Posted on 04/19/2014 6:56:07 AM PDT by Cheerio
Most of our readers probably know what we think of minimum wages, but let us briefly recapitulate: there is neither a sensible economic, nor a sensible ethical argument supporting the idea.
Let us look at the economic side of things first: for one thing, the law of supply and demand is not magically suspended when it comes to the price of labor. Price it too high, and not the entire supply will be taken up. Rising unemployment inevitably results.
However, there is also a different way of formulating the argument: the price of labor must not exceed what the market can bear. In order to understand what this actually means, imagine just for the sake of argument a world without money. Such a world is not realistic of course, as without money prices the modern economy could not exist. However, what we want to get at is this: workers can ultimately only be paid with what is actually produced.
(Excerpt) Read more at zerohedge.com ...
In a closed system, no immigration both legal and illegal, and no welfare a minimum wage would work.
The one kid played hockey, watched my Dir Tv NHL channel 24 hours a day, ha ha; the boy knew his hockey. He had never seen an NHL Channel, it stunned him.
I have my own range, back porch T bench, chrono, ect. So they were shooting all my guns everyday. They had guns in their country, but couldn't hunt much. They got a big kick outta rural Alaska, shooting and all. Swiss are a good bunch; they seemed to feel happy enough about their homeland.
Under the laws of economics you can do as you like. What you can’t do is escape the cost of doing what you like.
They are a lot wealthier then us at least individually. They have the ways to do this so have had it. The United States is very different.
You could be right AND it would be funny...
Aren’t they taking advantage of their oil? Or is that Scandinavia?
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