2min chapter

The Knowledge Project with Shane Parrish cover image

#39 Tyler Cowen: Thinking About Thinking

The Knowledge Project with Shane Parrish

CHAPTER

What Do You Think About Minimum Wage Increases?

A minimum wage increasehs, put people out of work. But i think jobs are very import and i would look for different ways to raise wages. Productivity is cumulative. It's won off. You know, ultimately it will be chipped away by inflation or other factors. And so how does that change in terms of a democracy? If you have a large voting block of people who who maybe don't save, and view the social system as being a safety net? Now, li, how do you foresee that playing out over the next hundred and 20, 30 years? Will you become more dependent on foreign capital? The nation is, in some regards, mortgaging its future.

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