Problems, problems, problems. I had to spend the whole weekend with only intermittent connection from my aging laptop to the web; the engineer finally came today to do some re-wiring (I make an "appointment" with Chunghua engineer: he arrives at an entirely different time and day). I'm now way behind schedule with work and might have to pull an all-nighter tonight to catch up. n the meantime... Turton. This is how the turn always plays out with him...
Turton: "Some bullshit".
Turton: "Uh, ah that thread is closed."
Typical. His two latest claims are (a) that minimum wages are set low by governments because they have the effect of pulling down other wages "across the board", and (b) that this is therefore a transfer from the poor to the rich. Note that the second claim depends on the first claim, so if the first claim is false then the second one must also be false.
And the first claim is obviously false; the number of people in minimum wage jobs tends to be a very small percentage of overall employment, so any effect the minimum wage rate might have on other wages via reducing demand for labour at slightly higher rates (never mind much higher rates) is likely to be negligible. Secondly, nominal wages are famously sticky anyway, but over the long-term must change in accordance with changes in supply and demand. Now there is no shortage of government policies and interventions that affect supply and demand for labour at different wage rates, but that's quite a different thing. The idea that a low minimum wage is some kind of plot by "the rich" to hold down wage rates "across the board" is just risible. I mean, he might as well just come right out and accuse the KMT of controlling the weather...
And yet... attentive readers will also note that he hasn't said a single word about the IPCC's 5th Assessment Report yet. Neither has the Timid Times, which will no doubt continue to publish scaremongering articles about impending climate catastrophe to explain why we must fork over cash to companies that the editors families and certain DPP people no doubt have bought stocks in.