BASIC economics, but how many understand it...?

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AJMD429
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BASIC economics, but how many understand it...?

Post by AJMD429 »

https://mises.org/wire/how-not-argue-ag ... nimum-wage

Many of us, and our parents, understand this intuitively, but how many current high-school or college-age graduates could even parse through the article and understand it, much less grasp the concepts it describes.... :|
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Re: BASIC economics, but how many understand it...?

Post by Sixgun »

Doc,
It ain't rocket science........take a ride through the hood and the only businesses left are fast food and liquor stores....the rest have been chased out. (I've seen it) Let's pretend they get what they want ...$15 an hour...next year it'll be $20....after that the fast foods will close and there won't be any money left for the liquor stores..........then congress will pass a law complaining that there's no work in the poor areas so me and you have to let them move in our back yard and use our toilets...... :D

Ha! I just don't care anymore....disaster is only a couple of decades away.....let it be.....
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Re: BASIC economics, but how many understand it...?

Post by piller »

Not every job is meant to be a lifetime job that pays the bills. Starter jobs were around when I was young. They were a good idea. Paying $15 per hour for starter jobs is just insane.
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Re: BASIC economics, but how many understand it...?

Post by mickbr »

basic economics, math, logic and even geography has gone Doc. How else could they get the idea of a pandemic across the line that essentally misses 160 poorer countries, + half the rich countries, but randomly hits the other half of the richest and largest countries the hardest. The inconsistences between lockdowns/no lockdowns, case rates, fatality rates across the globe reads like a sci-fi movie plot with a $50 budget.

We just plain bred our survival instinct out. Im not talking the ability to skin an animal or forage either. Im talking the ability to look at things twice before believing them. In nature camoflage is a main tool of the predator. Those who survive are the ones who question whether the dark lines in long grass are just more reeds or a tigers stripes. I reckon less than 1% of the population uses their brain like that anymore. Predators roam in broad daylight now.
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Re: BASIC economics, but how many understand it...?

Post by Grizz »

Best book I've read on economics is Wealth and Poverty by George Gilder. It is one of the best written books I've read because he has me asking questions that he then answers. I think he is a brilliant writer.

This should be a basic school book starting new readers in 2nd or 3rd grade, depending on aptitude of course. Only home schoolers, taught from the McGuffy Readers would get this opportunity. The "school" opportunities are owned by marxists . . .
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Re: BASIC economics, but how many understand it...?

Post by gcs »

Anyone who depends on a minimum wage salary to support themselves, and or family, Have made a lot of bad decisions....
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Re: BASIC economics, but how many understand it...?

Post by rossim92 »

piller wrote: Fri Feb 12, 2021 11:34 pm Not every job is meant to be a lifetime job that pays the bills. Starter jobs were around when I was young. They were a good idea. Paying $15 per hour for starter jobs is just insane.
yep ! i agree . where i work at, I make 22.00/hr, the truck driver/shop helper makes 12.00/hr. If his wage goes up to 15.00/hr and then eventually higher, complying with federal wage guidelines. the problem is that raises for me are really non existent in my trade now. If you don't get it walking in the door ,you not getting anymore. hence, the second problem! His position pay scale climbs while mine stays the same, even though my position requires four times the skill level to do my job. Me and him already had a "discussion" on pay. He believes in socialism and we all should make the same amount regardless of skill level. He has been offered training on my machines and trained by myself and others, he can't (or won't) acquire the skills needed to run and maintain the machines as needed. He is complacent in his work habits and position. Heck I can't even get him to catch for me on my machines with me because he has no speed, only one gear, and that is first gear. My foreman just lets it be . She's not the type to rock the corporate boat. Sorrry, for the rambling, but I feel a lot of today's work force and generation all have their hands out for the freeebies. I'm 58 years old and been in my trade for forty years. back then we didn't have computerized equipment like now a days, you earned your bucks back then.
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Re: BASIC economics, but how many understand it...?

Post by Sixgun »

I've been thinking about this post......from '66-'68 I was a paperboy making about $3 a week ....maybe 4 if the tips were good...virtually nothing if a couple of customers didn't pay me the .84 fee I collected every two weeks......it took me quite awhile to save up for my first shotgun, a Winchester model 1200 that cost $104.........

I should have complained and demanded $500 a week and could have continued with this job all my life.
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Re: BASIC economics, but how many understand it...?

Post by marlinman93 »

piller wrote: Fri Feb 12, 2021 11:34 pm Not every job is meant to be a lifetime job that pays the bills. Starter jobs were around when I was young. They were a good idea. Paying $15 per hour for starter jobs is just insane.
Absolutely! What was once a starter job, is now a career for some folks! We see couples where both parents work at entry level jobs, and seem to have no desire to better their situation. They don't want to learn a skill, and make more money. Instead they want to stay where they are, but make more money!
I'm unsure when things changed from the way they used to be when these entry level jobs were all held by people in high school, or just out of high school? But it's rare to even see a young person at most of what was entry level work.
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Re: BASIC economics, but how many understand it...?

Post by Larkbill »

rossim92 wrote: Sat Feb 13, 2021 11:05 am
piller wrote: Fri Feb 12, 2021 11:34 pm Not every job is meant to be a lifetime job that pays the bills. Starter jobs were around when I was young. They were a good idea. Paying $15 per hour for starter jobs is just insane.
yep ! i agree . where i work at, I make 22.00/hr, the truck driver/shop helper makes 12.00/hr. If his wage goes up to 15.00/hr and then eventually higher, complying with federal wage guidelines. the problem is that raises for me are really non existent in my trade now. If you don't get it walking in the door ,you not getting anymore. hence, the second problem! His position pay scale climbs while mine stays the same, even though my position requires four times the skill level to do my job. Me and him already had a "discussion" on pay. He believes in socialism and we all should make the same amount regardless of skill level. He has been offered training on my machines and trained by myself and others, he can't (or won't) acquire the skills needed to run and maintain the machines as needed. He is complacent in his work habits and position. Heck I can't even get him to catch for me on my machines with me because he has no speed, only one gear, and that is first gear. My foreman just lets it be . She's not the type to rock the corporate boat. Sorrry, for the rambling, but I feel a lot of today's work force and generation all have their hands out for the freeebies. I'm 58 years old and been in my trade for forty years. back then we didn't have computerized equipment like now a days, you earned your bucks back then.
Those are the kind of people that just drive me crazy! But they are exactly why socialism gets a foothold. I had a neighbor like that, now gone because of foreclosure, which of course should be illegal according to him. When I was laid off from the car dealer at 59 and got a CDL to reinvent myself the truck lines were (and still are) trying to fill seats. Oh no, he says, I don't want to be gone and work those kinds of hours. So instead he stocked shelves at ALDI and complained they didn't pay him enough. He'll still be complaining when his SS isn't enough to live on, don't get me started on that.
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