Found this YouTube video in the comments on Gary Kasparov's Facebook post criticizing Bernie Sanders about socialism.......
Goes against what I often hear....... that minimum wage causes unemployment.....
But found it intriguing...........
More complicated as he admits.......
But worth listening to..........
bBx2Y5HhplI
https://www.youtube.com/watch?v=bBx2Y5HhplI
Longer version on TED
http://www.ted.com/talks/nick_hanauer_b ... on.ted.comNick Hanauer is a rich guy, an unrepentant capitalist — and he has something to say to his fellow plutocrats: Wake up! Growing inequality is about to push our societies into conditions resembling pre-revolutionary France. Hear his argument about why a dramatic increase in minimum wage could grow the middle class, deliver economic prosperity ... and prevent a revolution.
In May 2012, several online news outlets reported that Hanauer's March 1, 2012 TED talk[12] was not posted by TED Talks. In the short presentation he spoke about rising income inequality in the U.S., and the problems it may cause to future business ventures, as he feels that middle class consumers are far greater job creators than wealthy entrepreneurs like himself.[13][14][15] Thus he proposed the necessity for higher median incomes for workers rather than tax breaks for the wealthy, stating that if lower income tax rates for the wealthy really worked "we would be drowning in jobs", instead of unemployment being at current numbers.
Hat tip to Hocketing Dad elsewhere for posting about Gary Kasparov's comments