Minimum Wage

The MW needs to be abolished out of the principle.

If we have to debate every necessary change in economic policy like we are with a simple minimum wage, we are going to go through multiple recessions.

Blackflag: the economy is good at sorting itself out

There is literally no academic backing to this argument. Neoclassical economics is a pure fantasy.

admin: There is literally no academic backing to this argument.
There is honestly tons of evidence. Most likely you just disagree with it.

Neoclassical economics is a pure fantasy.
It made the US rich. Worked for Switzerland, Sweden, and the UK.

I would say neoclassical policies are what seperate rich countries from broken self imploding economies

Blackflag: The US became rich on the basis of Keynesian policies, including taking personal advice from Keynes himself, to end the Great Depression. This began a postwar boom that ran through the 50s. It wasn't until the 70s that the American government took anything else seriously again, and that was in the wake of massive stagflation.

admin: No, I disagree. Our biggest economic booms came from returns to neoclassicalism.

1880's, 1920's, 1950's, and 1990's all had evidence of major neoclassicalism, and those were milestones in our economy. The problem with neoclassicalism is that a lack of regulation could lead to implosion. The mistake was thinking that government tinkering was the solution when it really was the problem.

Switzerland and Sweden are awesome examples of modern day neoliberal economies.

Blackflag: *Norway not Sweden

admin: Eh, eventually, but I'm *really* strapped for time at the moment, ha.

admin: I would love to see you two debate it!

JohnMaynardKeynes: Thanks! Very in-depth and thought-provoking. I always enjoy it when you talk about the MW.

JohnMaynardKeynes: I agree with most of what you've said, which is why I believe that, on balance, a wage increase would detrimental.

Shameless bumping...