Thoughts?
Minimum wage is a price floor that raises unemployment. If you want wages to rise, either increase demand or reduce supply.
>>69431222
oh boy, minimum wage AND rent controls? ask new york how well those turns out
http://www.econlib.org/library/Enc/RentControl.html
Idk senpai like $9 bucks should cover inflation but any higher than that you'll just turn it into a welfare state
>>69431492
The rent isn't controlled.
The minimum wage is a variable of the price of rent and zip codes.
exactly so the housing market is what drives the minimum wage
>>69431842
>>69431679
with his formula, minimum wage in my area would be $30.77
>>69431222
so the landowners get to decide how much minimum wage is? why not jack it up, its not them paying higher wages
>>69431999
Jew York City?
>>69431222
it would be great if the rent was from an actual free market, but that would never be allowed or even last a week before manipulation ruined it.
>>69431492
ask San Francisco how rent control turned out. they also rarely grant permits to construct new apartments.
https://www.washingtonpost.com/news/morning-mix/wp/2016/03/29/man-moves-to-san-francisco-pays-400-a-month-to-sleep-in-wooden-box-inside-friends-living-room/
>>69432126
orange country CA
jacking the price wouldn't work the price would still get driven down through competition. you could open up the zipcode a little to include be a median of surrounding 5 zipcodes or change it to studio apt. rural areas one bedrooms don't really exist in my experience
>>69431222
Why the fuck would an individual need a 2 bedroom apartment? Why do people feel entitled to luxuries they did not earn?
I only used 2 bedroom because I've never lived anywhere that has studios or 1 bedrooms
>>69432651
Because they feel like they deserve them since they accomplished the arduous task of merely existing in the year of Our Lord 2016
math is gay
>>69431222
Only if the % increase of aggregate demand is greater than the decrease in employment *and* the dead weight loss that is incurred.
>>69432651
>WHITES ARENT BIRTHING!!!
>BIRTHING RATES PLUMMETING THE MUSLIMS ARE TAKING OVER
>wow y do u want 2 bedrooms????///
>i bet u want a fridge too! and a TV omg!
>>69431336
This
Setting up a price floor for the rate at which workers can sell their labor will create unemployment, due to having a surplus of labor at that point.
You end up with a deadweight loss, because you have companies willing to hire for less than minimum wage and workers willing to sell labor for less than minimum wage, but adding a price floor on labor effectively makes this exchange (which two parties would profit from) illegal and hurts the market.
>>69433355
You dont need 2 bedrooms though. Or a TV either. They are both pointless.
shouldn't be a problem
https://scholar.google.com/scholar?hl=en&q=minumum+wage+unemployment&btnG=&as_sdt=1%2C2&as_sdtp=
>>69431222
Why should it be a two bedroom? If anything, it should be a studio, or a broom closet.
few studies actually show an increase in unemployment with reasonable increases to minimum wage
>>69431679
surely nobody will abuse this by using shell homes in high-value areas while living in low-value ones in reality.
>>69431222
Minimum wage should be fixed and adjusted manually by congress or whichever government body. It shouldn't be indexed to a particular price because then it might cause an inflationary spiral.
Anyway, having a minimum wage is better than nothing but the real minimum wage is still zero as long as there is unemployment. The solution is for the federal government to provide work to anyone that wants it: https://en.wikipedia.org/wiki/Job_guarantee
This approach is an objective improvement on the current system. See pic related.
>>69431222
mfw San Francisco minimum wage would be $50/hr.
>>69436106
we gonna dig more holes and fill them up?
japan has this issue right now. there's a point where we're just sending people to work just because
I think it would be fine as an "on call" type of thing. If you're on unemployment or welfare and they need peeps for a job or extra hands picking up trash or whatever you have to take the job or risk losing the benefit
