He's like a dad talking to his naive daughter 😂

@fpsjman

8 жыл бұрын

True

@BecomBecom

8 жыл бұрын

Ahah she though she will educate schiff

@rmondave

6 жыл бұрын

Where do you find these misinformed dolts? Forcing high wages is a disaster in practice...

@firstnamelastname3280

4 жыл бұрын

Jcorb but he’s not against Costco doing that. He’s against a government mandate that forces employers to do it. If an employer wants to do it on his own free will and he does the math and calculates that the motivation an employee gets from a pay raise increases his bottom line, then he’ll do it. The government shouldn’t mandate it

@anthonypeet6182

4 жыл бұрын

@Jcorb He said that executives hike wages not because of the law but because of skills, which if it comes to Costco, executives realized their workers earned a higher wage through improvements in the company's bottom line (earnings). The hypothetical evidence he used is exactly how employers think. I employ people and I dont pay ANY of them minimum wage because of what they bring to the table. If they brought less than the minimum wage it means i would be losing money and therefore I would not hire them. Its very hard to know how much Costco would pass on from its higher costs (wages) to prices because that depends on market share lost to competitiros, but the argument that prices would increase is correct.

Valley Girl Economics.

@devbaweja1

5 жыл бұрын

Gold!

@Liveitlarge247

3 жыл бұрын

aka VaGE

@alexnezhynsky9707

3 жыл бұрын

Valleynomics

@johntrojan9653

3 жыл бұрын

Like Aaawesome, M'on !! ""🤙"" !!

hahaha peters face, as she explains why employers love to pay higher wages

@gauravmahajan5094

7 жыл бұрын

"the best haircut u ever had"

@gauravmahajan5094

7 жыл бұрын

10.60...based on history n science...lol

@actualideas8078

4 жыл бұрын

gaurav mahajan Hahaha dude hilarious on so many levels

@walterdraper6630

3 жыл бұрын

LOL his face got so red.

@theTeflonDon1

2 жыл бұрын

Also when she first mentioned community College hahah.

She couldn't be more wrong. Emotions don't create jobs

@ps123fan

2 жыл бұрын

emotions cause us to do stuff, influence stuff, so emotion do craete jobs in that sense, but we should be able to create a better, more including job market and society kzread.info/dash/bejne/mI6lpq-Rk5DNl9Y.html

Yeah Peter Schiff is a financial genius. I would think critically before taking a contrary position to him.

@gauravmahajan5094

7 жыл бұрын

love to see him debate chomsky or soros.....we will reach a new layer of truth

@sixsix7minus1

6 жыл бұрын

Not a genius, just not ignorant. The masses are dumb on average.

@juanfelipe8484

3 жыл бұрын

@@gauravmahajan5094 lol on economics

I'm going to go ask my boss Monday if he can increase my wages so that I can be more productive!

P.H.D. in economics, lmfao!!!

@johnhoward8491

3 жыл бұрын

thats where school gets you lmao

@patrickbateman783

3 жыл бұрын

God save us 😢

@sterrshow5016

2 жыл бұрын

Shes a teacher too good god

@bradfordlangston836

Жыл бұрын

Oh my God

If only Catherine could see Seattle's job market now.

@patrickbateman783

3 жыл бұрын

Hi 2021

@patrickbateman783

2 жыл бұрын

@Xtrawuzzi 😂🤣😂🤣😂🤣😎👍

@1986tessie

2 жыл бұрын

@Xtrawuzzi I love it when a comment makes me belly laugh.

This chick is so misled. Keynesians make me lol.

@david86david

10 жыл бұрын

Can you provide one historical example of a market economy that developed independently of a highly protectionist state?

@elijahrivera2858

3 жыл бұрын

@@david86david America late 1800s and 50s through late 80s

@TheOtherCaleb

3 жыл бұрын

@@david86david Literally every state in history has accrued wealth through the market.

Peter Schiff's books should be made part of school curriculum all over the world.

I almost can't believe that this woman is serious... I feel like this whole thing is a parody and she is a higher actress. Her logic is so off.

