Saturday, February 1, 2014

Supply, Demand & Robots

Warning, warning! Danger Will Robinson!

We don't have enough demand for goods and services hence high unemployment. Raising wages for the poor increases their spending thus increasing demand and stimulating the economy. The minimum wage worker's part of the cost of anything is only a small percentage, it's not going to dramatically increase prices or cause a run to robots. They would already be using robots for those jobs if it was so close that $3/hour was the difference.

2 comments:

Roman Law said...

As always the right is always out with their talking point justifications for keeping the minimum wage depressed as this keeps their hold on wealth redistribution flowing to the top.

Anonymous said...

Worse yet the US Congress and the Maine Legislature have introduced laws to repeal child labor proabitions, minumum wage, the NLRB and overtime pay. The tricle down crowd would love to have children in the US working for 50 cents an hour in fire traps or collapsing factorys like they use in the underdeveloped nations. Columbus Ohio has discovered that lot of the uninhabital rental property in the city avaiable to the working poor is owned and managed by absentee slum lords who are very wealthy and live in gated comunities on the East Coast. These greedy bastards want to profit from manufacturing as well.