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£10 minimum wage? watch

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    (Original post by Quady)
    So unless you know the marginal productivity its not a useful argument.

    Is your reposte to 'but your argument doesn't work' that 'oh its far more complicated than I originally said'? You can't predict what'd happen.
    No, it's standard economic theory that prices higher than the market price constrain the amount of buyers who will purchase at that price.

    If you wish to propose a policy that you expect to transcend the expected consequences as outlined by theory, it's not a strong argument in its favour to merely say, "you can't predict what'd happen."
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    (Original post by DJKL)
    They will surely only make them redundant if the marginal income they generate for the firm is less than £10. To act otherwise would be irrational if a firm's aim is maximum profit.

    What would occur is that technology inputs (machinery) that was previously uneconomic on cost/running cost grounds might become favoured over labour, now being economic to use. So unemployment might rise as employers invest in equipment and reduce labour use.

    Robots will continue to develop and may become the labour force of choice.
    Yes, although in any case, I think machines will make this all moot sooner-or-later anyway.
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    (Original post by miser)
    No, it's standard economic theory that prices higher than the market price constrain the amount of buyers who will purchase at that price.

    If you wish to propose a policy that you expect to transcend the expected consequences as outlined by theory, it's not a strong argument in its favour to merely say, "you can't predict what'd happen."
    Yet your source said that wasn't the case with NMW was brought in or with subsequent rises to date...

    So which post are you backing?
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    Reduce net immigration, use some supply side polices and minimum wage won't be needed as much. Don't encourage 50 percent of school leavers to go to university either, but still have a disciplined education system.
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    this will lead to a major inflation rate, i like it as it is
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    (Original post by Quady)
    Yet your source said that wasn't the case with NMW was brought in or with subsequent rises to date...

    So which post are you backing?
    There's no contradiction. The introduction of the NMW was most-likely simply mitigated by other prevailing factors, such that the economic disruption was gradual rather than sudden.
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    (Original post by miser)
    There's no contradiction. The introduction of the NMW was most-likely simply mitigated by other prevailing factors, such that the economic disruption was gradual rather than sudden.
    Handy that those prevailing factors have prevailed from 1998 to today.

    Funny you think they won't prevail from today to 2020.
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    (Original post by Quady)
    Handy that those prevailing factors have prevailed from 1998 to today.

    Funny you think they won't prevail from today to 2020.
    I don't dispute the prevailing factors, I dispute that NMW didn't cause economic disruption.
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    (Original post by miser)
    I don't dispute the prevailing factors, I dispute that NMW didn't cause economic disruption.
    Fine, why'd those prevailing factors end in 2015?
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    (Original post by Quady)
    Fine, why'd those prevailing factors end in 2015?
    I don't think we're having a productive conversation. I haven't expressed a belief that these factors ended or are ending.
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    (Original post by miser)
    I don't think we're having a productive conversation. I haven't expressed a belief that these factors ended or are ending.
    Cool, so its a large real terms increase.
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    (Original post by thatgr)
    I do a job just above the minimum wage, I'm happy getting £6 an hour because that's I feel it's worth it, there's no reason to raise it to £10 as it would probably lead to companies just firing people
    of course you're happy you have no bills to pay idiot try paying for ur brazzers subscription on that wage smh
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    (Original post by Rabadon)
    of course you're happy you have no bills to pay idiot try paying for ur brazzers subscription on that wage smh
    smh ***** have a few drinks think he bill gates
 
 
 
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