[quote=US Senator][quote=EconProf]We economists are largely in agreement about raising the minimum wage: it will kill jobs.
The recently proposed mild increase in the federal minimum wage would cost about a half-million jobs, according to federal officials.
But the huge jump to $13.09 for San Diego only would have a far more powerful impact on employment within our city limits.[/quote]
We US Senators employ many economists. My favorite 3 or 4 are all in favor of raising the minimum wage. One crazy bastard wants to peg it at $15 in a podunk place like Altoona PA and adjust it by COLA across the board.
The economist who carries my bag from the parking lot says that Krueger convinced him of the inadequacy of the simple supply-and-demand model when applied to the labor market for low-wage workers. I said “hurry up, Jimmy, we’re gonna miss the elevator.” Good times.[/quote]
Give workers the same power and voice that corporate America has and let’s see how that “free market” supply and demand affects labor prices, shall we?
