Free-market economics is the only proper economics, and everything else is B.S.
Again, that is just a theory and a hopelessly naive one that is not born out in practice, the most successful economies long term are mixed economies.
Want to know what a real free market economy looks like? Think of Victorian England that is the nearest you'll get. Opulence for a very, very few, degridation, misery and oppression for everyone else
all the best, rantal
I'm sorry, but you simply don't know what you're talking about. I would be happy to address any specific point you might want to raise, but by a free market, I mean two parties negotiating a price for something without either of them putting a gun to the other's head, or the government putting a gun to somebody's head. See, people just don't understand my argument for gun control.
Free-market economics is the only proper economics, and everything else is B.S.
Again, that is just a theory and a hopelessly naive one that is not born out in practice, the most successful economies long term are mixed economies.
Want to know what a real free market economy looks like? Think of Victorian England that is the nearest you'll get. Opulence for a very, very few, degridation, misery and oppression for everyone else
all the best, rantal
I'm sorry, but you simply don't know what you're talking about. I would be happy to address any specific point you might want to raise, but by a free market, I mean two parties negotiating a price for something without either of them putting a gun to the other's head, or the government putting a gun to somebody's head. See, people just don't understand my argument for gun control.
Well if that is what you mean by a free market then you have failed to understand the meaning of the term in the English language
rantal wrote:Well if that is what you mean by a free market then you have failed to understand the meaning of the term in the English language.
Please, you don't have the slightest understanding of any facet of economics, much less free-market economics.
So, you say but offer no evidence or reasoning to support this tendencious claim
all the best urban
People who support minimum wage laws are either economic idiots, because these laws hurt the very people supposedly being helped, or have a vested interest, like unions.
I'll try to offer a short explanation that maybe even you can understand. If you raise the minimum wage, employers on the verge of letting somebody go, will lay that person off. Mr. Obama can now say, "Well, you don't have a job anymore, but if you did, you'd be making some pretty good money." Unions love minimum wage laws since they increase the wages of its members.
Yes, that is indeed the theory, however the reality is very different;
1. Many increased labour costs are merely passed on to the customer
2. In some instances paying higher wages can save the employer money, indeed there is an establishment only 2 miles from my home where an increase in employee pay leads directly to a cost saving and improved service, simply form the more those employees put into the job and their length of time they remain in the job.
3. market forces are alone are insufficient to get employers to increase wages, even, as in the above example, it saves them money.
Unfortunately advocates of the free market fail to recognise that people do not always choose the decision that is in their best interest.
There is another fundamental flaw in the free market but it is outside the scope of this topic
Employers always make decisions in their best interests. If they don't, they go bankrupt. Unfortunately, the government can make bad decisions all day long and never go bankrupt. If employers are forced by the government to pay minimum wages, the employer can shift work to more productive employees, buy equipment that doesn't require as much labor, or lose more business to places like China.
Theory blinds your eyes to reality, being naught but an abstraction from the particular. The particular is always more true, since it is from the particular that theory is derived
