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Comments on: Higher minimum wage – higher employment? http://www.tvhe.co.nz/2007/12/17/higher-minimum-wage-higher-employment/ The Visible Hand in Economics Sat, 23 Nov 2024 08:46:28 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Kimble http://www.tvhe.co.nz/2007/12/17/higher-minimum-wage-higher-employment/#comment-627 Tue, 18 Dec 2007 04:06:54 +0000 http://tvhe.wordpress.com/2007/12/17/higher-minimum-wage-higher-employment/#comment-627 Thanks, thats what I figured but I wasnt sure if I was missing something.

]]> By: Matt Nolan http://www.tvhe.co.nz/2007/12/17/higher-minimum-wage-higher-employment/#comment-624 Tue, 18 Dec 2007 00:17:00 +0000 http://tvhe.wordpress.com/2007/12/17/higher-minimum-wage-higher-employment/#comment-624 Sure. The monopsony wage (in this case) is the wage that is set by the firm when there is only one firm in the labour market, and a number of potential employees with no bargaining power.

The competitive wage is the wage that is set by the market when there are a number of firms and workers, and neither has any ability to set wages.

]]> By: Kimble http://www.tvhe.co.nz/2007/12/17/higher-minimum-wage-higher-employment/#comment-623 Tue, 18 Dec 2007 00:12:53 +0000 http://tvhe.wordpress.com/2007/12/17/higher-minimum-wage-higher-employment/#comment-623 Can I get clear defintions of monopsony wages and competitive wages?

]]> By: $12 minimum wage « The visible hand in economics http://www.tvhe.co.nz/2007/12/17/higher-minimum-wage-higher-employment/#comment-622 Mon, 17 Dec 2007 19:47:10 +0000 http://tvhe.wordpress.com/2007/12/17/higher-minimum-wage-higher-employment/#comment-622 […] minimum wage 18 12 2007 Following on from our post on the minimum wage yesterday, the government decided to announce an increase in the minimum wage to $12, from […]

]]> By: Matt Nolan http://www.tvhe.co.nz/2007/12/17/higher-minimum-wage-higher-employment/#comment-626 Mon, 17 Dec 2007 05:06:17 +0000 http://tvhe.wordpress.com/2007/12/17/higher-minimum-wage-higher-employment/#comment-626 All good notsneaky. Your concept was really good, it was so clear and I had never thought of it that way before. It seemed like a whole new revalation to me, which was very exciting.

]]> By: notsneaky http://www.tvhe.co.nz/2007/12/17/higher-minimum-wage-higher-employment/#comment-625 Mon, 17 Dec 2007 04:11:15 +0000 http://tvhe.wordpress.com/2007/12/17/higher-minimum-wage-higher-employment/#comment-625 Thanks!

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