RE: Why $15 an hour minimum wage SUCKS
December 17, 2020 at 12:17 pm
(This post was last modified: December 17, 2020 at 12:35 pm by The Grand Nudger.)
Turning it back in, we can keep in mind that a college degree is still demonstrably profitable, it's just a longer term investment than it used to be.
That might apply to our speific example - because the difference between degree holders and non degree holders isn't so much to do with getting a job anymore as it is expected earnings over lifetime. So...supposing that over time a walmart greeter ends up making more money. That shifts the labor market top to bottom. A degree holder might not be making more than our future 15 an hour walmart greeter now - but there's every reason to expect that her lifetime earnings will increase in some relative pattern to the expected earnings of a non degree holder.
The initial shock might be insulting. I get that. It's happened to me many times in my life, watching other people get help. It's like this thing with loan forgiveness. That's gonna sting, lol. I payed as I went and never finished- to a great extent...because I just don't borrow money. Still, it's good for us. Good for me, too. If more people have more disposable income, I can grab a smaller bite of a bigger pie and make more money. That takes alot of pressure off.
That might apply to our speific example - because the difference between degree holders and non degree holders isn't so much to do with getting a job anymore as it is expected earnings over lifetime. So...supposing that over time a walmart greeter ends up making more money. That shifts the labor market top to bottom. A degree holder might not be making more than our future 15 an hour walmart greeter now - but there's every reason to expect that her lifetime earnings will increase in some relative pattern to the expected earnings of a non degree holder.
The initial shock might be insulting. I get that. It's happened to me many times in my life, watching other people get help. It's like this thing with loan forgiveness. That's gonna sting, lol. I payed as I went and never finished- to a great extent...because I just don't borrow money. Still, it's good for us. Good for me, too. If more people have more disposable income, I can grab a smaller bite of a bigger pie and make more money. That takes alot of pressure off.
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