Originally Posted By: Derid
Quote:
Scenario A: Paying livable wages and healthcare would bankrupt currently profitable corporations.

Scenario A will happen with almost a certainty in some cases


Outline a path for such outcome. To make it easy - assume entire payroll doubled, not just hourly wages, and nothing was passed to the consumer. Take any retail or fast food industry, assume 20% profit margin and show me them going from profitability to non-profitability.

If you are too lazy to go through this exercise - I will save you the time, you would be hard pressed to make such case.

Have you read Card and Krueger on monopsony power in labor markets?

Plus lots of recent stuff, like Addison, Blackburn, Cotti 2009 paper on US retail or Metcalf's work in UK.

Not that I want to get into discussing this with you, there is less than zero chance that you'd listen to any of it.

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