Quote:
Originally Posted by galleryseek
^- Economics is economics regardless of the time in history. Basic principles such as supply and demand and the effects of wage floors, all still apply regardless of the point in history that we're talking about.
If you're concerned about a lack of jobs as you seem, then one such way to create a ton more jobs is by getting rid of the minimum wage. It's one of the primary factors that leads to job loss.
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Those rules are out of date. They were right in 1950.
Today if the supply is filed by people in the Third World, what workers wages drives demand?
Look at Third World millionaires and billionaires for the answer.