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Old 06-26-2017, 05:02 PM   #84
tw
Read? I only know how to write.
 
Join Date: Jan 2001
Posts: 11,933
Well proven repeatedly in economics and history - if machines replace humans, then more human jobs are created, that economy is healthier, people's living standards increase, wealth of the common man increases, and it is all contrary to classic sound byte reasoning.

We also know that an economy is healthier and a Gini coefficient decreases when the minimum wage moves up to an affordable income level. Also known as a living wage.

A minimum wage that is too high may also have adverse affects. But anyone citing 'use of more machines' to lower peoples incomes and job opportunities is using wild speculation and junk science reasoning. History has repeatedly demonstrated otherwise.
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