Posted on 02/23/2015 6:57:14 AM PST by SeekAndFind
Recently, I have been having a bit of a back-and-forth with former Labor Secretary Robert Reich about labor markets (his, mine, his). While Secretary Reich stands out for obvious reasons, he is hardly alone in terms of criticizing my past columns about jobs and labor markets (if you want to join in, see my positions, for example, here, here, and here). Basically, the two main issues are that many people want jobs to serve as a delivery mechanism for social welfare benefits while I (and other conservatives) would prefer to keep the two separate and that liberals seem to have trouble understanding that both sides win in any voluntary transaction.
Beginning with the first point, critics of today's treatment of workers clearly believe that employers should provide every worker with health insurance, paid sick leave and vacation days, a safe and rewarding work environment, and a wage high enough to raise a family of four in comfort. What this ideal is missing is any connection to the real world where the laws of supply and demand operate.
Employers hire workers because they expect the worker to contribute to the company in a way that produces more revenue for the company than the total compensation cost of the worker. That means that to an employer wages, benefits, perks, and payroll taxes all count toward the "cost" of that worker.
If you add to that cost, such as by requiring a week of paid sick leave for all workers, then employers will find that for some workers the cost now exceeds the revenue generated. When that happens, workers lose their jobs.
(Excerpt) Read more at realclearmarkets.com ...
Such a SMALL-minded man.
I agree with everything the author writes...but he doesn’t seem to understand that the left does not care if more “worker” benefits kill jobs...it’s win won for leftists 1) they be come the party of free vacation for the workers lucky enough to keep their jobs and 2) the party of free handouts to the unemployed.
Well, there are those who think "little" of him... [/Shrek reference]
PFL
His arguments always fall short.
It is said that he possesses an intellect that dwarfs that of most men, but I just don’t see it.
Mr. Reich is far from an intellectual giant.
This is one of the most concise, easy to understand, dispassionate explanations of the relationship of wages and market forces and the disconnect from liberal ideology to the real world and unintended consequences that I have read in a long time. I think you could give this article to some, not all, but some liberal family members or friends to explain how conservatism understands basic, real world economics, then ask where they see a flaw in the logic of the concepts presented.
Probably won’t change everyone’s mind, but at least they should get what we are saying with a better understanding. They will still hate us, but maybe some will begin to see the light. Or Not.
Note to “Meester Big” Reich and “progressive” blood suckers everywhere. Remember the First Rule of the Parasite: DON”T KILL YOUR HOST!
The Midget is a lawyer who went to Yale with Hillary. that is his resume.
” Labor Secretary Robert Reich “
Gret. Put a fast talking Marxist in charge. Also a pathological liar like Paul Begala.
Robert B. Reiiiichhhhhhhhhhhhhhhhhhhhhh, as Rush Limbaugh calls him.
He’s the fourth Reich.
See Venezuela for proof of what you said is true.
There are business ethics, though, or there used to be. Pure greed and immorality in a business will sink it’s success and rip off it’s shareholders just as quickly as will socialism. But this ethical framework is not imposed by the government nor greedy labor unions, rather by an ethical and conservative business leadership.
Today’s pure tolerance; self centered tolerance of evil and intolerance of good, is not the business ethic that works. America was built on businesses that were ethical from a social conservative (Western) point of view combined with a conservative business point of view. Business leadership went to the ethically moral, healthy, wealthy and wise.
The ultimate goal of the Left is to redefine corporate charters in such a way as to MAKE them become charities.
I'm amused whenever some business person thinks about starting up in my area, the local rag asks the person how many people they're going to hire. Not what kind of service they're going to provide for the public, but how many people they plan to employ.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.