tag:blogger.com,1999:blog-11906042.post5393051386131091009..comments2024-03-22T11:55:50.335+13:00Comments on Not PC: QUOTE OF THE DAY: Nobel Prize winner on minimum wage increases [updated]Peter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11906042.post-35241577372001751442011-11-18T08:36:53.567+13:002011-11-18T08:36:53.567+13:00The problem isn't the minimum wage - it's ...The problem isn't the minimum wage - it's just that we need to get rid of both the minimum wage and the benefits that give an artificial floor to wages.<br /><br />NZ's workers are still highly overpriced compared with Australia - let along China: any serious attempt to reform NZ's economy must detail with this urgently.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-16522522347629535822011-11-18T07:49:18.083+13:002011-11-18T07:49:18.083+13:00I posit that government interference in employment...I posit that government interference in employment matters is political, and has no basis in economics.Shane Pleasancehttps://www.blogger.com/profile/06144367923437327037noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-78117761752539617122011-11-18T07:10:12.626+13:002011-11-18T07:10:12.626+13:00Whilst agreeing completely with the spirit of the ...Whilst agreeing completely with the spirit of the comment, to be pedantic, recent advances in behavioural economics suggest that some perceived luxury goods will in fact sell more when at a higher price.<br /><br />Somewhere in the distortions that have beneficiaries paid more than minimum wage once accommodation etc costs are built in there is a decent argument that increases in minimum wage will sufficiently reduce the disincentive to work that the quality of workers available at the minimum wage will increase and encourage employers to take on more staff.<br /><br />That does not rebut the point of the argument, it just suggests that in this fucked up world we could increase both minimum wage and employment.Phil Sagenoreply@blogger.com