bitchy asides...

Carrol Cox cbcox at mail.ilstu.edu
Fri Jan 22 07:31:56 PST 1999


MScoleman at aol.com wrote:


>
> In fact, the unemployment rate has fallen significantly following the recent
> increases in the minimum wage. The argument, which can even be found in some
> mainstream texts these days, is that an increase in min wage increases
> consumption spending, which increases effective demand, creating more jobs.

Most arguments of the form that "what is good for workers is bad for workers" seem to be merely variations, of varying degrees of complexity, of the arguments Marx knocked down in *Wages, Price and Profits*.

Carrol



More information about the lbo-talk mailing list