I know there havent' been any new posts this week - there just aren't that many discussion things that go with terms.
Posts this week will be extra credit. I'll get them in Monday morning.
It would be good, though, to revisit the ideas that Jacqui brought up in her comment before:
ok, so i was sitting on messenger tonight, procrastinating my homework, per usual, while talking to katie athas. she was writing a persuasive paper for college. it was on the positive effects of minimum wage. even though economists would say any government inference is bad, she still asked me for an argument. here is our conversation:
Katie says:what is one way the raising minimum wage would help the economy
Jac says:it wouldnt. most economists agree. if the government steps into the economy, ex: tariffs, quotas, minimum wage, ceilings and floors, this intereferes with the markets ability to retain or switch equilibrium. raising minimum wage is similar to inflation.
Katie:well that doesn't help my argument
Jac says:i know, im sorry.
Katie says:oh well
Jac says:im trying to think of some bs argument here. what do you have so far as your arguments?
Katie says:i will just have to find something else to babble about
Katie says:minumim wage is not livable, children suffer from it
Jac says:without minimum wage, the economy's equilibrium between supply and demand would change so that a larger gap between social/monetary classes would emerge. essentially, the rich would get richer and the poor would get poorer. already wealthy business tycoons, would then have the ability to use their resource, labor, to its maximum while paying close to nothing. a cashier could clock an 8 hour workday,
Jac says: but only recieve 8 cents. the lack of minimum wage, which is currently unable to support an average family consisting of two adults and two children, would dramatically increase poverty in america. combine this scenario with the increasing need to pay off the national debt, with the temporary solution of printing more currency, and inflation skyrockets. people immigrate to america to live the
Jac says:american dream. without the minimum wage, a standard as to where to start financial support, the dream is shattered.
Jac says:and yes, you can use it. just save the paper, in case i need to use my words again
Katie says:thank you. now my paper is almost done.
9:50 PM, March 23, 2006
km, i think you should make my last comment a big post. maybe we can discuss this as a class more.
**********Jacqui makes some really excellent points - great analysis...any comments?
Have a fun weekend...see you Monday!