M. R. JORDAN
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Minimum Wage Wars: The economics of oranges, bananas and kimchi

3/11/2015

 
Oranges excluded part time workers. Oranges are unfair that way.
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Group A: All the people at or below poverty level (roughly $7.25 an hour) represented below by one orange.


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Group B: The working class (roughly $15.00 an hour) represented by two and 1/6 oranges.

The Wall: I think minimum wage needs to be raised to two and 1/6th oranges.
Me: What about the people making two oranges?
The Wall: Hugh?
Me: When you make changes for one group, don't you have to consider the impact on another group.
The Wall: No, no. If group A and B have 2 and 1/6th oranges, then they can buy the same amount of bread. That's fair. Fair is good.
Me: So, group and and be become the same, what about groups C, D, E and F.
The Wall: What?
Me: Lets say group A represents 15 people and group B represents 25.  Let's also say that A and B have combined, so that 40 people people now have two and 1/6th oranges. How is this different from growing more oranges?
The Wall: Hugh?
Me: It's like this, B used to be able to trade their oranges for 100 bananas.
The Wall: That's the point. Now both groups A and B can get 100 bananas.
Me: That's assuming the cost of bananas don't go up, which based on the laws of supply and demand, they would.
The Wall: Well, I guess the price of bananas might go up for a short time, but the banana growers will grow more bananas to meet the demand and make cost of bananas cheaper.
Me: Why do the banana growers want to make the cost of bananas cheaper?
The Wall: Because they can sell more.
Me: Does the cost of bringing bananas to market change?
The Wall: What?
Me: The market price of bananas is determined kind of like this: The cost of materials + cost of labor + the cost of harvest+ the cost of transportation to market + reseller (like Wal-Mart) costs which include electricity, water, toilet paper for the public restrooms, cashiers, stock-men, managers and all the other things.
The Wall: All that goes into the cost of oranges?
Me: We're discussing the cost of bananas, but yes. All those things and more.
The Wall: Bananas and oranges are confusing me now.
Me: Perhaps, then its best to leave how many minimum oranges a person is paid up to 
The Wall: The politicians!
Me: I was going to say the mathematicians.
The Wall: Those people are boring. They're all numbers this and numbers that and blah, blah, blah when I really just like the idea of more money.
Me: Me too, but you know that old saying, be careful what you ask for because you just might get it? Well I live in South Korea. I get paid just over two million won a month and all those zeros don't mean I can buy more bananas.
The Wall: Why not Kimchi?
Me: Why not indeed.




Today is procrastination day

3/1/2015

 
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Today is procrastination day/ who blew up the kitchen day (because my kitchen always looks like a flour bomb exploded on delicious pie day)/ delicious pie day. Flavor: apple. Though I did seriously ponder the merits of  pumpkin or forgoing pie altogether for blueberry muffins. But my friends gave me some apples last week and I didn't want them to go bad and I had forgotten to take them-- the apples, not my friends-- with me on Friday when I went horseback riding-- poor horses-- so I made two apple pies, yum.

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