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	<title>Comments on: The Downside of Minimum-Wage Legislation</title>
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	<link>http://cafehayek.com/2009/09/the-downside-of-minimum-wage-legislation.html</link>
	<description>where orders emerge</description>
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		<title>By: Anonymous</title>
		<link>http://cafehayek.com/2009/09/the-downside-of-minimum-wage-legislation.html/comment-page-1#comment-181459</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Thu, 17 Sep 2009 13:12:00 +0000</pubDate>
		<guid isPermaLink="false">http://cafehayek.com/?p=6274#comment-181459</guid>
		<description>How do you know it is what the market will bear? I don&#039;t think you can make any judgements on the article unless you take the profit margin of the companies that are denying these wages to the employees. 

The workers are human, per the article mainly women with childen, poor, mobility is sometimes limited for low wage employees(jobs they can get to, time they have to look for new employment, ability to relocate to a different city) , so yes, they work for what they can get but not becuase they really want to or are happy with the wage; they have to. They do not have all of these fantasy options that you all dream up. </description>
		<content:encoded><![CDATA[<p>How do you know it is what the market will bear? I don&#8217;t think you can make any judgements on the article unless you take the profit margin of the companies that are denying these wages to the employees. </p>
<p>The workers are human, per the article mainly women with childen, poor, mobility is sometimes limited for low wage employees(jobs they can get to, time they have to look for new employment, ability to relocate to a different city) , so yes, they work for what they can get but not becuase they really want to or are happy with the wage; they have to. They do not have all of these fantasy options that you all dream up.</p>
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		<title>By: Jobs For Teens</title>
		<link>http://cafehayek.com/2009/09/the-downside-of-minimum-wage-legislation.html/comment-page-1#comment-180685</link>
		<dc:creator>Jobs For Teens</dc:creator>
		<pubDate>Thu, 10 Sep 2009 16:43:00 +0000</pubDate>
		<guid isPermaLink="false">http://cafehayek.com/?p=6274#comment-180685</guid>
		<description>You are all saying the same thing.  I have a job listing site for teens (quite a popular one) and none of them can land a job these days except with me as all my work is legitimate online work.  The companies that I put them into hire them on the same day anywhere in the world.  So there are options out there.  Online work is the ultimate teen job, It&#039;s just a matter of weeding out the good places from the bad placed to work for.  Great article.</description>
		<content:encoded><![CDATA[<p>You are all saying the same thing.  I have a job listing site for teens (quite a popular one) and none of them can land a job these days except with me as all my work is legitimate online work.  The companies that I put them into hire them on the same day anywhere in the world.  So there are options out there.  Online work is the ultimate teen job, It&#8217;s just a matter of weeding out the good places from the bad placed to work for.  Great article.</p>
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		<title>By: Anonymous</title>
		<link>http://cafehayek.com/2009/09/the-downside-of-minimum-wage-legislation.html/comment-page-1#comment-180551</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Wed, 09 Sep 2009 18:33:00 +0000</pubDate>
		<guid isPermaLink="false">http://cafehayek.com/?p=6274#comment-180551</guid>
		<description>&quot;you can&#039;t design and run an experiment that explicitly tests your hypothesis&quot;

That is definitely a severe limitation of empirical economic analysis, and one that those using economic studies do not seem to fully appreciate when it comes to the confidence in which they assert their conclusions.

The solution to that problem is not to toss up your hands at the futility of economic knowledge.  It is to place greater emphasis on an objective rational framework in which to interpret observed data.  The depth and complexity of that framework must be greater than what is frequently necessary in the hard sciences.  That, and an irrational skepticism against objective reason (and perhaps an element of intellectual laziness, or ideological defense), leaves many economists clinging to the impossible notion of an empirical economic science.

With minimum wage, we have a good example of this.  You have the latter type of economist actually thinking that the C-K data proved (and could possibly prove) the objective necessary rational foundation of economics to be incorrect.

A good economist (e.g. one from the school of Mises) would rightly treat any empirical claim requiring that logical contradictions are real, or that human nature is not what it is, with extreme skepticism.
</description>
		<content:encoded><![CDATA[<p>&#8220;you can&#8217;t design and run an experiment that explicitly tests your hypothesis&#8221;</p>
<p>That is definitely a severe limitation of empirical economic analysis, and one that those using economic studies do not seem to fully appreciate when it comes to the confidence in which they assert their conclusions.</p>
<p>The solution to that problem is not to toss up your hands at the futility of economic knowledge.  It is to place greater emphasis on an objective rational framework in which to interpret observed data.  The depth and complexity of that framework must be greater than what is frequently necessary in the hard sciences.  That, and an irrational skepticism against objective reason (and perhaps an element of intellectual laziness, or ideological defense), leaves many economists clinging to the impossible notion of an empirical economic science.</p>
<p>With minimum wage, we have a good example of this.  You have the latter type of economist actually thinking that the C-K data proved (and could possibly prove) the objective necessary rational foundation of economics to be incorrect.</p>
<p>A good economist (e.g. one from the school of Mises) would rightly treat any empirical claim requiring that logical contradictions are real, or that human nature is not what it is, with extreme skepticism.</p>
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		<title>By: Anonymous</title>
		<link>http://cafehayek.com/2009/09/the-downside-of-minimum-wage-legislation.html/comment-page-1#comment-180511</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Wed, 09 Sep 2009 12:45:00 +0000</pubDate>
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		<description>Actually Justin, the term &quot;Dismal Science&quot; comes from Thomas Carlyle in response to economic theories related to Malthusian growth stagnation and ending slavery. In both cases according to Carlyle, the economics led to grim predictions. What you&#039;ve stated does not follow.

You&#039;re correct we can&#039;t test things in lab conditions, but natural experiments happen all the time. You just have to know where to look. </description>
		<content:encoded><![CDATA[<p>Actually Justin, the term &#8220;Dismal Science&#8221; comes from Thomas Carlyle in response to economic theories related to Malthusian growth stagnation and ending slavery. In both cases according to Carlyle, the economics led to grim predictions. What you&#8217;ve stated does not follow.</p>
<p>You&#8217;re correct we can&#8217;t test things in lab conditions, but natural experiments happen all the time. You just have to know where to look.</p>
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		<title>By: Justin P</title>
		<link>http://cafehayek.com/2009/09/the-downside-of-minimum-wage-legislation.html/comment-page-1#comment-180510</link>
		<dc:creator>Justin P</dc:creator>
		<pubDate>Wed, 09 Sep 2009 12:12:00 +0000</pubDate>
		<guid isPermaLink="false">http://cafehayek.com/?p=6274#comment-180510</guid>
		<description>The problem, especially in Econ, is that you can&#039;t design and run an experiment that explicitly tests your hypothesis. Hence the moniker &quot;Dismal Science.&quot; 
It would be nice if we could, hold everything constant and test. 

The way we have it now, is that you can test and prove almost anything you want, which is why we have Keynes. </description>
		<content:encoded><![CDATA[<p>The problem, especially in Econ, is that you can&#8217;t design and run an experiment that explicitly tests your hypothesis. Hence the moniker &#8220;Dismal Science.&#8221;<br />
It would be nice if we could, hold everything constant and test. </p>
<p>The way we have it now, is that you can test and prove almost anything you want, which is why we have Keynes.</p>
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