| Re: conservatives/libertarians position on the minimum wage might charitably be termed 18th century |
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Group: sci.econ · Group Profile
Author: Robert BunnRobert Bunn Date: Oct 18, 2006 17:53
comcast.net> wrote in message
news:9hddj25n0pgv61esk4uuobafglfgurcvq7@4ax.com...
> On Wed, 18 Oct 2006 22:46:35 GMT, Les Cargill cfl.rr.com>
> wrote:>>
>>> And since wages are not the only component of prices they will not
>>> go
>>> up as much.
>>
>>It has nothing to do with this as a component of prices. It has to do
>>with the fact that more people have more money to chase
>>goods with. The demand is the same, so price adjusts.
>
>
> Or manufacturers will decide to capture the increased demand by
> producing more. You seem intent on only working your favorite variable
> at a time.
>
Suppose I am all the manufacturers in the country. If I can capture all
of the income in the country by producing at my current level, why
should I increase my production just because more dollars are available?
I can still capture all of the income in the country just by raising my
prices, without incurring any added expenses.
for it."
(retro: sorry for the misdirected email response you're getting right
now. Wrong button.)
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