/sci/ - Science & Math

>>3015028

1) This has nothing to do with Socialism. You don't know what that word means.
2) There are negative and positive outcomes to almost any economic act. The relationship between these is not necessarily linear. Increasing something up to a point will have a greater increase in welfare than increasing it further.

More importantly, a respectable argument can be made for minimum wages increasing economic growth and job numbers (at the risk of inflation). Increased wages within the population generate increased aggregate demand, thereby generating an incentive for firms to produce more (standard supply and demand) to supply this new demand. As a result, more workers must be hired in order to produce higher quantities of goods.