"she doesn't understand her own point"

large corporations should want a higher minimum wage, to price the small businesses OUT. The problem is undocumented workers

@juanpablomorbelli8167

7 жыл бұрын

That's what i was thinking when she brought up the ceo of Costco, of course he wants higher mandatory min wage

@Caseyw462

7 жыл бұрын

Large Corps do want a higher min wage. Walmart lobbies for it.

@Jake-pf4kv

7 жыл бұрын

Jacky Luu and then they need to give them a raise, to keep good ethics

@TeaRex97

7 жыл бұрын

No, that would drive unemployment up. Unemployment means less people to purchase their pizza.

@fightfannerd2078

7 жыл бұрын

you got a point there Peachy

It's interesting to see how she dodged the "hair cut going up in price" question. "I don't understand where you're going, but I'm just going to do everything I can to change the subject". That is a GREAT lesson in debating. She did that flawlessly. She made it seem like Schiff was going off on a tangent, and then prevented him from making his point. She knew DAMNED well where he was going.

@david86david

10 жыл бұрын

Schiff never once responded to her factual claims. His straw men sound like tangents when real world evidence is presented.

@EvansEasyJapanese

10 жыл бұрын

David Steece If she would have bothered answering his questions, you would realize that he was, in fact, addressing her "facts". Facts can easily be lies. There's a fantastic book to read, "How to lie with statistics", that explains the most common methods. If you listen to her, her 'facts' follow, if I'm not mistaken, 3 of the methods outlined in the book: cherry picking, false premises, and 'averages'.

@crazycrazy-vr9hj

3 жыл бұрын

@@EvansEasyJapanese I always like using the analogy of doctor to counter people who stuck so closely to "facts" without their own rational thinking. You shouldn't trust a doctor because he is a doctor, there are bad doctors and good doctors out there.

This woman keeps going back to the point that higher paid workers are more cost effective in the long run because there is less turnover, etc. And that almost certainly is true. However, what she is missing is that it is not the high wage that produces the low turnover, it is the lower prevailing wage at competitor companies that causes the low turnover for the company that pays higher wages. Meaning, there is low turnover at the higher paying company because the employee does not want to lose that job and enter the workforce and risk replacing that job with the lower prevailing wage at a competitor. The higher paying company will lose this competitive advantage if the government raises the minimum wage to match what was their higher wage. The employee will no longer have the same incentive to stay at any company because he can enter the workforce and find comparable pay because every competitor now pays that same higher wage. Unless her point is that there will be job cuts and thus fewer available jobs overall as a result of raising the minimum wage. The employer could expect lower turnover at the higher minimum wage in that case because the employee will not want to risk entering a workforce and not being able to replace the job at all!

@austinbyrd4164

3 жыл бұрын

Absolutely god tier point

*Schiff:*Basic economic law of price and demand *Catherine:*Incoherent doublepseak I'm a brick wall fuck economic law government power spending stimulus *Schiff:*Basic economic law backed by data NO NO GOVERNMENT SPENDING INCREASED MINIMUM WAGE!!!!

@RocketmanRockyMatrix

9 жыл бұрын

Ben Baker Maybe Catherine should take a lesson in Economics from Walter E. Williams & Thomas Sowell.

@dannydeblasio883

7 жыл бұрын

@ben baker economic system is based on how much the financial sector can extract from everybody else. Your statement is false, and peter Schiff is an idiot. The lady in video is right insofar that consumer demand creates jobs. If you Adam smith's wealth of nations you will realize there is truth in her statement. Human beings cannot provide all the necessities they need in life which creates a demand for some else to provide it for them by saving them time and hardship. As a result, if human beings could provide everything that they demand there would be no economy or any business. Lower wages means more profits for finance, banking, real estate and insurance. It's asinining to hear dumb republicans argue against higher wages. Most of the profits is being transferred somewhere else. As a result, the people who actually live in where they buy goods and services have less money for other businesses which is why people are become poorer at the expense of people who do contribute nothing to the economy. Go read a book! Sincerely your idiot

My wife and I had a (live-in) full time maid at my house in the Philippines.....because she cost me $50/month, plus food and room. ....Her friends wished they had her job...they had none.

