Quote:
Originally Posted by jammies
All else aside, this is like arguing that if increasing the speed limit on a highway from 100 km/h to 120 km/h has a minimal impact, it will also have a minimal impact if you raise it to 800 km/h.
Change is not linear. There are tipping points where a very small change can make a gigantic difference in outcome, and there are times when what are perceived to be radical changes make very little difference. The main problem I have with this proposed minimum wage change is that it could go either way and not much thought seems to have been put into finding out which.
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Yeah, I get the feeling we are at an economic tipping point, but that no one knows what the scale is, or what the effects will be or really anything.
Lots and lots of anxiety, and in these cases, I think the best thing for policymakers to do is pretty much nothing except for small tweaks to the social safety net.