Monday, February 10, 2014

The New York Times Should Raise Its Price By 50% Between Now And 2016

How do you get people to purchase more of something?  According to the New York Holy Times, you raise the price. 

How do you make yourself more attractive to employers?  Keep raising your requested wage until someone says "I'll hire you". 

How do you increase employment?  According to the New York Holy Times, you put an added burden on people who purchase labor. 

Good God in heaven.....

Go here.  They've come out with another editorial demanding that the minimum wage be increased by some random amount yet to be determined. 

HOW HIGH SHOULD IT BE? There’s no perfect way to set the minimum wage, but the most important benchmarks — purchasing power, wage growth and productivity growth — demonstrate that the current $7.25 an hour is far too low. They also show that the proposed increase to $10.10 by 2016 is too modest.

You're damn right, there's no perfect way.  There is no way. 

I want to be paid as much as possible for my labor.  Employers want to pay as little as possible.  That varies from person to person, industry to industry, and enterprise to enterprise.  And the last humans on earth that I would want to determine that rate?  The New York Holy Times Editorial Board, Barack Obama, and the U.S. Congress.  The "perfect" rate will be determined by political considerations, not economic ones. 

I'm not going to rant about the racist origins of minimum wage legislation.  (Google the Davis-Bacon Acts.) 

I'm not going to rant about the obvious fact that if your skills aren't worth $10.10 per hour, it'll be illegal for you to work. 

I'm just going to ask the New York Times to raise it's price by 50% between now and 2016.  It will help sales.  600 economists have said so. 

One last thing.....

One of the favorite talking points that these guys like to trot out goes like this....   "If wages had kept pace with productivity, workers would be earning 43.07% more per hour."

Here's their chart.

That's probably an accurate chart. 

The other chart, the one they don't show, reveals that the iPhone in the typical minimum wageworker's pocket, would have cost 3.1 MILLION dollars in 1991

Is there anyone who thinks that the world would be better if cell phone prices were in line with worker productivity? 

200 years ago, something like 98% of us had to work on farms.  Food was a massive percentage of everyone's budget.  Do you with that your food costs reflect the increase in worker productivity, just out of fairness? 

God, they make me crazy. 



Buffalo Pete said...

You forgot the "Go here" link.

The Whited Sepulchre said...

Fixed. Dang it.
BTW, Buffalo Pete, I've admired your comments on Reddit for quite some time.
Thanks for your help!

Buffalo Pete said...

Hey, thanks man! I'm always lurking around here, I know I don't comment often but I love your stuff!