I think she has the perfect example of intellectual smoke screening: throw so many points at your opponent so that they can't respond. I like how Peter took a leaf blower to it.

Okay, I get it now. If you take out the minimum wage, then business can charge less on goods because they don't have to spend as much on workers. Since they don't have to do that, then the price of goods comes down and the dollar's value essentially goes up because goods cost less.

@butuh13

10 жыл бұрын

and people's ability to buy anything remains unchanged because they are paying their workers less.

@BOATRIGHTGOLF

10 жыл бұрын

Then the workers quit your quality of product goes down and nobody shops there anymore

@Lordivanthecool

10 жыл бұрын

No the price of goods is determine on the demand the more demand there is the more the price will go up to keep up with the demand. If the demand is low the price will go down on its own.

@astalavisitor

7 жыл бұрын

+Mike No, the workers will not quit, because we are talking about workers who are being paid the minnimum wage which is higher than what their *real* market value is. So basically, they wont leave the business, because nobody will hire them. In addition, the business owner can allocate the money given for the previously over-the-cost wages to the higher skilled/experienced workers in order to keep them in business. amirite?

@williemo44

6 жыл бұрын

Price of goods/products and price of labor are separate issues. One worker says he will do the job for no less than $20 an hour while another says he will do the job for $8 an hour and skill level is the same then the $20 worker will remain unemployed. For the product if one store sales the same product for $2 less than the competition his demand will be greater for that product and will probably need to hire more workers handle the busy customer base. Generally speaking the store that charges $2 less can do so because he pays his workers less.

I honestly thought her brain was gonna explode during the break...

@gauravmahajan5094

7 жыл бұрын

lol

@gauravmahajan5094

7 жыл бұрын

"the best haircut u ever had"

@gauravmahajan5094

7 жыл бұрын

10.60...based on history n science...lol

Peter makes a great point when saying, "then why not $11 an hour, or higher?". The point she was missing is that we have increased the minimum wage multiple times throughout history. Yet why do we have to keep raising it? Why are we always in this debate about raising it? Because prices rise when labor gets more expensive. Basic supply and demand, which she doesn't understand.

@tomasgomez9925

7 жыл бұрын

russ15doinwork No liberal understand this unfortunately...

@coopsnz1

5 жыл бұрын

Kills middle class , left winge about

@hagopmarkosian6124

5 жыл бұрын

russ15doinwork prices are rising more from inflation , sure prices will increase if we have to pay more for labor as well tho, but I the lion share is from inflation , I agree with peter wholeheartedly tho!

@eliascastillo1641

5 жыл бұрын

But she played the history and science card.

@florianruhstaller1730

3 жыл бұрын

We have to keep raising it because of inflation, but I agree there shouldn’t even be one. The minimum wage in 1960 was higher adjusted for inflation than the minimum wage today, but it’s more than a stretch to contribute the economic prosperity during that time to the minimum wage (Singapore is also a clear counter example but it would be interesting to see if they have strong labor unions that negotiate wages with employers I’m not sure about that). But also the minimum wage was specifically put in place to put blacks out of work in the south because they were employed more than whites and the white labor unions wanted an excuse to fire blacks and hire whites from their union at the minimum wage rate so her entire argument about how the minimum wage positively affects employment is simply false

Is she an economist? I find it incredible that she can't grasp the concept of supply and demand.What I find even more amazing is that she thinks she knows what's best for all these businesses, that when they set wages, they're not doing it correctly. It's actually hurting their business, according to her. But SHE knows what's best for the business and the employee, so she's willing to use the power of government and threat of violence to impose her own view of what she thinks works on paper, despite the fact that the business and the employee know better what's best for them. Liberalism truly is a mental disorder.

@gblargg

4 жыл бұрын

Worse, she thinks that a single minimum value is appropriate for the wide range of businesses out there. For some it will be well below their lowest-paid person, but for others it would price out half the people they want to employ.

