(no subject)

[lsanderson]

Would cutting the minimum wage raise employment?

It seems that more and more Serious People (and Fox News) are rallying around the idea that if Obama really wants to create jobs, he should cut the minimum wage.

Would cutting the minimum wage raise employment? - Paul Krugman Blog - NYTimes.com

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Comments

Micro/Macro

[lsanderson.livejournal.com]

Not quite. I think he's saying if it won't work at the macro level, it won't work at the micro level. It's just a shill.

Re: Micro/Macro

[sethb.livejournal.com]

That claim is clearly bogus. Give one person a billion dollars, he's really happy and never has to work. Give everybody a billion dollars, and people aren't better off. (Some are, some are worse, on the whole society suffers.)