Comments on: Strong opinion, lightly held on Ontario minimum wage http://www.hogtownconsulting.com/wordpress/archives/strong-opinion-lightly-held-on-ontario-minimum-wage/ The Hogtown Consulting weblog, Internet technolgy and how it relates to your business Wed, 08 Oct 2008 02:56:12 +0000 http://wordpress.org/?v=2.3.3 By: pdinnen http://www.hogtownconsulting.com/wordpress/archives/strong-opinion-lightly-held-on-ontario-minimum-wage/#comment-1709 pdinnen Fri, 05 Jan 2007 22:47:21 +0000 http://www.hogtownconsulting.com/wordpress/archives/strong-opinion-lightly-held-on-ontario-minimum-wage/#comment-1709 Thanks for the thoughts Mark, that's kind of the feeling I had in my sub-Econ. 101 way. Thanks for the thoughts Mark, that’s kind of the feeling I had in my sub-Econ. 101 way.

]]> By: Mark Kuznicki http://www.hogtownconsulting.com/wordpress/archives/strong-opinion-lightly-held-on-ontario-minimum-wage/#comment-1708 Mark Kuznicki Fri, 05 Jan 2007 22:38:33 +0000 http://www.hogtownconsulting.com/wordpress/archives/strong-opinion-lightly-held-on-ontario-minimum-wage/#comment-1708 Classical economics argues that increasing the cost of labour causes unemployment as employers substitute capital for labour. However, the reality is that most of these minimum-wage jobs are service industry jobs with few ways of substituting capital for labour. McDonalds order-takers will not be replaced by robots anytime soon. Many studies have shown the positive economic benefits of increasing the minimum wage from stimulating consumer spending at the bottom of the income pyramid. So I say, yeah, bring it on. Classical economics argues that increasing the cost of labour causes unemployment as employers substitute capital for labour. However, the reality is that most of these minimum-wage jobs are service industry jobs with few ways of substituting capital for labour. McDonalds order-takers will not be replaced by robots anytime soon. Many studies have shown the positive economic benefits of increasing the minimum wage from stimulating consumer spending at the bottom of the income pyramid.

So I say, yeah, bring it on.

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