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Very Hot Topic (More than 25 Replies) Zero-Sum Game? (Read 937 times)
Jeff
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Re: Zero-Sum Game?
Reply #40 - Aug 13th, 2019 at 8:54am
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BobK71 wrote on Aug 12th, 2019 at 4:38pm:
But resources are not limited.  Natural resources maybe, but those are a small fraction of the total economic value we own today.

The total pie depends on how much work and ingenuity people choose to put into the economy.  That is why a good incentive structure is crucial.
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Jeff
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Re: Zero-Sum Game?
Reply #41 - Aug 13th, 2019 at 8:55am
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The Opposition wrote on Aug 12th, 2019 at 9:29pm:
I want to know how you feel about what's happening in South Africa.
Communists took over. It will, as always when communists take over, end badly.
  

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Jeff
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Re: Zero-Sum Game?
Reply #42 - Aug 17th, 2019 at 7:33am
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This is pretty clear evidence:

https://www.cato.org/publications/research-briefs-economic-policy/do-lower-minim...

The full title:

Do Lower Minimum Wages for Young Workers Raise Their Employment? Evidence from a Danish Discontinuity

See figure 1 for the answer.
  

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