I don't care what you think demand means, you already said you know what I mean and you keep being obtuse about it. I'm not moving demand and supply curves, I'm saying if the price of oranges goes up, some people are gonna substitute them with apples. Yes, some people are gonna keep buying oranges anyway because they value them at more than what the price increase is at. But overall fewer people will buy oranges.
You keep giving specific examples of where employers might keep employees even if they have to pay them more, maybe to convince yourself that this is a complicated issue. I didn't say all minimum wage employees lose their job when the minimum wage rises. But there are fewer jobs. This isn't complex, there isn't a special nuance that requires a PhD in economics and an MBA to understand. Some employees are barely worth it at the current price to some employers and not worth it at a higher price. Minimum wage laws don't magically make employers value employees more.
The effects of minimum wage laws are visible. Increased unemployment, primarily for teenagers and young adults, automation, and outsourcing are commonplace everywhere with minimum wage laws.
Definition 3b.
I don't care what you think demand means, you already said you know what I mean and you keep being obtuse about it. I'm not moving demand and supply curves, I'm saying if the price of oranges goes up, some people are gonna substitute them with apples. Yes, some people are gonna keep buying oranges anyway because they value them at more than what the price increase is at. But overall fewer people will buy oranges.
You keep giving specific examples of where employers might keep employees even if they have to pay them more, maybe to convince yourself that this is a complicated issue. I didn't say all minimum wage employees lose their job when the minimum wage rises. But there are fewer jobs. This isn't complex, there isn't a special nuance that requires a PhD in economics and an MBA to understand. Some employees are barely worth it at the current price to some employers and not worth it at a higher price. Minimum wage laws don't magically make employers value employees more.
The effects of minimum wage laws are visible. Increased unemployment, primarily for teenagers and young adults, automation, and outsourcing are commonplace everywhere with minimum wage laws.