@MrPooshpa20

3 жыл бұрын

Seems like the indoctrination of higher education really is effective...

@austinbyrd4164

3 жыл бұрын

@@gblargg Exactly, it's a one size fits all approach that simply doesn't work in many sectors.

@BlakeAlexander12

Жыл бұрын

*ques ‘Liberalism Is A Mental Disorder’ by Bryson Gray

I agree with Benjamin Franklin, ”People willing to trade their freedom for temporary security deserve neither and will lose both.”

Peter: explains a concept in a logical, understandable manner Catherine: "well, that's not actually the case"...

@codebro9728

Жыл бұрын

Peter: “If an employer has to pay more to hire an employee that wouldn’t reduce cost that would increase cost Catherine: well that’s not actually the case 😂😂

She must have gone to the same school of economics that aoc did 😬

she used the worst example with henry ford, henry fords workers were worth the amount they were being paid, why should the guy flipping burgers make the same amount as the guy building cars? and henry did it without a minimum wage! so how is that an example of how the minimum wage works when it only effects entry level jobs?

Sweet Jesus, I feel like she had no idea of the ambush she just walked into. I almost feel bad for her. She had and has no clue. She sounded like one of those typical politicians who, when backed into a corner, just spouts off talking points as if they have no comprehension of the words that are coming out of their mouth. The bottom line is if your economic theory has no logical basis in basic economics (his did, hers did not), then you're full of it. She can't explain the actual mechanics of how her option fits reality and human action.

@TheCarnivoreSoprano

6 жыл бұрын

Stephen Cacioppo great analysis

While she is entirely wrong, she's also very polite and articulated. Great debate.

17:23 is when Peter Schiff said enough is enough and proceeded to give this economist a lesson of her lifetime which demolished her full theory in all the years of study into oblivion by finally telling the truth! Way to go Peter! Way to go!

She's dead wrong, but is a nice girl who can have a good argument, listen, and learn something.

@annihilationHaven

7 жыл бұрын

I don't know, there doesn't seem to be any hope for these people. Once you're getting paid in a PhD program to come up with what is wrong, you're allegiance is to your employer, the government - aka the predator on everyone else. They believe progress happens by creating the conditions that maximizes pain for the masses. They don't bite the hand that feeds them. So they're even worse than predators, because even predators have clans that hurt each other, they're more like the mob, they would simply kill anyone who opposes them if the argument gained any traction.

@Somuchcooleronline1

7 жыл бұрын

Yeah, it's an interesting scenario. It blows my mind, but I'm sure that people like her are specifically handpicked for graduate school based on their cluelessness. It's just another negative effect of having the government in bed with higher education. It is extremely disconcerting like the second caller said though, especially for someone like myself who is an undergraduate in economics. What kind of crap am I going to have to put up with, and should I get out?

@dannydeblasio883

7 жыл бұрын

@howcin peter Schiff is wrong! Employers act in there self interest, therefore, an employer will only lower cost of goods and services through competitive markets which does not exist in the economy.

@dannydeblasio883

7 жыл бұрын

Peter is wrong because he only sees it from one dimension! When the cost of living goes up that demands higher wages, and is not compensated, the demand for production goes down because there is less money for consumers to buy products. Furthermore, the majority of people save less and invest less which makes markets less competitive. Most loans from banks go to only select few at the expense of others which shrinks the economy and creates monopolies. The shareholders and CEO of McDonald's does not consume in most places that it does business. As a result, by nature, it is a parasite to the economy. McDonald's is really a real estate company demanding more rent that hurts productivity because it is not spending any money. Trickle down economics does not work!

@christiansoldier77

7 жыл бұрын

danny deblasio our economic system is built on competition

I hate it when people rant and talk AT you opposed to having an engaging relevant conversation and talking WITH you.

remember, feelings over facts everyone

Education reform. We really need it!

It's a shame she's not on the right side, she seemed intelligent and well articulated when she wasn't being interrupted. Peter is a great guy, but he can get carried away at times.

@UnhappyConsoleGamer

8 жыл бұрын

+SwampFox No,she's not intelligent,she's actually a fuckin moron who doesn't have any idea how the economy works!

