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Politics : Mainstream Politics and Economics

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TimF

To: RMF who wrote (46190)	6/18/2013 3:58:31 AM
From: i-node	1 Recommendation Read Replies (1) of 85487

>> Yeah, they were doing it before Obamacare and yeah they will probably do it more after Obamacare. Right. Because markets work better than anything else at allocating resources. When you get government tinkering with markets, everyone loses, as a general rule. Government cannot run its own business, let alone improve on the functionality of markets where all the parties are represented at arms length. The minimum wage is the most racist, destructive force in labor markets today, keeping people out of work who would be better off working, preventing young people from getting good jobs where they can learn skills, and generally causing consumer prices to be higher. A contract between employer and employee is arms-length by definition, and government should have no role at all if an employee wants to work for $4/hr and Walmart is willing to hire him for that. As to "living wages", it doesn't take much to live. It takes a lot to own a car (or two), buy booze and cigarettes, have TVs in every room and TIVO and cable TV. That's what we're really talking about.

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