In a word: No.
But more broadly, they do not have a clue about economics at all (or are charlatans who know better but play to a voting base with no clue about economics). The left is an alliance of evil charlatans and the good-hearted, but clueless about economics.
Maybe it is time for those advocating for an unjustified increase in minimum wages to show us how adept they are in identifying sources of additional income to pay for the higher wages.
Where are the journalists to ask these simple questions? It will certainly smoke out the elected officials on their sheer ignorance of basic economics and free enterprise.
The sheer and absolute ignorance is appalling, as is the apathy of the low knowledge voter.
Do any of our schools teach anything about the economics of free enterprise?
“Do the socialists have a clue on what are the economics of free enterprise?”
No. The new gal on the city council (Socialist party) was talking about this. She argued that the waiters would still get tips. Something like “Because the owner will be paying the higher wage. They don’t pay the tip - the patron gives the tip.”
The conservative talk-show guy was going after the point that she just wants to punish the owner. I was yelling at the radio “The owner doesn’t pay the waiter - the customer ultimately does!!”
A local pizza restaurant closed up - the cost of ingredients was going up and up. And the price got too high, and people couldn’t afford to go there as much. And the owner was saying how when he had to raise his minimum wage, he had to raise the other’s pay as well as incentive. (And raise the price of pizza).
A year later that spot is still empty on the little strip mall.