@crumdogy

8 жыл бұрын

Celso Junior Think what you like, but good luck inciting anyone to see reason with that hostile of an outlook.

@UnhappyConsoleGamer

8 жыл бұрын

+SwampFox I never do,because arguing with far left liberals about the economy is like talking to a wall:)

@Salakert

8 жыл бұрын

+Celso Junior At least a brick wall would make sense ;)

1:15 - 1:48 I can only imagine what is going on inside of Peter's head as she is spewing fallacy after fallacy.

BINDING minimum wages hurt the EXACT people it was meant to help: low skill workers. When you raise the minimum wage, to an especially higher level above the binding rate, causes employers to hire less, higher skilled workers, and more capital (machinery, robots) further helping high skilled workers at the expense of low skilled workers.

people need to read Henry Hazlitt

Raising minimum wage doesn't affect goods? There is a reason why Big Macs are not $1 anymore. They are $3 (triple the cost) and now Mcdonalds charges .25 cents for extra condiments? This chick is off her rocker.

@normanwestern9450

3 жыл бұрын

A lot of that is inflation

@austinbyrd4164

3 жыл бұрын

@@normanwestern9450 Inflation, at least under today's metrics, is simply a rise in prices. How that rise in prices *happens* is different. It can be, like I assume you mean, a loss of purchasing power from more money in circulation. It could also be from regulations such as minimum wage.

I know someone in fast food who believes they should get paid more, but it's hard to explain to them that fast food work is low-skilled, and nobody is going to pay top dollar for someone to flip hamburgers!

Saw a mirror to this interview and found it really helpful. Thanks for the insight Mr. Schiff.

I feel sad for her

She has a bad tooth to gum ratio.

Does it not occur to her that Costco is lobbying for a higher minimum wage because it works in their business model but not their competitions??????

One issue I see is, how do you live while learning new skills that pay only $2? Yes you learn a skill but how do you pay to live? I agree with the concept but I think it's an important question to ask.

@billnyeishigh8650

5 жыл бұрын

Because that will allow businesses to compete for labour he even said it. People won't work for you if you only pay 2$ you'll have to pay more

Either way, It's a lose lose situation. I wish people would grow some balls and stop working for these greedy corporations.

@cmbosah

7 жыл бұрын

Greed is good. It's the thing that makes you wake up the morning and go to work. Because you want more for yourself and your family. If you remove greed then we are fucked because we are in heaven. Heaven is where slaves belong. I.e you work at the behest of some idiot who has control over you. As long as we are focused on reality, greed is good. When you get into your local grocery store, you seldom run out of beef, bread, milk...do you think that the farmers bust their ass to make sure that that beef makes it to your fridge because they love you? They do so through their greed and it feeds their bank account and the meat ends up in your fridge and eventually in your dinner plate. GREED IS GOOD...get your head out of your ass and enough with the self-righteous bullshit.

@matthew0341

6 жыл бұрын

DE ORACKLE buddy you just made my day.

@coopsnz1

5 жыл бұрын

Small business owners aren't greedy , This is democradic socialism in Australia 45 yrs , try to bring lower class up , end result killing the middle class

@MohammedAB2030

5 жыл бұрын

You got it wrong capitalism is best thing happened to humans. Government are the burden.

The contempt for working people on display here is chilling.

@Bruce_Peters

9 жыл бұрын

The contempt for freedom on display here is chilling.

@butuh13

9 жыл бұрын

Bruce Peters You mean the freedom of corporations to exploit struggling working people of course...

@Bruce_Peters

9 жыл бұрын

No I mean the federal government, the largest "corporation" the world has ever seen in history, exploiting the entire country by dictating how we manage our affairs. Are you in favor of tyranny? Keep letting the central government grow, dude. Oh and thanks a lot for your votes. I'm sure your grandchildren will appreciate it.

@butuh13

9 жыл бұрын

Yes yes, the minimum wage is "tyranny". You are such a pathetic whiner. And of course you are clueless about corporate tyranny....

