Restaurant Workers Lose Their Jobs Over Newsom’s $20 Minimum Wage

Well then why aren't we all paid just minimum wage? Why don't companies just hire all homeless people. My frst jibs certainly didn't py enough to support me alone let alone a family and I never expected them to nor demanded they did. Lots of people don't need jobs that pay that much. If you want tonmke more then make your labor WORTH more.

Have you only made minimum wage all yoir life?

 

Not here in the USA by far free market supply side has done more for the most than when Keynesian demand side were tried. Give me some specifc countries where a strict demand side has done better.

 

I am at a loss to understand why it is so difficult to realize that both demand and supply are equally important for a thriving economy.

 

I may it clear that demand and supply are equally important for a prosperous economy that benefits all, not just some.

 

Market analysis precedes production. Market analysis is used to determine what will be produced with the hope that the market analysis is correct and consumers with the means will purchase (consume) the products. Production precedes consumption. QED

 

Economic demand is the result of production. Market analysis hopefully predicts accurately whether a product will be purchased or not. Production always precedes consumption. QED

 

You keep moving the bar, let me move it for you using you own metric then. Life precedes all of it. Feel free to keep wasting time.....

 

I haven't moved the bar one iota. Production always precedes consumption. This has been going on since life crawled out of the primordial oceans millions of years ago.

 

I did not say the job is worth less, I said the wage the employer gives the employee is worth less

just like the money you give for the phone is worth less, so you have to give more for the phone

works both ways

 

As I clearly shown you, eyes open now, demand is in the drivers seat unless government is subsidzing for specific reasons.

Consumption is the canard, a red herring unless clearly defined, in reference to production. You need to define terms before they are used for generalities and finalities. Is the consumption you are referencing of raw materials or of a finished product? Regardless, demand preceeds both in every free market. Supply driven demand always requires subsidies, likely government.

 

Market analysis determines what companies produce. Part of the economic analysis includes whether those surveyed have the means (economic demand) to purchase the finished products. Economic demand is the result of production - workers trade human capital for wages. In all cases production precedes consumption. QED.

Desire is not economic demand.

 

Oh look, the market analysis 'save me' goal post move again. Give it a rest, Life came first. Sorry, but that's reality.
Raw materials are consumed in production genius to produce an end use consumable, read 'em and weep, QED. Demand is free market speaking.

 

Market analysis determines what companies produce. That's basic stuff. Companies figure how to manufacture products using raw materials, capital equipment, and labor. All of this feeds into the cost of production. A profit margin is then applied based on risk and a decision is made whether to go into production or not. Econ 101. Production precedes consumption. QED

 

You clearly need to define terms before recycling your posts after they have been exposed as using red herring terms. So, give it a rest because Life came first. Sorry, but that's reality.

Raw materials are consumed in production to produce an end use consumable, read 'em and weep, QED. Demand is free market speaking and always comes first. Red herring destroyed again, QED.

 

I just defined the terms. It’s basic economics.

 

Link me to your defining them prior, thanks. Basic economics would make a distinction re consumption of raw materials vs consumption of final product, hence it's use is a red herring. QED, not rocketry. Keep reaching though, it's good. Demand is first in the free market, QED.

 

No it doesn't. Everything needed to produce a product is part of the price. That's basic economics. Demand is created by production as I have explained. How to those who purchase products pay for them. Production always preceds consumption. Econ 101. QED.

 

Yes it does, you are continuing to embarrass yourself unless you can link me to the post where you defining "comsumption " in the demand/supply equation. Demand preceeds production in every free market. Consumption could be of raw materials for production or of a consumable final product after production . Your use of consumption and never defining it is a rookie mistake. You are looking for a life line AND you can't link me to the post where you claim to have defined consumption, the red herring in your claims. I'm embarrassed for you to keep making such a simply mistake over and over. Demand preceeds consumption in ever free market, QED.

 

What? Materials, labor, and capital equipment is required for the manufacturing process resulting a product for sale.

Market analysis determines what a company decides to produce. Very simple to understand.

 

Consumption is the purchase of a product.

 

Thats not what I said. The same way that you hold the individual to the standard of "don't spend what you dont have", you have to do the same for the company. But in America, the company(if big enough) goes to the government for 1. Interest free loans or 2. Free subsidies to increase your market share

The Intel plant in Texas is the prime example. Why should the federal government (Biden), give free money to one of the largest companies in the country ? Why aren't we holding them to the standard we hold the individual too, "if you don't have the money, you don't get to buy the new plant" ?

 

So you falsely create demand for something that doesn't exist ?

Or maybe, as S&D dictates, create a better mouse trap and then you get the market. Any CEO in the country will tell you that

 

You "debate" position have been exposed to be out of it's league, market analysis is you moving goals, another desperate red herring, once exposed. Consumption can be raw materials consumed in production and also the consumption of a final product once produced, your failure to make that rookie distinction is game, set, match.

Nonsense, QED.
Raw materials can be consumed in production and a final product can also be consumed and does not require purchase.

So no prior link to your claimed definition then? That makes you premise, porus, a red herring and your position of knowledge a moot one.

Demand preceed all in every free market, QED. one can learn from their mistakes or be embarrassed and double down. Sad...

 

I have been consistent in my argument that production precedes consumption. And that economic demand is the result of production.

 

Consistency in a bad arguement without fully grasping the terms use in economics, as one example, causes your own confusion. Bottomline, consumption undefined is a canard, a red herring, much like your desperate pivot to market demand analysis. Demand perceeds ALL in a free market and comsumption could be in raw materials to product or a of produced final good for consumption Hope this helps. Demand is not production but preceeds it in a free market, QED.