tag:blogger.com,1999:blog-2974725225114485009.post7464270048926428053..comments2023-10-20T07:24:00.534-07:00Comments on His Story is Bunk: Choosing from the Chinese menuPatrick Sullivanhttp://www.blogger.com/profile/14948365865741313524noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2974725225114485009.post-64528385799900818042014-10-24T18:26:54.609-07:002014-10-24T18:26:54.609-07:00In the US market, 4.3% work at or below the minimu...In the US market, 4.3% work at or below the minimum wage. Say it is 10% in China. A 1% decrease in overall employment must be concentrated in that group.<br /><br />As a broad estimate, that means a 10% increase in the minimum wage leads to a 10% decline in employment among those affected by the minimum wage. That is not a minor effect. Total wages going to the minimum wage group would have remained about the same, but of course 10% lost their jobs.<br /><br />This is really helping the poor to climb the laddar of prosperity. If China raises the minimum wage by 30%, I am sure we would see even stronger positive results. (sarc)<br />Andrew_M_Garlandhttps://www.blogger.com/profile/02855052302054611917noreply@blogger.com