You claim an affinity for the Austrians, but it's painfully obvious you have no familiarity with their literature - or lack the capacity to comprehend.
The Henry Ford BS is a concoction of people who don't understand the processes, so imagine scenarios to fit their childish delusions. The level of capital development at the time was such that labor on the assembly lines was brutal in comparison. His labor force was turning over almost three times annually and interfering with possible production. His response was to raise wages to retain workers, a decision vindicated by response from his customers and his employees, or, "The Market". Worked out well, led to more and better.
I'm retired, my savings wounded, so shop at WalMart as much as possible. I'm heavy on groceries, so guess my savings at around 28 - 30%. That leaves some change to either buy more or spend a little elsewhere. Now multiply a piss-ant like myself by 41 to 43 million others each month. With higher prices, what do you think would be the effect on total economic activity? On employment in retail, production, packaging, transportation?
Up till about a year ago I had to do maybe half my grocery shopping at non-Walmarts, had a short conversation with a grey-haired and wrinkled checker there. I muttered about how much Safeway and Albertsons, et al, made me appreciate WallyWorld. Turns out her pension saving had recently largely evaporated and WalMart was the onliest employer would offer her work. She was damn well grateful.
Interferences by government with rational economic calculations have so distorted markets, medical care being a worst example, that it's increasingly unaffordable. And you seem to represent a plurality that believes exercise of moral intuition through the anointing of more and better thieves and hustlers will make things better instead of worse. Your kind are preventing a return to principles that have stood the test of experience. |
