. Thus, more people will be branded as "minimum-wage employees", and feel worse about themselves rather than better.
You will find many Indian-borns in this list (of economists who prefer to raise minimum wages).
I think most Indian economists come under the category of economic illitrates (I speak as an Indian). In Indian, economic thought is Maxist-dominated (You will not find Hayek in the library of best Indian universities).
The Indian economists get academic positions in US generally because they tend to be good at mathematical manipulations.
How about Dube's parenthetical? I would like to hear someone explain how reduced income inequality leads to broad effects of people having more time to spend with kids, for college etc. In fact it can be explained that the government's preferred method, taxation of income and redistribution leads to everyone being worse off, not better.
Being a college student, I believe raising the minimum wage is a good thing. When a young teenager is starting out- becoming independent, paying for their own things, driving, etc.- they should feel that their efforts of obtaining a job are worthwhile. However, I don't think being paid the minimum wage in our society should necessarily mark someone as a "loser". It doesn't. People who make the lowest, legal wage make themselves feel that way because they see others making six figures or something and envy that. They ask themselves, "Why can't I be like that? Why am I not making that much?". But, I don't think just by having a job that pays minimum wage marks a person a loser. A person should be proud of how much they're earning; no matter how low it may or may not be. I'm sure someone who is raising a family and has children to clothe and feed might feel differently. But, being a minimum wage employee is not a terrible thing. I have no problem with it, though I am quite happy that the amount has increased.