SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Ask Michael Burke
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: shadowman who wrote (91769)8/22/2001 12:05:04 PM
From: Don Lloyd  Read Replies (3) of 132070
 
Dennis -

One factor about minimum wage (living wage) that free marketeers never seem to address is the effect on the market (economy) of an increased ability of a reasonably large group of wage earners to consume products and services. If you raise the purchasing abilities of a sizeable group in the work force and they in turn consume more products and services???... seems it would (could) have a potentially very positive effect on the economy?

Is the Church of the Free Lunch still in business?

In general, and over time, people tend to be paid the value of what they produce. If they are paid a higher amount, their employer will either go out of business or reduce his net labor costs in other ways, either by reducing fringe benefits or by restricting employment to employees who are more productive, which often involves substituting capital for labor. Of course it can also include transferring jobs overseas. If people are paid an amount lower than the value they produce, a freely competitive labor market in a healthy economy will at the least give them the opportunity to find a job which does pay them their productive value.

If all you want is higher wages, just ask Congress to vote to slip newly printed treasury bills into every pay packet.

Regards, Don
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News