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What Else Ya Got Mike Huckabee


New Mexico Insane Law


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Comment Preferences

  •  Tip Jar (1+ / 0-)
    Recommended by:
    rebel ga

    A search for truth will find injustice!

    by thinkingblue on Mon Feb 11, 2013 at 04:16:23 PM PST

  •  yep when we had God in the public schools (1+ / 0-)
    Recommended by:

    we as a nation enslaved people of a different race while we exterminated native people and bullied our nation's neighbors.  This leaves out small activities such as the extinction of entire species, degradation of our environment and various other small acts. If only we could return to the good old days when we were guided by God

  •  Rise the medium wage , decrease CEO pay. (0+ / 0-)

    Why should the medium wage be increased ?

    The medium  wage of $7.25 a year  equal out to $14,500 gross income, assuming they work 40 hours a week.

    The federal poverty level for a family of 2 is $15, 130.

    Does Higher Minimum Wage Reduce Jobs?
    Arindrajit Dube: Research shows raising minimum wage does not impact job loss in short or long term.

    The Real News looks at strategies to increase purchasing power to stimulate the economy. In an interview with The Real News, Arindrajit Dube, labour economist and Assistant Professor of Economics at University of Massachusetts, said that increasing the minimum wage in some areas has not reduced jobs as expected by the conventional theory.

    Dube’s research looks at the effects of minimum wage differentials across state boarders where the minimum wage is higher on one side of the boarder than the other. His research looks at the service industry, which he said employs the majority of minimum wage workers. According to his findings, both the short and long term effects of the increased wage on unemployment were negligible.

    “And that, I think, is an important factor to keep in mind for policy makers as they consider raising the minimum wage,” he said.

    Dube said the conventional wisdom surrounding minimum wage comes from research done before the early ‘90s. The theory is that jobs will be lost because employers, having to pay each employee more, will reduce the number of employees to offset the cost.  

    Dube told TRNN that around the early to mid ‘90s some economists realized these studies were badly flawed, and began looking at local evidence instead of just national evidence. The famous work of labour economists David Card and Alan Kruger looked at the boarder of New Jersey and Pennsylvania when New Jersey raised its minimum wage. Within a year, he said, not only had employment in New Jersey not decreased, it had actually risen in some groups.

    He said the report received strong criticism from the economic community, but Dube’s studies apply this technique across boarders of all the states, over a twenty year period to track the effects in many cases, and for a much longer period.

    “In that sense, we build on, but really generalize the Card and Kruger approach, and really address some of the serious criticisms that were made. And at the end of the day our results are actually strikingly similar to the original Card and Kruger finding, even though we were able to respond to pretty much, you know, all the criticisms that were levied against the single, kind of case study approach.”

    Dube’s findings indicate that a higher minimum wage helps service retailers attract and retain employees, increasing their productivity. He said that a restaurateur, for example, is likely to reduce his employees when the wage goes up if only one restaurant raises their wage, but if most of them raise it, the added cost is passed on to the consumer who is likely to absorb it without decreasing their demand.

    Dube’s findings are specific to the service industry, which is generally tied to a specific market and does not have the mobility that manufacturing jobs have. However, he said there are very few Americans left in manufacturing that receive the minimum wage.

    His research includes tracking the effect of minimum wage increases during the recession. He said he found no difference in the effect of raised minimum wages during the higher unemployment of the recession.

    He said the ‘spillover effect’, where rising the minimum wage pushes up other wages, has only been found to affect those earning up to 25 per cent more than the minimum wage.

    Finally he added that work done by economists at the Federal Reserve showed minimum wage increase led to significant increases in purchases of durable goods.

    “From a perspective of stimulating demand, minimum wages will tend to increase demand by increasing the purchasing power of those workers.”


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