Milton Friedman on Minimum Wage
“Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That’s not a statement, it’s a definition.”
Tag: minimum wage
On jobs
These tweets are simply ignorant. People don’t take the time to even think one step ahead these days. If jobs exist that don’t pay a…
Can minimum wage workers afford a two-bedroom apartment?
As it turns out, yes they actually can, in every state. If you look at whether there is a 2 bedroom apartment within the price…
The Lefts Voodoo Economics on the Minimum Wage.
Rep. Ilhan Omar and many other left-leaning think tanks and operatives are repeating the talking point that 27 million workers would receive a wage raise…
Why is AOC touting Marx’s defunct Labor Theory of Value?
Alexandria Ocasio-Cortez recently said “No one ever makes a billion dollars. You take a billion dollars.” When asked to elaborate she explained that billionaires do…
No, productivity is not divergent from income.
You may have seen the below chart arguing that worker productivity has increased, but their compensation has not kept up. However, after looking closer into…
ObjectoBot Original: How minimum wage works
How minimum wage works, updated for inflation lol. This was the original.
Amazon raising starting salary to 15$ per hour only helps those whose productivity justifies that wage.
Amazon just committed to raising the starting salary for all employees to 15$ per hour. What is the economic impact of that decision? The answer…
People are fighting for 15$ minimum wage like they are some sort of hero. In reality, they are hurting exactly the people that need help the most.
Those who are making minimum wage and are advocating for an increase, I can forgive. If they were knowledgeable about economics they probably wouldn’t be…
Walmart Vs Costco
With minimum wage in the news, Costco got a lot of attention for paying their employees $17 per hour, while Walmart only pays about $9…
Pundit Krugman is wrong on minimum wage, while economist Krugman is right?
How you may ask, can Objectobot, practically a nobody, criticize and ridicule a decorated economist like Krugman in his own field. Krugman is a recognized expert in economics, why should you…