What is the dollar value of...

[Felch]

I've purchased love by the pill ($10-$20), friendship by the blunt ($5-$20), and wisdom by the tab ($3-$10), but I don't know where to get a hold of honor and spirituality. If you find out, let me know.

[KrazyHorse]

Are you people f*cking retarded????? If you are operating a mill, and the parish pays whatever the difference is between the wage you pay your employees and 3 shillings, than what is the point of paying your workers? If you are a worker, than what is the point of working if you are guaranteed 3 shillings no matter what?

So, it creates a floor on wages?

What's that called in today's labor market?

****ing idiot.

[KrazyHorse]

The fact that he couldn't see the similarity with minimum wages EVEN AFTER I DIRECTLY REFERENCED IT is hilarious to me.

You're a complete moron. You should probably accept that your thoughts/opinions are basically valueless, because they are unoriginal, ill-informed and ill-considered.

[Cort Haus]

I've purchased love by the pill ($10-$20), friendship by the blunt ($5-$20), and wisdom by the tab ($3-$10), but I don't know where to get a hold of honor and spirituality. If you find out, let me know.

Very good.

[curtis290]

The fact that he couldn't see the similarity with minimum wages EVEN AFTER I DIRECTLY REFERENCED IT is hilarious to me.

You're a complete moron. You should probably accept that your thoughts/opinions are basically valueless, because they are unoriginal, ill-informed and ill-considered.

You are COMPLETELY retarded. How is Speenhamland a minimum wage system? Our federal minimum wage is 7.25 an hour. If you are unemployed, you do not receive 7.25 an hour. You have to apply for unemployment benefits, but you're not guaranteed that kind of money, it isn't unconditional, and it runs out quickly. As far as businesses go, they are NOT allowed to pay you under 7.25 (unless you receive tips), and even if they did, it's not like the state would pay the difference. Since you clearly are a very dense person, I'll spell it out exactly for you.

If we had the Speenhamland system today and your employer paid you 3.25 an hour, the parish (it would be the state in this case) would pay you another 4.00 an hour. If you employer paid you 2.00 an hour, the state would pay you 5.25 an hour. If you were unemployed, you would receive 7.25 an hour from the state. Since you're such an expert in econ, think about how this would effect the natural mechanism of the labor market. People would stop working and get their unemployment benefits instead (remember, this was 19th century England, most people lived in poverty and there wasn't social mobility) since there'd be no incentive to work, and wages would drop to zero, because the employers would have no incentive to pay their workers.

The fact that you have been unable to understand this after two posts shows me that you seriously lack reading comprehension skills. I can't take you seriously for that. Stick to physics please.

[Al B. Sure!]

Was your self-worth so caught up in the idea that I would collapse in awe and realize everything I knew was wrong upon hearing the sophomoric insight of the OP?

No. This thread was about you, but not for you.

[Dinner]

Are you people f*cking retarded????? If you are operating a mill, and the parish pays whatever the difference is between the wage you pay your employees and 3 shillings, than what is the point of paying your workers? If you are a worker, than what is the point of working if you are guaranteed 3 shillings no matter what?

So, it creates a floor on wages?

What's that called in today's labor market?

****ing idiot.

In today's market we'd call he floor on wages the minimum wage.

[KrazyHorse]

You are COMPLETELY retarded. How is Speenhamland a minimum wage system? Our federal minimum wage is 7.25 an hour. If you are unemployed, you do not receive 7.25 an hour

Wow, ******.

similarity

It's not an economic equivalence, moron. Nobody claimed it was.

And it doesn't mean that the labor market "didn't exist" prior to that. It simply means that at the low end of the income distribution had some significant distortion in it (in the case of the poor laws as stated, it placed a wedge between marginal increases in employer pay and employee pay, while in the case of the minimum wage it places a ban on transactions)

Good ****ing Lord, you're stupid. Neither distortion means that the job market "doesn't exist"

[Darius871]

I've purchased love by the pill ($10-$20), friendship by the blunt ($5-$20), and wisdom by the tab ($3-$10), but I don't know where to get a hold of honor and spirituality. If you find out, let me know.

Easy:

Peyote and/or Ayahuasca -> Spirituality

Amanita Muscaria and/or PCP -> Honor

[flash9286]

If we had the Speenhamland system today and your employer paid you 3.25 an hour, the parish (it would be the state in this case) would pay you another 4.00 an hour. If you employer paid you 2.00 an hour, the state would pay you 5.25 an hour. If you were unemployed, you would receive 7.25 an hour from the state. Since you're such an expert in econ, think about how this would effect the natural mechanism of the labor market. People would stop working and get their unemployment benefits instead (remember, this was 19th century England, most people lived in poverty and there wasn't social mobility) since there'd be no incentive to work, and wages would drop to zero, because the employers would have no incentive to pay their workers.

Why do you assume people have no utility for more than 3 shillings? And you are completely ignoring that competition in the labor market would force wages above three shillings.

[KrazyHorse]

Precisely. There is a distortion and loss of labor supply at the low end of the distribution. Above that, the distortion becomes smaller.

Which is why the idea that the labor market "didn't exist" due to this is ridiculous. Which is precisely the point I made earlier...

[Felch]

Easy:

Peyote and/or Ayahuasca -> Spirituality

Amanita Muscaria and/or PCP -> Honor

Sounds about right to me. So it's settled. We can put a price on all of these things. Put that in your protein shake and drink it, ALBY!

[Kidlicious]

The commodification of land is a relatively recent phenomenon (a few centuries ago), one that tore apart the traditional fabric of society and laid the basis for the capitalist economy and the labor market (since there was no longer common land that people could raise livestock on or grow crops and survive, so they were forced to go to cities for work). At the time it was vehemently opposed by the general populace and the church, and of course was highly artificial.

This is an interesting line of thought. When society agrees to make a market for something it's really distributing power. Before land could be bought and sold though society already had a means of distributing power. The market just changed the way power was distributed. Of course you can't buy and sell real love, but you can pretend.

[Kidlicious]

I've purchased love by the pill ($10-$20), friendship by the blunt ($5-$20), and wisdom by the tab ($3-$10), but I don't know where to get a hold of honor and spirituality. If you find out, let me know.

If you would have got what you paid for when you bought the 'tab of wisdom' you would already have honor.

[Solomwi]

You are COMPLETELY retarded. How is Speenhamland a minimum wage system? Our federal minimum wage is 7.25 an hour. If you are unemployed, you do not receive 7.25 an hour. You have to apply for unemployment benefits, but you're not guaranteed that kind of money, it isn't unconditional, and it runs out quickly. As far as businesses go, they are NOT allowed to pay you under 7.25 (unless you receive tips), and even if they did, it's not like the state would pay the difference. Since you clearly are a very dense person, I'll spell it out exactly for you.

If we had the Speenhamland system today and your employer paid you 3.25 an hour, the parish (it would be the state in this case) would pay you another 4.00 an hour. If you employer paid you 2.00 an hour, the state would pay you 5.25 an hour. If you were unemployed, you would receive 7.25 an hour from the state. Since you're such an expert in econ, think about how this would effect the natural mechanism of the labor market. People would stop working and get their unemployment benefits instead (remember, this was 19th century England, most people lived in poverty and there wasn't social mobility) since there'd be no incentive to work, and wages would drop to zero, because the employers would have no incentive to pay their workers.

The fact that you have been unable to understand this after two posts shows me that you seriously lack reading comprehension skills. I can't take you seriously for that. Stick to physics please.

You need to rethink the employer's incentive under such a system, dip****.