Analysis of Romney's defeat

[Joecoolyo]

He personally gave me like, 30 "Students for Obama" stickers.

How could I not vote for him after that?

 

[ace99]

I ate so much free pizza on his tab. I swear I was sick of pizza.

 

[GhostWriter16]

Ahahahahahahaha

First up I suggest you look up sticky wages.

Fair request, will do.

The short version is that sometimes output just reduces and employment drops because wages just don't move downwards very quickly regardless of regulation and economic conditions.

I don't disagree with this. I just think that minimum wages do increase unemployment. You could even argue that its better to give certain people welfare than to make them work for low wages, but the reality is that if your labor is only worth $5 per hour but the government says $7 minimum, you aren't getting employed.

And then maybe look up the relative unemployment rates and minimum wage levels of Spain, Australia and the United States (our minimum wage is substantially higher than either, at about $16/hr, and our employment is well lower).

I didn't say it was the ONLY effect it has.

I'm also mostly using intuitive logic here rather than actual economic discipline. I'm curious where it will take me, and what I can figure out on my own.

The minimum wage to unemployment curve theoretically exists, but there is very little data about where the actual numbers on that curve sit. Just because an overnight 40 dollar per hour minimum wage would trash employment levels doesn't mean 0 vs 5 vs 10 vs 15 has any significant impacts.

The reality is if you labor is worth x than if the government says you have to get paid more than x, you aren't getting hired.

I will grant you, government probably does have some influence on what x is. But that influence is surely limited, unless you print more money, which doesn't really help anything.

Go on?

And wait, wait...being forced to work insane hours is "a freedom"?

A free market transaction is never forced.

What's the problem with that?

Maybe nothing. Let's assume nothing. Its still their doing.

Now, back to seriousness, its a problem because it benefits whoever gets the inflated money first (Usually the wealthy and powerful) and hurts other people.

Probably. What I meant is that you're going to agree with some of these for ideological reasons unrelated to the effects they'll have on the working population.

Agree with the regulations or agree that they are bad?

I don't think children desire the right to work insane hours. They however, desire the right of not having to work insane hours.

General agreeement. I have, however, seen teenagers who were annoyed on how much the law limited their ability to work. My cousin once worked a 14 hour shift illegally because he wanted to

I hope you can justify child prostitution using this same logic to us!

You can't because of what I freaking said about children.

At least don't strawman. Actually address the ideology I'm proposing instead.

 

[GoodGame]

Yeah, I'll blame the Fed for the fact that it isn't now.

You can blame the price of oil for that too, since that actually fuels most production.

 

[Ziggy Stardust]

I blame the system and the man.

 

[WindFish]

The reality is if you labor is worth x than if the government says you have to get paid more than x, you aren't getting hired.

Except that never happens

 

[Terxpahseyton]

As I said in another thread: the labor market is probably the most dysfunctional market, by default. Because the reality of it by its very nature rejects the model's assumptions. People are no goods. At times they are treated that way, but they hardly can treat themselves like goods. But even if it was a perfect market artificially high wages would "merely" threaten a part of the workforce.

 

[Mr. Dictator]

A free market transaction is never forced.

And how many jobs have you had, out of curiosity?

 

[JollyRoger]

And how many jobs have you had, out of curiosity?

He knows enough that you can't blow an invisible hand job.

 

[Mr. Dictator]

He knows enough that you can't blow an invisible hand job.

I'm sure loads of wisdom could be tugged from such a libertine.

 

[GhostWriter16]

And how many jobs have you had, out of curiosity?

One...

As a student in school

 

[JollyRoger]

I'm sure loads of wisdom could be tugged from such a libertine.

I think you've pegged it.

 

[Mr. Dictator]

One...

As a student in school

Yes, that's part-time. Not really necessary to your survival, I assume.

 

[WindFish]

One...

As a student in school

Thats not a job

 

[JollyRoger]

One...

As a student in school

How much tax is withheld from your paycheck?

 

[GhostWriter16]

The reality is, I'm going to end up paying for the excesses of the generation before me. All these free gifts Romney and Obama are offering both sides, I'm going to be paying for it along with everyone above 25. The older generation is literally living off of the young by using government to spend more on them than it can afford.

I'm going to have to pay into social security, but I don't believe for a second I'll get one red cent from it. And that's not because of a conservative default (I'd rather them just do it now, its going to happen anyway and better before one more person pays into the ponzi scheme, but it will never happen because of the way electoral politics works. Either that or just don't put anyone else on it and see how long it survives on the money the people that are actually collecting paid into it [nothing])

Yet nobody will touch the sacred programs because of how electoral politics works. And so my generation will be stuck with nothing, unless technology gets us out of it ,because of the excess of those who are actually paying taxes right now.

Enjoy stealing from my generation knowing full well we will never get it back. In fact, go ahead, government will help you do it whether you actually take the money or not. Just stop freaking voting for it.

 

[JollyRoger]

So far, my generation has paid for your generation. Get over yourself.

 

[Nick Carpathia]

Haha it's every Internet Libertarian stereotype rolled into one.

 

[Arakhor]

LordofElves has an interesting quote in his signature.

 

[GhostWriter16]

It was your quote

But seriously, I'm using my own brain here. Even if I am wrong, I'm using my own mind. And I know as well as anyone that a 1-2 trillion dollar deficit is unsustainable. And I realize that more taxation would increase revenue (Unlike some conservatives) I just don't think "More extortion" is a way to solve the problem. You want huge tax rates used to provide many "Free" services, move to Europe Let us have our limited government in just this one place