Minimum wage: $15 NOW!; or 15... eventually - Page 7

Gravdigr · 12-12-2018, 11:13 AM

Quote:

Originally Posted by tw

That is not the cheeseburger that was served back then. We are discussing retail prices - not the price of discounted loss leaders.

What if I used a coup'n?

tw · 12-13-2018, 08:58 PM

Quote:

Originally Posted by Gravdigr

What if I used a coup'n?

Use shillings. That is monopoly money. So it does not cost anything.

Undertoad · 12-11-2018, 08:32 PM

That's right. If you are going to use a burger as an economic index, you have to use the Big Mac.

Flint · 12-14-2018, 05:23 PM

Quote:

Originally Posted by Undertoad

That's right. If you are going to use a burger as an economic index, you have to use the Big Mac.

Quote:

For example, using figures in July 2008:[5]

the price of a Big Mac was $3.57 in the United States (varies by store)
the price of a Big Mac was £2.29 in the United Kingdom (varies by region)
the implied purchasing power parity was $1.56 to £1, that is $3.57/£2.29 = 1.56
this compares with an actual exchange rate of $2.00 to £1 at the time
(2.00-1.56)/1.56 = 28%
the pound was thus overvalued against the dollar by 28%

Nice.

Griff · 12-14-2018, 07:01 PM

In the paper, Amanda Y. Agan of Rutgers University and Michael D. Makowsky of Clemson University analyzed the effect of 200 state and federal minimum wage increases on 6 million people released from prison between 2000 and 2014. What they found was striking: Raising the minimum wage by $0.50 reduced the chance that a person would end up incarcerated within a year by 2.8 percent.
https://www.citylab.com/equity/2018/...divism/571948/

xoxoxoBruce · 12-15-2018, 01:09 AM

minimum ain't enough...

tw · 12-15-2018, 09:28 AM

Quote:

Originally Posted by Flint

Nice.

That clearly says nothing about inflation. All this was discussed previously:
Would someone give me the short version of this basic economics question?

Clodfobble · 12-11-2018, 10:19 PM

Quote:

Originally Posted by tw

That 63 cent Egg McMuffin is now called $3.10. So automation explains why Egg McMuffin prices have decreased.

It's also worth noting, however, that automation must occur in bulk offsite in order to be cost-effective, which has only been made possible by the advent of chemical preservatives. If those chemical preservatives were eliminated--either through official safety regulations or general customer refusal--much of the automation trend would grind to a halt, as it were.

sexobon · 12-15-2018, 07:55 PM

If they had taken that $20 bill from 1998 and invested it instead of buying all that junk food, they might have been able to fill their cart now.

xoxoxoBruce · 12-15-2018, 10:48 PM

They'd be real skinny too.

tw · 12-15-2018, 11:07 PM

Quote:

Originally Posted by xoxoxoBruce

They'd be real skinny too.

But notice how hard the dependent will fight over the estate. A tribute to the healthier and deceased.

Flint · 12-17-2018, 01:14 AM

Right, why don't the poors just invest their money instead of buying groceries? They could eat take-out, so what's the problem?

tw · 12-17-2018, 09:20 AM

When told that her French subjects had no bread, Marie-Antoinette had the solution. It still applies. “Let them eat cake.”

sexobon · 12-18-2018, 04:01 PM

There may be some cake in there. That 1998 grocery cart looked liked it was full of junk food, hence my previous comment.

tw · 12-18-2018, 04:25 PM

Quote:

Originally Posted by sexobon

That 1998 grocery cart looked liked it was full of junk food, ...

Good. There must be chocolate. Essential for improved (short term) brain activity. Which proves man cannot live on cake alone.

12-14-2018, 07:01 PM	#5
Griff still says videotape Join Date: Feb 2001 Posts: 26,813	In the paper, Amanda Y. Agan of Rutgers University and Michael D. Makowsky of Clemson University analyzed the effect of 200 state and federal minimum wage increases on 6 million people released from prison between 2000 and 2014. What they found was striking: Raising the minimum wage by $0.50 reduced the chance that a person would end up incarcerated within a year by 2.8 percent. https://www.citylab.com/equity/2018/...divism/571948/ __________________ If you would only recognize that life is hard, things would be so much easier for you. - Louis D. Brandeis

12-15-2018, 01:09 AM	#6
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	minimum ain't enough... Attached Images __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

12-15-2018, 10:48 PM	#10
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	They'd be real skinny too. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

12-17-2018, 01:14 AM	#12
Flint Snowflake Join Date: Mar 2006 Location: Dystopia Posts: 13,136	Right, why don't the poors just invest their money instead of buying groceries? They could eat take-out, so what's the problem? __________________ **************** There's a level of facility that everyone needs to accomplish, and from there it's a matter of deciding for yourself how important ultra-facility is to your expression. ... I found, like Joseph Campbell said, if you just follow whatever gives you a little joy or excitement or awe, then you're on the right track. . . . . . . . . . . . . . . . . . . . . . . . . . . Terry Bozzio**

12-11-2018, 08:32 PM	#3
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	That's right. If you are going to use a burger as an economic index, you have to use the Big Mac.

12-15-2018, 07:55 PM	#9
sexobon I love it when a plan comes together. Join Date: Oct 2009 Posts: 9,793	If they had taken that $20 bill from 1998 and invested it instead of buying all that junk food, they might have been able to fill their cart now.

12-17-2018, 09:20 AM	#13
tw Read? I only know how to write. Join Date: Jan 2001 Posts: 11,933	When told that her French subjects had no bread, Marie-Antoinette had the solution. It still applies. “Let them eat cake.”

12-18-2018, 04:01 PM	#14
sexobon I love it when a plan comes together. Join Date: Oct 2009 Posts: 9,793	There may be some cake in there. That 1998 grocery cart looked liked it was full of junk food, hence my previous comment.

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