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Northwest Voices

Seattle Times letters to the editor

May 5, 2014 at 7:04 AM

Minimum wage: Economics can’t explain all variables of a wage hike

The final two words of Maxford Nelsen’s guest column on the minimum wage caught my attention, specifically the term “dreadful economics” [“Does increasing the minimum wage stimulate the economy?” Opinion, May 1]

That pretty much defines the field of study of economics itself. This so-called social science attempts to apply the scientific method to an area that would require an algorithm of such complexity that even a supercomputer couldn’t manage it.

Too many things are left unexplained in choosing one isolated topic (for example, the minimum wage) in one isolated area (for example, Seattle) to study.

How does one take into account the inexplicable behavior of otherwise brainy tech workers who covet a marginally valuable house so badly that they bid the price up well beyond its worth?

Do those who are expecting a raise in their income when the minimum wage expect to better compete with the irrational rapaciousness of the gentrifying forces?

How does one put that in an algorithm?

Thomas Munyon, Marysville

Comments | More in minimum wage | Topics: economics, Maxford Nelsen, Minimum Wage

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