Friday, July 31, 2009

President Reagan Rests in Peace ... But Will His Voo-Doo Economics Ever Die?

Posted by Dave Johnson, Campaign for America's Future at 10:51 AM on July 31, 2009.

What are you going to believe, what “free market” ideologues tell you or your own lying eyes?

There are things you can see in front of your face, and then there are things that conservative “free market” ideologues tell you.

One example is when they talk about the minimum wage. (An increase in the national minimum wage goes into effect today.) Conservative “free market” ideologues tell you that raising the minimum wage “costs jobs.” They say that if employers have to pay a few cents more per hour they won’t employ as many people.

But then there is something you can see in front of your face: whenever the minimum wage is raised, things get better. Things obviously get a little better for the people who work at the minimum wage, and for their families. As this works its way up the food chain things get a little better for the people and stores these workers rent and buy from. But also, studies looking into the effect of what actually happens after the minimum wage is raised show that the net effect is no loss of jobs.

Here is why. Read entire article here!

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9:44 AM  

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