OT - United Healthcare Dropping Doctors

The Choker wrote:

NateS wrote:It is Economics 101 that whenever there is not a floor on minimum wages reasonably consistent with the minimum cost of food, shelter and clothing, businesses are enabled to engage in cut-throat bidding for the consumers' dollar by passing on the loss to the workers with no diminishment in profits to the businesses.
Nate

Ooooh, ooooh. You just made up some bullcrap.

ECON 101? You won't find that crap about "cutthroat bidding passing loses to workers" in any college textbook in use today

David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990-91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs.

A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country.

NateS wrote:

The Choker wrote:

NateS wrote:It is Economics 101 that whenever there is not a floor on minimum wages reasonably consistent with the minimum cost of food, shelter and clothing, businesses are enabled to engage in cut-throat bidding for the consumers' dollar by passing on the loss to the workers with no diminishment in profits to the businesses.
Nate

Ooooh, ooooh. You just made up some bullcrap.

ECON 101? You won't find that crap about "cutthroat bidding passing loses to workers" in any college textbook in use today

Myth and Measurement
by David Card & Alan B. Krueger

David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990-91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs.

A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country.

Sorry you missed it.

Nate

NateS wrote:

NateS wrote:

The Choker wrote:

NateS wrote:It is Economics 101 that whenever there is not a floor on minimum wages reasonably consistent with the minimum cost of food, shelter and clothing, businesses are enabled to engage in cut-throat bidding for the consumers' dollar by passing on the loss to the workers with no diminishment in profits to the businesses.
Nate

Ooooh, ooooh. You just made up some bullcrap.

ECON 101? You won't find that crap about "cutthroat bidding passing loses to workers" in any college textbook in use today

Myth and Measurement
by David Card & Alan B. Krueger

David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990-91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs.

A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country.

Sorry you missed it.

Nate

See also:

MINIMUM WAGE EFFECTS ACROSS STATE BORDERS:
ESTIMATES USING CONTIGUOUS COUNTIES
Arindrajit Dube, T. William Lester, and Michael Reich*
http://www.irle.berkeley.edu/workingpapers/157-07.pdf

Nate

ButtermilkBuoy wrote:

NateS wrote:It is Economics 101 that whenever there is not a floor on minimum wages reasonably consistent with the minimum cost of food, shelter and clothing, businesses are enabled to engage in cut-throat bidding for the consumers' dollar by passing on the loss to the workers with no diminishment in profits to the businesses.
Nate

Conspiracy theorist.

I may have to give up time to start again volunteering in campaigns so we can beat back those who wish for a central government to take more and more control of our lives.

Your votes are seriously retarding economic growth and employment in the U.S. and by that are making it tougher and tougher for people like Idaho's kids.

No need trying to convince you - you are permanently set in a tribal slot and rationalize your position continuously. We will try to beat you at the ballot box and we are going to do something about the brainwashing of our youth by government employees in government schools.