Would you like for your government to regulate prices, profits and wages?

[Iceweasel]

Curious what you believe happens to demand when the government artificially increases the price of something.

Basic rule of thumb is that increased cost reduces demand.

More serious estimation also includes demand elasticity analysis.

What the hell is that? Either it's priced too high and sells less or it's lower than it needs to be and they can't keep it in stock. The government is far to larger and filled with bureaucracies to respond to the marketplace with any kind of efficiency.

 

[AntonToo]

It also worked and continues to work well in America and the rest of economically developed world. Where there are certainly specific examples of government regulating some prices, some profits and some wages.

Be specific.

Minimal wage - that is a clear example of regulation of some wages.

The other examples are mostly found in inherently monopolistic businesses like basic utilities - government de-facto controls those prices and profits because consumer has little alternative but to rely on a single source for electrical/water/gas needs.

Regulation of monopoly | Economics Help

Minimum wage also prevents the young from getting a start in the job market. That's not a success. And I don't see how you can consider utility monopolies a success, compared to what?

We've had minimum wage since 1938's, I don't recall any crisis relating specifically to young not being able to start in the jobs market - do you?

Highest minimum wage was in the 60's at about ~$10-$11 in REAL terms, can you spot youth unemployment spiking?

We had slavery for a long time too, that didn't make it right. Of course many youths can't find jobs, what planet are you trying from? It's a beginner wage, the higher it is the less employers are going to be motivated. Have you ever owned a business?

That's right, just as slavery is morally wrong, so is compensation that borders on exploitation.

Your assertion that youth unemployment is obviously increased by higher minimum wage is contradicted by historic data.

 

[AntonToo]

Curious what you believe happens to demand when the government artificially increases the price of something.

Basic rule of thumb is that increased cost reduces demand.

More serious estimation also includes demand elasticity analysis.

What the hell is that? Either it's priced too high and sells less or it's lower than it needs to be and they can't keep it in stock.

Reality is far less binary, you can have slightly over-priced or slightly under-priced products, in fact to one degree or another most are.

Also, see drug pricing for a stark example of demand elasticity

WASHINGTON—Embattled drug entrepreneur Martin Shkreli — who vigorously defended his decision to hike the price of a life-saving drug from $13.50 to $750 — suddenly went silent Thursday at a Congressional committee

Martin Shkreli pleads the Fifth, then tweets about 'imbeciles' in Congress

 

[Iceweasel]

That's right, just as slavery is morally wrong, so is compensation that borders on exploitation.

Your assertion that youth unemployment is obviously increased by higher minimum wage is contradicted by historic data.

You need to connect the dots. You are just slinging shit out there and declaring they are associated. You are in no position to dictate what exploitation is or is not. You are not god and don't have the information. Nor can you claim with any credibility that job availability would be the same regardless. It defies logic. You just talk out of your ass, over and over and over.

 

[Iceweasel]

Curious what you believe happens to demand when the government artificially increases the price of something.

Basic rule of thumb is that increased cost reduces demand.

More serious estimation also includes demand elasticity analysis.

What the hell is that? Either it's priced too high and sells less or it's lower than it needs to be and they can't keep it in stock.

Reality is far less binary, you can have slightly over-priced or slightly under-priced products, in fact to one degree or another most are.

Also, see drug pricing for a stark example of demand elasticity

Martin Shkreli pleads the Fifth, then tweets about 'imbeciles' in Congress

Huh? Digging deeper into the cess pool?

 

[AntonToo]

That's right, just as slavery is morally wrong, so is compensation that borders on exploitation.

Your assertion that youth unemployment is obviously increased by higher minimum wage is contradicted by historic data.

You need to connect the dots. You are just slinging shit out there and declaring they are associated. You are in no position to dictate what exploitation is or is not. You are not god and don't have the information. Nor can you claim with any credibility that job availability would be the same regardless. It defies logic. You just talk out of your ass, over and over and over.

...lol that is not how the system works.

I do not dictate ANYTHING. What we the people do is vote and our representatives pass laws that dictate. In this case popularly supported minimum wage laws.

So what we are talking about is not my dictating anything, we are talking about is why I believe minimum wage laws are sound and what I base that on.

 

[AntonToo]

Curious what you believe happens to demand when the government artificially increases the price of something.

Basic rule of thumb is that increased cost reduces demand.

More serious estimation also includes demand elasticity analysis.

What the hell is that? Either it's priced too high and sells less or it's lower than it needs to be and they can't keep it in stock.

Reality is far less binary, you can have slightly over-priced or slightly under-priced products, in fact to one degree or another most are.

Also, see drug pricing for a stark example of demand elasticity

Martin Shkreli pleads the Fifth, then tweets about 'imbeciles' in Congress

Huh? Digging deeper into the cess pool?

...? Umm no?

 

[Iceweasel]

That's right, just as slavery is morally wrong, so is compensation that borders on exploitation.

Your assertion that youth unemployment is obviously increased by higher minimum wage is contradicted by historic data.

You need to connect the dots. You are just slinging shit out there and declaring they are associated. You are in no position to dictate what exploitation is or is not. You are not god and don't have the information. Nor can you claim with any credibility that job availability would be the same regardless. It defies logic. You just talk out of your ass, over and over and over.

...lol that is not how the system works.

I do not dictate ANYTHING. What we the people do is vote and our representatives pass laws that dictate. In this case popularly supported minimum wage laws.

