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The Real World Doesn't Work the Way That Simple Supply and Demand Model Suggests
If we raised the costs for employers, how could they not need to cut workers? And i think that the answer is that there's a growing body of evidence that the real world does not work the way that simple supply and demand model suggests. If my labor is worth, call it eight bucks an hour, and my employer tries to pay me only seven twenty five, in a simple supply and demand market, i'm going to walk out the door and find somebody who'll pay me eight bucks an hour. But in the real world, it can be more complicated than that....