@ManOfDeath567

9 жыл бұрын

googlefuckedupyoutube And YOU are clueless about government tyranny.

I'm embarrassed for Catherine, she just can't think logically.

@kubabooba548

3 жыл бұрын

She's a woman.

Having a high minimum wage is a fantastic idea, if that's where you are staying the rest of your life. We should get rid of minimum wage laws, and pay people based on what they are worth.

If raising the minimum wage creates prosperity and low turnover rates, then why don't we raise it higher $20 or $30 an hour. Crickets on Catherine's side. The free market sets the price, not government regulations.

She's not too bright. Paying your employees more leads to less turn over because OTHER EMPLOYERS ARE PAYING LESS. If the minimum wage raises, then other employers are paying the same. Your back where you started, just with a higher cost of labor.

He was respectful I feel. He is very personable.

Cost savings from employee retention are largely unrecognized and untapped. Most managers take churn as a cost of doing business. But to suggest raising the minimum wage would pay for itself in lower turnover seems like a stretch 🧐

she said peter is talked "theoretical" and she is talking "history and science"...that women is INSANE.

It is scary when people, who never had a business, speak so confidently about economics.

I think Catherine won this debate, because she got a free education from Peter !

Another fun fact Peter... if we were all slaves, we'd all have a job too haha

One of my favorite Peter Schiff clips ever

Manufacturing jobs are the best vehicle for on the job training, 28 years ago I started on an assembly line for $7.25 an hour, I’m now national sales manager. Dozens of the men I started with went on to QC, R and D, IT technicians. Hell even my VP/General manager started as a traffic manager in shipping. This is the opportunity we lost for our young people today when we exported our production floors off-shore.

Back in college i took a job at a sushi restaurant and got paid $5/hour but i got free meals. I worked hard and learned to deal with people on the job. Then i got a bigger share of the tip pool and more hours on the weekends and overtime. Plus if i had to pay for my own food, i had to go get food and paid taxes on those food and gas for more trips. I learned how to deal with people more nicely, changed my attitude for the better and became more confident dealing with people. Peter is right! :)

Love, Peter! His expressions say it ALL :)

Yup, she never considers the unseen, unintended consequences. Well put, sir.

I love when she brings up the post WW2 boom. As if the world being in complete rubble didn't have anything to do with it. Sure there is no reason we can't go back to that, let's start WW3!

I took an internship in a local accounting firm. My college told me that I have to pay for credit for this internship. The firm said they won't "hire" without internship because it is against the law, since they didn't pay me any wages for this internship. I didn't earn any money, but I paid money to my college. NONSENSE.

6:43 any time someone says "I'm not really sure where you're going with this" they're saying "I know exactly where you're going and it's too good a point for me to argue with"

How does this women not realize that there is a HUGE difference between paying your workers well and minimum wage....

What scares me more than people wanting to raise the minimum wage is that they do not understand either side's argument.

For every 10 bucks that an employer gives their staff, an additional 20+ dollars are spent on employee overhead. Many small business owners already feel like they've gotten the shaft, and they'd be right.

Phd. Poor, Helpless, and Desperate. Richard Kiyosaki. Peter, thanks for the information.👍👍

I love the stuff that Peter Schiff says and the way he explains it, but god these debates get annoying when people keep interrupting each other. I actually want to learn both POVs and look at them objectively.

As for less turnover 12:15... how the hell can that work when all jobs pay the same and according to her there are now more jobs to choose from. So ridiculous

Trickle down is 100% wrong, whether it's Keynesian Economics, or Reaganomics. And yes, plenty of conservatives still believe Reaganomics works. It blows my mind. They're basically two sides of the same coin. Conservatives and Liberals both contradict themselves plenty.

I loved the haircut response too! Thanks for reminding me.

Yes, how insane it must be to want everyone on the planet to have a chance at a decent life instead of just an elite few.

He should've countered her point on lower unemployment rates by asking what the change in Labour force participation was. That would've spoiled her argument real good.

She forgot that fewer people get hired in order to cut costs, employees are worked harder to make up for it, and there are fewer jobs to go to.

