dbphoenix Tell you what. Since it becomes increasingly less likely that grown-up discussion will take place here, this may as well be moved the the P&R Forum. Hello dbphoenix: Maverick74 was kind of enough to give us a list of books and courses on economics that he likes. Can you do the same ? Would you mind giving us a list of books on economics you like and may be we will all have a better understanding of your position and then maybe we can have as you say a "grown-up discussion" here. Can you do that please ? Thank You Anubis
Interesting thread showing current US views on that old chesnut of The Haves versus The Have Nots. If you want an insight of events leading up to the present situation read the history of the Ford motor company. People like Henry Ford and his hitman Bennett crushed the labour movement in America in the 1930s. Driven by greed at the top and fear of becoming economic slaves or starving at the bottom. Stopping immigration is like catching water in a sieve. The US Govt should make sure the wealth is spread around. The Catholic church must bear much of the responsibility for the massive over crowding around the world but they are unlikely to see sense just yet. Someone estimated it is about 1 million desperate people live on Mexico city's garbage dump. A great advert for too many people. And so it goes on and on until the inevitable ... trouble.
That's part of it. He was more against labor leaders than he was against labor. In fact he doubled the hourly wage (due in part for selfish reasons: he wanted his workers to be able to afford his cars). He also reduced the workweek and gave his workers a day off. This is not to suggest that Ford was a philanthropist, though he did his part there. But history is nothing more than a collection of reports, beginning with letters and dispatches (and a not-inconsiderable amount of fictional accounts) and evolving into blog entries. What is "true" with regard to history depends on what one reads.
These matters these days are decided behind closed doors at Jackson Hole, the Bohemian Grove etc. Not healthy.
Facts are terribly painful for a statist to accept which is why they get tossed or ignored at every turn. Even the clearest, simplest of examples go unaddressed (of which there have been many provided in this thread). The arguments of the statist invariably devolve into calls for compassion and ad hominem. -burn8
For the record, dbPhonex, you are on the politically popular side of this issue. Last night I saw on the news where the minimum wage is going to $13 in the next couple years here in LA. This simply reaffirms the post below that I wrote a couple weeks ago. BTW $13/hr is still far below the poverty line in LA. Look for continued, aggressive increases in the minimum wage as "Equality" remains the unifying political objective. Oh, and look for continued, aggressive "inversions" as corporations struggle to remain competitive in the global marketplace. http://www.elitetrader.com/et/index.php?threads/sky-high-inflation-coming.284557/page-6 >>WAGES ARE NOT INCREASING WITH INFLATION. Yes they are. It is a core, systemic rise and we are in the early to mid stages of it. It is coming and it will hit like a tidal wave. Low wage workers have been organizing for years under the banner of "Equality". These organizations transcend industry and political groups. They are strongly embedded in local governments and schools. They are the de facto law and have been for years (decades). If you want to know who is running the country read up on the events in Murietta. The recent march on McDonalds was a practice run. Read up on it. The wage increases that are looming are unlike any other in that they have no financial or economic reasoning behind them. It is a money and power grab and nothing more. Like the kid who gets his hand stuck in the cookie jar, this money grab will have dire consequences, at least in the short term. It will send industries like hospitality and food service into a tailspin. However eventually prices will rise and we will be back to square one just as we have many, many, many times before. Expect to continue to see the escalation in wealth outflows to other countries as taxpayers seek value for their tax dollar (even if the absolute rate is higher, taxpayers will seek value). I have personally witnessed workers being transported by bus to surround and shut down businesses who do not comply.
well said, good post. That's why I like Unions, who are private organizations and can bargain based on some sense of economic reality. When the government becomes the union, you can toss out all economics and replace them with votes.