So, You Want $15 An Hour?

That's exactly right. Set the cost of labor at $15 and cost will rise to pay for it. They think things are static and remain static.

The $15/hr IS cost, so yes...costs will rise.

Prices are set by market forces, however. If costs rise and prices don't, Costs must be reduced. People are laid off. That's the shortage caused by minimum wage laws, yet another price control.

Wages, like every other price, is set by market forces (unless some government comes around and manipulates it, the very definition of fascism).
 
The $15/hr IS cost, so yes...costs will rise.

Prices are set by market forces, however. If costs rise and prices don't, Costs must be reduced. People are laid off. That's the shortage caused by minimum wage laws, yet another price control.

Wages, like every other price, is set by market forces (unless some government comes around and manipulates it, the very definition of fascism).
Why not simply fire the ceo to save money?
 
Price controls never work, not even during wartime. You seem to be ignoring the numerous shortages during WW2 as FDR implemented one price control after another.
Yes, thanks. But, most of that was not necessarily due to price controls but demand that could not always be met. That is much different that inequality due to scarcity (of money).
 
Back
Top