Monday, April 17, 2006

dying wage!

i spent like 5 hours last night writing this so id be super appreciative if you read it. i distributed these in big bunches at the living wage sites today. celebration kareoke tomorrow! woowoo!!

for fun, ive included my absolute favoritest quote from the living wagers economic argument. in response to the argument that price floors create surplus labor...

"What about the surplus labor then? Basic economics teaches that markets naturally adjust themselves to shifts in supply and demand to reach new points of equilibrium. At least in theory, other Charlottesville employers will increase their wages to attract the surplus workers, and eventually the market clearing wage will equal the UVA living wage."

lets think about this intuitively... if youre selling a good and you have more than is being sold, you need to LOWER the price to sell it all, right? the same is true for labor. if there is more labor than is being bought (surplus labor,) labors price will be bid LOWER until all laborors are hired.

the living wage "economics" is saying that when the living wage creates surplus labor, other companies will RAISE their wages to attract the new workers? these people are seriously nuts. when there is surplus labor, wages will have to go LOWER to clear the market! (explodes.)

for more ridiculously hilarious economic reasoning, check out...

silly living wagers... (respect for courage facing agents of the state though.)