Reply to Does anyone else feel like we are the precipice of economic calamity?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]For the UMC, things will continue to be fine.  For the MC, LMC, and the poor, things have been bad for a while and will continue to get worse.

It’s been a tale of two cities for a while OP. [/quote]

Job seekers are now looking for $20/hr.  They're done with $15/hr, that's not enough.

Yes, prices are going up.  So are wages.  No one is happy - but isn't that good?[/quote]
damn stupid workers wanting to make a living wave, right PP?[/quote]

Unless you are freeloading off mom and dad, you can't keep a roof over your head around the DMV at $20 per hour.[/quote]

So where does it end? Do all of these “living-wage” activists think employers aren’t going to simply respond by hiring fewer people (and having them do more work) or get more robots? Pretty soon there will be no true entry level jobs left. And that will be a great loss for everyone, especially for young people and others who need to get on that first rung of the ladder. [/quote]

This is not what reasonable economists predict what will happen by keeping entry-level wages closer to historical inflation-adjusted norms.  Which is what a living wage is.  Automation is a real threat, but it's not living wage activists that are causing that threat.  It will come regardless of what we do and better to fight for workers' rights in the face of automation than not.[/quote]

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