tag:blogger.com,1999:blog-9612609.post45961983140947155..comments2023-09-29T06:58:20.125-07:00Comments on Badtux the Snarky Penguin: Pricing employmentBadTuxhttp://www.blogger.com/profile/01345749557330760251noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-9612609.post-86545788416870632432010-02-28T11:57:49.895-08:002010-02-28T11:57:49.895-08:00Well, bullshit is definitely part of the circle of...Well, bullshit is definitely part of the circle of life. No shit and no compost = no flowers or veggies.Sarahttps://www.blogger.com/profile/05592584406221528110noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-69878930784487160442010-02-26T20:50:29.086-08:002010-02-26T20:50:29.086-08:00There have been economists (probably Chicago, I...There have been economists (probably Chicago, I've lost the detail) here in the USA who, in the last year, have seriously put forth the idea that the unemployed chose not to work, just like Hayek, back in the day.<br /><br />It's amazing, the bullshit these people will delude themselves with.<br /><br />Gaaaak!<br />JzB the reality trombonistJazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-82232253418360873752010-02-26T09:23:14.526-08:002010-02-26T09:23:14.526-08:00The Great Vacation, eh?
I guess I need to go back...The Great Vacation, eh?<br /><br />I guess I need to go back and reread The Grapes of Wrath. And go back and re-listen to Woody Guthrie's Dustbowl Ballads. Clearly, I misunderstood EVERYthing. Matter of fact, it was by choice that my grandmother's family subsisted on hard-tack with lard smeared on it, before they left UT for CA. Holy shit. The delusions I was under all this time. Not to mention my grandmother, who was more afraid of starvation and of not being prepared for times of scarcity than the GOP is of taxes.Sarahttps://www.blogger.com/profile/05592584406221528110noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-20296554079404942012010-02-26T00:21:17.497-08:002010-02-26T00:21:17.497-08:00Gene, by necessity I simplify the model for a non-...Gene, by necessity I simplify the model for a non-technical audience. You are correct that there is a marginal utility number that applies at the edge where a lower wage might cause my employment to flicker between 6 and 7 depending upon wage. We are, after all, talking about a continuous function here, not a discrete function, and there can be some flickering in the edges as we attempt to assign discrete assets to a continuous function.<br /><br />However, in a perfectly competitive environment, I will need to keep my hours down to as low as my competitor across the street, or otherwise I will either a) accept less profit (and that isn't something that I, as a businessman, want to do, I'm in business to make a profit, not to be a charity!), or b) raise my prices above what my competitor across the street charges, in which case I lose business to my competitor. Over time, both my wage base and my competitor's wage base will approach the minimum needed to fulfill demand, otherwise I will be outcompeted by my competitor undercutting my prices. <br /><br />Now, you might argue that perfect competitive environments do not exist. And that is, of course, true, but for the purpose of this model irrelevant. <br /><br />- Badtux the Economics PenguinBadTuxhttps://www.blogger.com/profile/01345749557330760251noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-26666948985352308022010-02-25T23:40:43.500-08:002010-02-25T23:40:43.500-08:00"If I have a sandwich shop and I need six wor..."If I have a sandwich shop and I need six workers to meet my demand, that's all I hire -- period -- regardless of how cheap the workers are."<br /><br />Radtux, you seem to be ignoring the fact that there is no such thing as a simple "number of workers needed to meet demand." As wages change, different numbers of workers may make sense. At some wage x, I might hire someone to put flyers for my shop under doors to drive up demand, whereas at x + y I won't. At wage x I might work the last two hours of the night myself, whereas at x - y I will hire someone to work those hours. Wagerates affect how long it makes sense to stay open, when to buy machinery, and more.<br /><br />Your analysis would be stronger if you acknowledged these factors.gcallahhttps://www.blogger.com/profile/10065877215969589482noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-8731200175343791202010-02-25T17:26:29.975-08:002010-02-25T17:26:29.975-08:00Yeah.
Conservative are out of touch with the real...Yeah.<br /><br />Conservative are out of touch with the real world.<br /><br />Reality has a liberal bias. that's why it's always wrong.<br /><br />Shit!<br />jXb the reality trombonsitJazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-9612609.post-454218669172308982010-02-25T16:40:50.142-08:002010-02-25T16:40:50.142-08:00blue sky mine....<a href="http://www.youtube.com/watch?v=4EF8PBsJFMA" rel="nofollow">blue sky mine....</a>Ghost Dansinghttps://www.blogger.com/profile/15216056025402469120noreply@blogger.com