Spring Break
Teachers face off on economic solutions
Aaron Hedge
Issue date: 6/25/08 Section: News
"I think Americans are suffering from a massive lack of imagination," he said in response to an audience member who questioned the economic viability of raising the minimum wage.
Colorado has a minimum wage of $7.02 -- nearly $2 more than the $5.15 federal mandate. But Shields said it doesn't help.
Using the example of his own students, he said raising the minimum wage doesn't affect the price paid by companies on average to undergraduates.
"I asked all of my students if they work and most of them did," he said. "Then I asked them if they made minimum wage, and none of them did."
They all made more than the minimum.
"Economists are not good at talking about fairness -- that's not part of the vernacular," he said earlier in the presentation. To fix the problem that has been the subject of headline news for several months, Shields encouraged politicians to increase funding for higher education and reduce outsourcing.
"As a society as a whole, we have decided it's okay to have cheap stuff and put people out of jobs," he said.
News Managing Editor Aaron Hedge can be reached at news@collegian.com.
Colorado has a minimum wage of $7.02 -- nearly $2 more than the $5.15 federal mandate. But Shields said it doesn't help.
Using the example of his own students, he said raising the minimum wage doesn't affect the price paid by companies on average to undergraduates.
"I asked all of my students if they work and most of them did," he said. "Then I asked them if they made minimum wage, and none of them did."
They all made more than the minimum.
"Economists are not good at talking about fairness -- that's not part of the vernacular," he said earlier in the presentation. To fix the problem that has been the subject of headline news for several months, Shields encouraged politicians to increase funding for higher education and reduce outsourcing.
"As a society as a whole, we have decided it's okay to have cheap stuff and put people out of jobs," he said.
News Managing Editor Aaron Hedge can be reached at news@collegian.com.
Viewing Comments 1 - 1 of 1
Marie
posted 6/26/08 @ 6:22 PM MST
I am not surprised that this philosophy professor's answer to all of our economic issues, which I doubt he really understands, comes back to the government paying for and controlling more aspects of our lives. (Continued…)
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