Lumifer comments on The Robots, AI, and Unemployment Anti-FAQ - Less Wrong

47 Post author: Eliezer_Yudkowsky 25 July 2013 06:46PM

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Comment author: Izeinwinter 01 August 2013 11:22:02AM 0 points [-]

Reality disagrees. The higher the minimum wage in a given country, the higher the labor force participation, - Ie, the percentage of the total population working goes up as the sums offered for their labor increases.

The effect you describe may be real, but if so it is extremely consistently swamped by the basic law of supply and demand. Offering more money for labor causes more people to work.

Comment author: Lumifer 01 August 2013 04:16:56PM 3 points [-]

The higher the minimum wage in a given country, the higher the labor force participation

I would like to see some data, along with arguments for causation and the direction of the causality arrow.