So what we are talking about is not my dictating anything, we are talking about is why I believe minimum wage laws are sound and what I base that on.

You went much further than that. You were basing your statements on what you feel is exploitation. And why it would be so wrong anyway. I've done shit loads of stuff for many years for less that it was worth.

 

[Iceweasel]

Curious what you believe happens to demand when the government artificially increases the price of something.

Basic rule of thumb is that increased cost reduces demand.

More serious estimation also includes demand elasticity analysis.

What the hell is that? Either it's priced too high and sells less or it's lower than it needs to be and they can't keep it in stock.

Reality is far less binary, you can have slightly over-priced or slightly under-priced products, in fact to one degree or another most are.

Also, see drug pricing for a stark example of demand elasticity

Martin Shkreli pleads the Fifth, then tweets about 'imbeciles' in Congress

Huh? Digging deeper into the cess pool?

...? Umm no?

It makes no sense? What's the connection?

 

[AntonToo]

That's right, just as slavery is morally wrong, so is compensation that borders on exploitation.

Your assertion that youth unemployment is obviously increased by higher minimum wage is contradicted by historic data.

You need to connect the dots. You are just slinging shit out there and declaring they are associated. You are in no position to dictate what exploitation is or is not. You are not god and don't have the information. Nor can you claim with any credibility that job availability would be the same regardless. It defies logic. You just talk out of your ass, over and over and over.

...lol that is not how the system works.

I do not dictate ANYTHING. What we the people do is vote and our representatives pass laws that dictate. In this case popularly supported minimum wage laws.

So what we are talking about is not my dictating anything, we are talking about is why I believe minimum wage laws are sound and what I base that on.

You went much further than that. You were basing your statements on what you feel is exploitation. And why it would be so wrong anyway. I've done shit loads of stuff for many years for less that it was worth.

So? Me seeing $7/hour as exploitative is my moral opinion. So is slavery, though obviously on a whole different level.

Hell even when it comes to slavery and segregation some conservatives still quip about how blacks were better off.

 

[AntonToo]

Basic rule of thumb is that increased cost reduces demand.

More serious estimation also includes demand elasticity analysis.

What the hell is that? Either it's priced too high and sells less or it's lower than it needs to be and they can't keep it in stock.

Reality is far less binary, you can have slightly over-priced or slightly under-priced products, in fact to one degree or another most are.

Also, see drug pricing for a stark example of demand elasticity

Martin Shkreli pleads the Fifth, then tweets about 'imbeciles' in Congress

Huh? Digging deeper into the cess pool?

...? Umm no?

It makes no sense? What's the connection?

....You cannot see the connection between pricing elasticity and Martin Shkreli story where he increased the price of a product from $13 to $700?

Seriously?

 

[there4eyeM]

Central planning won WWII.

 

[danielpalos]

Many here complain about income inequality. I can only assume these are the people who believe they are getting the shaft and need to blame someone else for their poor choices. I say this because men and women of reason typically take charge of their situation and change it for the better instead of wallowing in self pity and blaming others. I understand that it can feel good to pretend that you are a victim and that it is not fair or that others only are successful because they cheated or had an unfair advantage or they were just darn lucky, but that really isn't the case. So my question for you unlucky, disadvantaged and cheated individuals is this....

Would you like for your government to regulate prices, profits and wages?

We have a Commerce Clause.

Only the right wing believes in the right wing fantasy of any form of common offense or general warfare.

 

[Timmy]

It wored well in Venezuela.

Winner, winner, chicken dinner!

Yes, indeed. I would be shocked if one liberal entered this thread to defend socialism, but you know they all want it.

All th winner countries have socailist aspects to them .

 

[danielpalos]

It also worked and continues to work well in America and the rest of economically developed world. Where there are certainly specific examples of government regulating some prices, some profits and some wages.

Be specific.

Minimal wage - that is a clear example of regulation of some wages.

The other examples are mostly found in inherently monopolistic businesses like basic utilities - government de-facto controls those prices and profits because consumer has little alternative but to rely on a single source for electrical/water/gas needs.

Regulation of monopoly | Economics Help

Do you consider minimum wage a positive government regulation of wages?

Yes, there should be a standard for minimal compensation for labor.

How does that help? Some economists believe it suppresses wages.

How does a minimum wage suppress wages?

 

[danielpalos]

Curious what you believe happens to demand when the government artificially increases the price of something.

Guys like Henry Ford, "rise to the challenge"?

 

[ding]

It wored well in Venezuela.

Winner, winner, chicken dinner!

Yes, indeed. I would be shocked if one liberal entered this thread to defend socialism, but you know they all want it.

All th winner countries have socailist aspects to them .

What exactly do you admire about socialism, Timmy?

 

[Dont Taz Me Bro]

It wored well in Venezuela.

It also worked and continues to work well in America and the rest of economically developed world. Where there are certainly specific examples of government regulating some prices, some profits and some wages.

Yes, Nixon's regulation of gas prices was a stunning success.

 

[Dont Taz Me Bro]

Yes, there should be a standard for minimal compensation for labor.

There is. It's called the wage you and your potential employer decide on when they hire you.

 

[AntonToo]

Yes, there should be a standard for minimal compensation for labor.

There is. It's called the wage you and your potential employer decide on when they hire you.

I see, and what would you say would be considered a lack of standard?