Economics Thread
- Thread starter sturg33
- Start date
I guess all I’m saying is that if your claim is that tariffs are a positive thing for the United States worker because jobs will come to America and prices won’t go up, perhaps an article about a clothing manufacturer investing more heavily in another low wage Asian labor market to avoid those tariffs isn’t showing me much to support that claim.
acesfull86
Well-known member
Elon did a pretty good job warning about tariffs on Rogan’s show, and an even better job rebutting Joe’s idea that it would be great if the US was totally self sufficient.
Elon Musk, BIG textbook guy
Elon Musk, BIG textbook guy
NObody wnats zero trade - Taking it to this level is comical and just outright dishonest.
NObody wnats zero trade - Taking it to this level is comical and just outright dishonest.
acesfull86
Well-known member
https://www.nber.org/papers/w33167#fromrss
We provide a comprehensive analysis of the effects of minimum wages on blacks, and on the relative impacts on blacks vs. whites. We study not only teenagers – the focus of much of the minimum wage-employment literature – but also other low-skill groups. We focus primarily on employment, which has been the prime concern with the minimum wage research literature. We find evidence that job loss effects from higher minimum wages are much more evident for blacks, and in contrast not very detectable for whites, and are often large enough to generate adverse effects on earnings. We supplement this work with additional analysis that distinguishes between effects of an individual’s race and the race composition of where they live. The extensive residential segregation by race in the United States raises the question of whether the more adverse effects of minimum wages on blacks are attributable to more adverse effects on black individuals, or more adverse effects on neighborhoods with large black populations. We find relatively little evidence of heterogeneity in effects across areas defined by the share black among residents.
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Unsurprising result. Maybe one day the proponents of the minimum wage will cede their moral high ground and end their presumption that anyone opposed to it just hates poor people and wants them to be worse off. But that’s probably wishful thinking.
Good news from the real world:
https://apnews.com/article/california-proposition-32-minimum-wage-ballot-68e5320b2716d2a5844dc51b97a6e235
SACRAMENTO, Calif. (AP) — Voters in California have rejected a ballot measure that would have raised the state minimum wage to $18 per hour by 2026, the highest in the country.
We provide a comprehensive analysis of the effects of minimum wages on blacks, and on the relative impacts on blacks vs. whites. We study not only teenagers – the focus of much of the minimum wage-employment literature – but also other low-skill groups. We focus primarily on employment, which has been the prime concern with the minimum wage research literature. We find evidence that job loss effects from higher minimum wages are much more evident for blacks, and in contrast not very detectable for whites, and are often large enough to generate adverse effects on earnings. We supplement this work with additional analysis that distinguishes between effects of an individual’s race and the race composition of where they live. The extensive residential segregation by race in the United States raises the question of whether the more adverse effects of minimum wages on blacks are attributable to more adverse effects on black individuals, or more adverse effects on neighborhoods with large black populations. We find relatively little evidence of heterogeneity in effects across areas defined by the share black among residents.
—————
Unsurprising result. Maybe one day the proponents of the minimum wage will cede their moral high ground and end their presumption that anyone opposed to it just hates poor people and wants them to be worse off. But that’s probably wishful thinking.
Good news from the real world:
https://apnews.com/article/california-proposition-32-minimum-wage-ballot-68e5320b2716d2a5844dc51b97a6e235
SACRAMENTO, Calif. (AP) — Voters in California have rejected a ballot measure that would have raised the state minimum wage to $18 per hour by 2026, the highest in the country.
sturg33
I
Sorry aces, but if you're against forcing businesses to give poor people more money, then you hate poor people and want to see them on the streets.
That's the only logical explanation here
Tapate50
Well-known member
isthat the first time min wage increase has been voted down?
So I don’t have access to the full study, but this seems to raise as many or more questions about institutional racism as it does the minimum wage. I’m not a proponent of raising the minimum wage but if it’s actually disproportionately affecting black people and black communities rather than evenly by straight socioeconomic lines than there’s a lot more to explore there.
USPS, a service that is useless in a digital world.
Tapate50
Well-known member
GROSS
Are they still basically capped on what they can charge but forced to figure it out anyway? I’m ultimately fine paying for a postal service.
Pretty sure its still capped based on inflation - USPS is setup as an enterprise fund which means its supposed to act 'like a business' and be self sustaining. The fact that the governemtn is so stupid and doesn't allow it to actually act as intended (true business would increase revenues to cover costs plus margin) is what i believe is making it such a turd.
This doesn't mean that it still isn't grossly mismanged and fraud isn't draining funds that could help to make the process more efficient.
This doesn't mean that it still isn't grossly mismanged and fraud isn't draining funds that could help to make the process more efficient.
sturg33
I
The unions make it literally impossible to fire any employee