Jamie Radtke Open To Eliminating the Minimum Wage

From ThinkProgress, of all places:

This would be encouraging if I believed Radtke actually understood the economics of price controls. However, this just furthers my belief that she is taking positions for the sake of fitting the profile of Tea Party candidate:

There are times when the market will demand more than what the minimum wage should be, and then people are being underpaid.

The minimum wage is a price floor and thus only limits how low wages can fall. If the market equilibrium for wages is above the price floor, the minimum wage will have no practical effect.

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2 thoughts on “Jamie Radtke Open To Eliminating the Minimum Wage

  1. I’m not sure you’re being fair Chris. She was trying to illustrate a point about how the minimum wage doesn’t make sense when the labor demand is higher and damages things when labor cost doesn’t justify what the minimum wage is set at. Not an easy concept to explain to someone that is probably going to turn it against youmake you look heartless. The progressives have already been hitting her on it.

    Funny, they criticize her for saying it. You criticize her in nit-picking fashion for not being technically correct in explaining why it makes no sense in an economy where you can’t anyone to work for minimum. That and claiming she doesn’t mean it.

    Ok, the nit-picking is understandable. You get what a lot of people won’t on this topic. I don’t understand this line about her just spewing sterotypical free market rhetoric to court the Tea Party, Libertarians, and general people that believe in the Free Market. She has lead local Tea Party groups. SHE IS TEA PARTY! No need to pretend. It isn’t like you can only find video clips of her from this year. She’s defending a position on minimum wage that few people outside our circles will understand or accept, and you brand her a fake? It is kinda nice having candidates trying their best to appeal to us. Frankly, I’m not used to it. Just playing the political fakery game? C’mon Chris…

    I’m glad she got your attention, though. That’s the first step. She’d be a heck of a lot better than George Allen!

    • Jamie Radtke may very well believe the minimum wage to be a bad thing, and she would be right. But being right and understanding why you’re right are two very, very different things. She was right to criticize Obama on the Libyan war, yet she supports the Iraq and Afghanistan wars. Similarly, Democrats were right to criticize Bush on the Iraq and Afghanistan wars, but failed to hold Obama to the same standard. Both examples show that the ideologies each side hold is grounded more in political affiliation than solid, consistent philosophies and knowledge.

      The economics of the minimum wage aren’t difficult to understand for anyone who knows basic economics. But Radtke’s assertion in this interview indicates that she indeed doesn’t understand why she is right that the minimum wage is a bad thing. She is right that it prevents the market from adjusting properly, but she is wrong that it directly results in people being “underpaid” when the equilibrium price is above the minimum wage. You can’t be right and wrong about the same thing at the same time; that means you don’t understand the fundamentals of what you’re talking about. It’s okay not to understand it, but to take a position on a subject such as this without understanding it is typical of any other politician.

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