The main point of the living wage comparisons is to quantify how many people of all types are underwater. Even in the Golden Age! That usually means political risk comes next.
No shortage of debates on this across the years whether minimum wages, tariffs, or the risks of deficits. Regardless of the untested assumptions built in, it all gets back to what the "elected guys" promise and deliver. Then brace for impact. A lot of faculty club and conference room intellectual rage-fests unfold that never get resolved. This one won't either - until it gets tested. Is $25 the number? I have heard more than a few 180-degree opposite views over the years expressed with 100% certainty. That never changes.
The main point of the living wage comparisons is to quantify how many people of all types are underwater. Even in the Golden Age! That usually means political risk comes next.
No shortage of debates on this across the years whether minimum wages, tariffs, or the risks of deficits. Regardless of the untested assumptions built in, it all gets back to what the "elected guys" promise and deliver. Then brace for impact. A lot of faculty club and conference room intellectual rage-fests unfold that never get resolved. This one won't either - until it gets tested. Is $25 the number? I have heard more than a few 180-degree opposite views over the years expressed with 100% certainty. That never changes.
Ask it to explain to you how price floors work before you put thousands out of work by raising the price floor we now have.
Then consider that the problem with “real wages” isn't the “wage” part but the “real” part.