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Open thread June 19, 2018

Dan Crawford | June 19, 2018 9:05 am

Tags: open thread Comments (2) | Digg Facebook Twitter |
2 Comments
  • Denis Drew says:
    June 19, 2018 at 5:32 pm

    Fast food ordering kiosks shouldn’t cause loss of jobs overall.

    Say kiosks allow my local McDonald’s to lay off five, thirty thousand dollar a year ($15/hr) workers. Assuming the consumer prices stay the same that makes one hundred thousand dollars a year for the owner and the workers who are left to split (the latter more likely if they have a union).

    Newly flush employer and employees in turn spend that money causing in turn (the equivalent of) employing five thirty thousand dollar a year workers somewhere else. Money never stops moving.

    But, you say, labor advocates are forever emphasizing that wages are only a fraction of the price of products – ergo, you claim a small price increase can feed a large wage increase (more dollars for fewer hours happens). So, how many jobs can the hundred fifty thousand create?

    Let’s take a kid’s lemonade stand. One kid spends all his time hawking his wares; he buys his drink from another kid who spends all his time making lemonade with lemons he buys from a kid who raises and delivers lemons. Think of a pin factory. 🙂

  • EMichael says:
    June 20, 2018 at 10:53 am

    Hey, PGL.

    Do you know what is going on at EV?

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