ECON ELLIOTT

Economist, Political Scientist, SHRM-CP, Criminal Justice reformer. University of Delaware, University of Arizona & CSUSB Alum. Opinions are my own. 🐻👇🌵

[ECON ELLIOTT @ECONELLIOTT]

@tlanderso @RockChartrand They are in competition with each other to sell their labor.
If there is too much, they ought to diversify their skills to something with higher demand & less supply of labor, so the price for that labor (wages) is higher.
It's very simple and requires ZERO gov interference‼️

[ECON ELLIOTT @ECONELLIOTT]

@tlanderso @RockChartrand Pretending Supply & Demand are not factors is silly.
Being highly productive at creating something no one wants nets $0.
Being good at creating something lots of people wants creates more $.
Productivity is a factor, but if anyone can do the job, competition forces wages down. 🤷🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@tonyannett You think SEVEN RECESSIONS in 30 years is good?🤯🤯🤯
A Renaissance of retardation in the economy? 🧐🤔
I mean, you're right that statist and socialist policies caused that, but I certainly would characterize those 30 years as good economic times!

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand Nope.
Clothing has never been cheaper!
The oligopoly market structure, featuring cars, oil, & diamonds, has the highest prices of all market structures.
Most things are in monopolistic markets (not monopolies).
Those markets have good competition with decreasing prices. 👍

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand Competition makes prices come down (increasing supply), not government mandates and regulations. 🤦🏻‍♀️
Competition prevents companies from charging excessive prices.
We need more people in business, not less.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand How would reducing profits help? 🤔
People are incentivized to create businesses, jobs, etc, due to profits.
Take away the profit motive & you take away half the economy.
Profits direct resources to more efficient uses.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand That's a public subsidy.
Some single woman who only makes $30 an hour, but has 6 kids, and no Baby Daddy, will still qualify for all kinds of bennies/welfare.
That's not her employer's fault for not paying enough!!!!

[ECON ELLIOTT @ECONELLIOTT]

@WhatRWeDoin1013 @TheHonestEvil @thatoriginalist @RockChartrand Is there evidence for this stat?
Only 30% of ALL Americans receive any sort of government assistance, so 40% of workers at the largest corporations seems VERY high.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand @Apple In the US?
Or somewhere $2 will buy something?

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple Who are they exploiting? 🤯

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple I don't know that company.
You look up the average wage vs. Local wages wherever they are.
I'm sure you'll find, like most American companies, that they pay higher than the average in their area.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand What subsidies is Starbucks getting? 🤔
Honestly, NO ONE should be getting subsidies. 🤦🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand That's 1.5 million of the 33.2 million, or 4.5%
Even still, if the corporation decides to spend its money buying back its stock, who cares because it benefits itself?
It's irrelevant. 🤦🏻‍♀️

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple Your argument is a non-sequitur.
Apple is one of the best-paying companies on the planet!!

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @WhatRWeDoin1013 @thatoriginalist @RockChartrand The business's money BELONGS to the owners!!!!!
98% of all businesses are small businesses.
Read up on what an S-Corp is.
Again, less than 1% of companies have public stock. This is a non-issue in a country of 350 million people and 32 million businesses.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand Do you know about scale? Do you know how much $20 trillion is vs. 'millions'? This is NOT a problem worth discussing.
Starbucks has high wages & fantastic benefits for the industry, including insurance & 401ks.
Why SHOULD they pay their low-skill, replaceable workers even MORE?

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple Not only that, but they wouldn't have the cash to innovate and market, which is what they do.
Therefore, they would lose MORE ground to independent companies, and likely go out of business within 5-10 years.
Then where do those 'living wage' jobs go?

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand @Apple Why would you only pay the assembler's double? Why not the manufacturers? Making it $1,000 to create?
Yes, that would double the price to customers, decreasing quantity demanded, and many of those folks would lose thier jobs in the end because they don't need to make as many.

[ECON ELLIOTT @ECONELLIOTT]

@TheHonestEvil @thatoriginalist @WhatRWeDoin1013 @RockChartrand They absolutely do NOT set pay for franchisee employees!!!!!!!!!!!!!!
Individual franchisees are SOLELY responsible for setting wages, managing hiring, and handling all payroll operations for their specific locations.