Reply to Minimum Wage = Living Wage?

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[quote=Anonymous][quote=Anonymous]People who know nothing about economics, an the supply and demand of labor prattling on about raising the minimum wage and forcing an arbitrary standard of "living wage". It'll just make goods and services too expensive for the poor to afford. Companies will hire less people and we'll have more unemployment. Only q fool would believe that companies won't lay off people, use more tech and other one time costs to cut down on costs. But then again most of you work for the government and live off the teet of the American tax paying public. [/quote]

And yet people who do know a great deal about economics argue these issues. I'm certain they have more information than I do, but even they don't seem to have decisive information. Sometimes we're all just playing with thought experiments.

So, apparently history tells us that when minimum wages have increased, we have seen an overall improvement not 0 sum game. Some people lost jobs, but not the number one would have expected if every dollar had to be accounted for that way. Some other wages increased, but not in the same exact dollar amount. If that's the case, is there a tipping point? Is it useful to push wages up until *just* before everything cascades down? Or is it not worth taking the risk?[/quote]

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