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Jimmy Dore – SHOCKER: Minimum Wage BOOSTS Employment In Seattle

Summary:
Economists and conservatives said that raising the minimum wage would cost jobs, but when Seattle raised the minimum wage more jobs were created. Does this phenomenon fit into the economists equations?Physicists say the universe can be explained by maths, but a documentary I recently watched said that not everything in the universe can be explained by mathematics, maybe because some things are far too complicated.The weather, the stock market, and even boiling water are too complicated for mathematics to describe, they said in the documentary - I guess they mean predicting where the bubbles will occur in boiling water. It seems that the economy could also be far too complicated for mathematics to fully describe. [embedded content]

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Economists and conservatives said that raising the minimum wage would cost jobs, but when Seattle raised the minimum wage more jobs were created. Does this phenomenon fit into the economists equations?

Physicists say the universe can be explained by maths, but a documentary I recently watched said that not everything in the universe can be explained by mathematics, maybe because some things are far too complicated.

The weather, the stock market, and even boiling water are too complicated for mathematics to describe, they said in the documentary - I guess they mean predicting where the bubbles will occur in boiling water. It seems that the economy could also be far too complicated for mathematics to fully describe.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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