2010 Midterm Elections Thread

[AGDee]

Originally Posted by Elephant Walk

Hide in the shadows?

How are these even remotely bad things? What is bad? A morally hazardous economic environment consistently controlled by the rich at the expense of the poor. That is what the economic statists have consistently (but unintentionally) promoted and compounded. They have truly proved that the road to hell is paved with good intentions.


Yes, we should promote Ponzi schemes. Love those things. I'm sure you're a big fan of Madoff too, right?


The economic statists have already done this. The classically liberal removes them from power.


Question:
How would the corporations be able to sell their goods if American citizens made .02 cents an hour (or some other absurdly low wage)?

Furthermore, it doesn't make alot of sense for corporations to offer absurdly low wages due to new intelligence and data gathering. In order to retain people, they usually pay alot more.

For example, I'm currently a human resource manager in a production plant for a fairly large company. I would say that our hourly workers average at least nine dollars an hour (probably more if we could do better at retention). It's non-union. Most of the workers do not have a high school degree. Why don't we pay anywhere close to minimum (I believe our starting salary is around 8.30 an hour or so)? Retention. We could probably pay less, especially in this economic climate. But it doesn't really make economic sense. Under your theory, we should definitely be paying minimum, right?

I know you haven't actually thought about any of this, which doesn't surprise me. If you ever have the chance, read some Classically Liberal literature...such as F.A. Hayek's The Road to Serfdom.

You do realize that $9 an hour is poverty level for most families, don't you? You do realize that a person cannot live on $9/hr?