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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (881147)8/31/2015 11:32:46 AM
From: RetiredNow1 Recommendation

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i-node

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Keynesian policies don't make any sense a lot of the time. Here's another example. What's the best way according to Keynesians to lift consumption? Why, life the minimum wage. So that's exactly what Wal-mart did. And here are the consequences. They were facing an extra billion in wages and decided to cut hours to offset the wage increases. At the end of the day, prices and wages should be set by supply and demand, not through some artificial price control mechanism. Price controls simply lead to a misallocation of capital.

Wal-Mart Cuts Some Workers’ Hours After Pay Raise Boosts Costs
bloomberg.com
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