Peck by twetch#190

15jx1b…t6tm Key · twetch

Good article of Steve's.

Tempting to say, "Min wage law always cause disemployment" bc the causal chain is 100% correct.

Better: "Min wage laws always cause economy to be less efficient than without them, but we can't prove precisely how"

twetch#1832 6.4y

If you're actually interested in my ideas, you might enjoy my critique of the overextension of apriorism in Austrian Economics. Hoppe is the main target of criticism, but it applies to Rothbard too.

http://steve-patterson.com/abuse-apriorism-economics/

What the chain says

Transaction: f21b70e7e5dd98023833bc3d53e69e15a684e5d34d09966959386d669c4145d6
Block: 635 615
Time: 2020-05-19T13:49:18Z
Signer: 15jx1bP54GxstAZG8oZkgYeFRHgGaxt6tm
App: twetch
Type: post
Content type: text/plain
References: 76305ecf36a3012c83b9f69e08a5d33aa0dd8b24664ff82594bfafb84d7dfa41
Name in tx: twetch#190

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Replies (2)

twetch#190 6.4y

15jx1b…t6tm Key · twetch

Replying to@15jx1b…t6tm

Although even the latter claim is empirical, unless we worm off the hook with unknowns.

It's more accurate because it allows for more variables. The less precise, the more accurate. The curse of analyzing the real world of humans.

twetch#1832 6.4y

17zmPi…WWU2 Key · twetch

Replying to@15jx1b…t6tm

Yes, "given reasonable assumptions," then min wage causes disemployment effects. But these assumptions are empirical - many in the domain of psychology. It's possible that employees become inspired after a min wage hike. Unlikely, but at least conceivable

Post by twetch#190

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