tag:blogger.com,1999:blog-3758330678390419129.post350980794434674575..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: The Systematic Errors in Thomas Piketty's New BookRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3758330678390419129.post-11914247066261952472014-04-23T00:37:55.786-04:002014-04-23T00:37:55.786-04:00Government cannot "increase the minimum wage&...Government cannot "increase the minimum wage" any more than it can "raise taxes." All it can do is ban voluntary employment at less than a fixed minimum rate, in the first case, and raise tax rates in the second case. Whether such actions actually result in higher wages or increased taxes is purely a secondary phenomenon, often with the opposite results than intended. Ask the Alan Andersenhttps://www.blogger.com/profile/09144313758560375165noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-16118499423363270402014-04-22T19:50:32.547-04:002014-04-22T19:50:32.547-04:00-- Piketty’s analysis of the advantages of increas...-- Piketty’s analysis of the advantages of increasing the minimum wage neglects negative employment effects on low-skill individuals. He states that increasing the minimum wage lowers inequality at the bottom of the income distribution by raising the pay of low-income individuals. --<br /><br />Ok, the guy is a charlatan, an economics ignoramus. Why is his book No.1 in Amazon.com? Maybe because OldMexicanhttps://www.blogger.com/profile/16111465436836633221noreply@blogger.com