The intraparty disagreement concerns the magnitude of the increase. Basic economic theory holds that increasing the minimum wage will result in a decrease in jobs for minimum-wage workers. Faced with higher labor costs, employers may ask existing workers to take on more tasks; in some in…
“basic economic theory” also holds that resources increase regardless of physical reality, and that sales taxes are more regressive than a dead planet.
“basic economic theory” believes that anything outside of the monetized sphere of city walls can be ignored.
“basic economic theory” builds the walls where it wants them according to economists who never tell us there are too many economists and that they should be downsized.