A big part of the problem is that the studies that are cited by minimum wage proponents in support of their position are often fundamentally flawed. (Perhaps most notably the New Jersey / Pennsylvania fast food study.)

It is well established that this is a country with majority rule, and minority rights. It takes a certain amount of education to be able to walk that fine line with understanding.

yes, but the question is - why it's cheaper now and was not cheaper before? ANd why people cannot start manufacturing here in the US?

Peter was kind of getting punched there, until about halfway through, - he just turns on the rocket jets and destroys her arguments. 😂😂😂

Here in France, youth unemployment is over 25%. In Germany, it's around 7%. A few hundred km apart, comparable levels of education. We have brutal minimum wage on this side of the frontier, they don't.

The reason she doesn't have a maid is that she has invested capital in a washing machine and a dishwasher. This is exactly the same as Ford investing in robots.

And government is not a Hedge Fund: it's an institution given authority limited to defending rights & Liberty.

God bless you!

I work in the gov't and we get inflicted with many of these fantasy job and pay concepts. The end result is that it is nearly impossible to get rid of the useless, shy of them commiting a crime, in a timely manner. People don't magically gain a work ethic just because you pay them well. If anything it makes them even harder to improve since they are comfortable in their situation.

This is why we get out of university and everyone asks for a degree and 3 to 5 years of experience for the minimum wage who doesn't allow you to even live independently. From Portugal.... God what are we doing? Where's the common sense

If the host had been that guy named Matt Dillahunty, he would have responded: "This is my show and you are not gonna preach on my show, Good.Bye!"

Peter hires people. Catherine doesn't. Why should we listen to Catherine on how hiring works?

You agree with the woman being interviewed that consumers should get more money because they're more likely to spend it and "help" the economy. Now you state that Australians must save more because the earn more money. What a well thought-out response...

Good job Peter.

Peter you da man!!!!! Love ya! Just love ya! You bet I'll buy something from your firm, when I can!

It’s 2019. I bet Cathy must feel extremely dumbfounded. Ever since they raise the minimum wage in California they’ve been cutting back on hours.

Memories of being the only one at the socialist discussion trying to say its all about supply and demand...needless to say I got roundly booed but was never the happier. As my alma mater's founder,Thomas Jefferson, said "in matters of principle stand like a rock".

If higher wages = higher productivity then lets make the minimum wage $1000 an hour. Then productivity would be the best in the world!!! Give a McDonalds worker $1000 an hour and he can make 100,000 Big Macs an hour and then that McDonalds would have 100,000 customers an hour. Imagine if they had 10 employees, that would be 1 MILLION Big Macs and hour sold!!! McDonalds would become the highest market cap company in the world!!! Wow this is so amazing!!

If everybody is paying minimum wage, then how does it increase your incentive to stay at any particular job. The argument was that it would be too expensive to leave your job. But if the other jobs pay at least as much then there really is no opportunity cost to leaving. This logic reminds me of the guy who got caught out in the rain, and hid under a tree. They told him soon all the leaves will be soaking and then the water will start dripping on to you. But he replied "I'm not worried. There are lots of other trees to hide under."

peter this is your best video or one of the best!

I am a small business owner. What you said is true for very small businesses. Larger businesses invest in the company for tax credits. But they can only invest so much before they get nothing in return. Beyond that the extra money goes into the payroll. Large businesses are very good at tilting the scale way into their favor.

"she has no business being on phd track"...lol

back then there wasnt many big conglomerates that can sway the labor cost. labor cost is not just clearcut econometric computations, it is also the effect of lobbyist buying politicians to peg the wages low (by not allowing the wage adjust to the current productivity), so big corporations can pocket the difference.

Say it with me Catherine, “correlation does not equal causation”. “Back when we were prosperous the minimum wage was high”...and? During a time of prosperity the minimum wage is completely irrelevant. It’s like saying the 91% tax rate, that no one paid, sparked economic growth. So stupid.

"Tell me Catherine, how slippery--in dollars--is this slope we're talking about here?"