Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site pucc-i Path: utzoo!watmath!clyde!burl!mgnetp!ihnp4!inuxc!pur-ee!CS-Mordred!Pucc-H:Pucc-I:ags From: ags@pucc-i (Seaman) Newsgroups: net.politics Subject: Re: Unemployment & the minimum wage Message-ID: <398@pucc-i> Date: Thu, 16-Aug-84 12:50:34 EDT Article-I.D.: pucc-i.398 Posted: Thu Aug 16 12:50:34 1984 Date-Received: Sat, 18-Aug-84 01:54:17 EDT References: <1665@inmet.UUCP> <451@tty3b.UUCP>, <388@pucc-i> <461@tty3b.UUCP>, <393@pucc-i> <463@tty3b.UUCP> Organization: Purdue University Computing Center Lines: 20 Early on in the minimum-wage discussion, it was pointed out that if minimum wages actually solved anything, you could instantly cure poverty in Bangladesh by establishing a minimum wage of $5.00 per hour. Putting it another way, it's really a shame that 17th century economists never thought of establishing minimum-wage laws, thus causing so many people to endure poverty needlessly for all those centuries! Even the minimum-wage advocates have not claimed that minimum-wage laws can cure poverty. Attempting to hide this gaping hole in their logic, they have lately taken to making a slightly different claim: If we abolish the minimum-wage laws in the United States, our standard of living will revert to that of the 17th century. This argument is not EXACTLY the same, of course, but I can't see why anyone would think it carries any more validity than the first one. -- [This is my bugkiller line. It may appear to be misplaced, but it works.] Dave Seaman My hovercraft is no longer full of ..!pur-ee!pucc-i:ags eels (thanks to my confused cat).