[PEN-L:1803] Re: min wage in real world

[PATRICK L MASON <PMASON@xxxxxxxxxxxxxxxx>]

Comrades:

This may seem like a radical idea, and we certainly wouldn't want that, but
there was this fellow named Karl Marx who discussed the limits to wage
increases (and the political consequences) in a very good piece:

"Wages, Prices, and Profits."

Doug Orr's message "to demand the impossible" is most certainly the correct
perspective. (Aside: We're just 6 days past the 40th anniversary of Rosa Parks
demanding the impossible in Montgomery). But, we should also have some
analysis of the consequences of raising the minimum wage. And, as it turns
out, the minimum wage debate has heated up among orthodox economists.

At a minimum, radical/marxist/heterodox/progressive economists have to have
something to contribute to the debate which encompasses the work of Card and
Krueger.

peace, patrick l mason