tag:blogger.com,1999:blog-3263397606915581868.post7270190279879239051..comments2023-12-30T02:11:10.100-08:00Comments on Self-University: Addressing the Mal-Distribution of WealthCharles D. Hayeshttp://www.blogger.com/profile/17496818135931379312noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3263397606915581868.post-34455150583662548932014-04-07T08:48:57.039-07:002014-04-07T08:48:57.039-07:00This comment has been removed by the author.Charles D. Hayeshttps://www.blogger.com/profile/17496818135931379312noreply@blogger.comtag:blogger.com,1999:blog-3263397606915581868.post-89501114926323017822014-04-07T08:30:47.196-07:002014-04-07T08:30:47.196-07:00The initial raising of the minimum wage for the lo...The initial raising of the minimum wage for the lower classes does raise the living standard for them. However, it is the corresponding demand by the middle class for a wage increase that creates the damage. For example, if the minimum wage is $5 per hour and is raised to $6 per hour, then the living standard for the lower classes would be lifted. However, when the middle class demands a corresponding increase in wages, they don't demand a $1 per hour increase. Instead they demand a 20 percent increase for themselves. And since the middle class work in essential services and production, the living standards are lowered for the lower classes, and they are pushed farther and farther behind with each minimum wage increase. There is a difference between real dollars and percentages.Anonymoushttps://www.blogger.com/profile/06464585360212406565noreply@blogger.com