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1
zzyzzx
2014 May 23, 6:22am
zzyzzx
2014 May 23, 6:22am
I wouldn't compare before tax and after tax dollars like your calculation currently does.
2
dublin hillz
2014 May 23, 6:29am
APOCALYPSEFUCKisShostikovitch says
Rational economics is about baselining all wages on the expectations and assumptions of desperately impoverished ghetto rats.
Precisely, that's a true bottom up approach, everyone has a "right to work!"
In the book Freakonomics, the authors demonstrate the the effective salary of chicago drug dealer foot soldiers is $3.30 per hour. Additionally, their odds of suffering non fatal wounds or injuries are 1 in 2.4 and odds of being killed are 1 in 4. Thus, I believe that minimum wage for legit jobs would clear at less than $3.30 per hr due to "safety dividend." I propose that the clearing would occur at $1 per hour. The quality of work output would be a whole other subject however....