Wednesday, April 06, 2016

Economics in the Golden State

You've probably heard that California law now mandates sequential increases in the minimum wage until it reaches $15/hr in 2022.  What you might not have heard is how such economic decisions are reached here in California:
Brown, traveling to the state’s largest media market to sign the landmark bill, remained hesitant about the economic effect of raising the minimum wage, saying, “Economically, minimum wages may not make sense...Morally and socially and politically, they (minimum wages) make every sense because it binds the community together and makes sure that parents can take care of their kids in a much more satisfactory way.”
We figure out what it is we want to do, we do it, say it's the "moral" thing to do--even while admitting it doesn't make sense.  Great.

1 comment:

Pseudotsuga said...

My mind boggles at the stupidity of that statement...It doesn't make sense economically, but we'll do it anyway becuz SOSHUL JUSTIS! is more important than, y'know, spending public funds wisely.