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1. a Claes unto himself 🇸🇪🇭🇰💙💛 (clacke)'s status on Monday, 18-Oct-2021 14:17:19 UTC a Claes unto himself 🇸🇪🇭🇰💙💛

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   • Kevin O'Brien

   > They knew they had two very similar labour markets, but they also realised they had a control group (Pennsylvania) where nothing was going to change, and a treatment group (New Jersey) where nothing was going to change except for one variable: the increase in the minimum wage.
   
   > So, they surveyed 410 fast food restaurants in New Jersey and Pennsylvania before and after the rise in the minimum wage.

   www.abc.net.au/news/2021-10-13…
   

   > However, their findings weren't welcomed by the establishment.
   [ . . . ]
   > American economist James Buchanan, a Nobel Laureate himself (in 1986), was scathing of the suggestion that a core "law" of economics might not be universal after all.
   [ . . . ]
   > "Just as no physicist would claim that 'water runs uphill,' no self-respecting economist would claim that increases in the minimum wage increase employment."

   /via pod.haxxors.com/posts/65bdd9e0… @Kevin O'Brien
   • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} repeated this.
   • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Monday, 18-Oct-2021 16:35:37 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}

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     in reply to

     • Economics of the US Economy
     @clacke Smaller studies in localized areas suggest the same thing.
     
     Also anecdotes, such as the shopping mall that overlapped two cities' mutual boundary. When one city raised its minwage, shops in their side of the mall were besieged with applications from people working in the other side. Some employers on the low-wage side ended up matching the high-wage side's pay scale in order to keep employees.
     
     And this was before coronavirus, so government unemployment subsidies were not the cause. !econusa