Occupied by Government!



"The big problem with the honest Left

is their absolute and obstinate refusal

to learn the most basic economic

principles."

By Rod Rojas

 

I have to say that I share most — if not all — the goals of the honest Left, which would be embodied in a constantly rising standard of living for the lowest economic classes. I often find myself watching Democracy Now for its antiwar, free-speech, and anti-death-penalty stances. But the big problem with the honest Left is their absolute and obstinate refusal to learn the most basic economic principles. The "Occupy Wall Street" movement is no different, and it is a real pity that all this energy and frustration can't be put to use toward achieving their goal.

 

Many demands are being made, but sadly, if these were ever implemented, they would make problems worse by lowering the standard of living for all — especially for the poor! I will proceed to address some of the demands in plain English, hoping to reach out to them.

 

Raise the Minimum Wage to $20

If this were a solution, why not raise the legal minimum to $50 an hour, or maybe to $1,000 an hour? If this were a real solution, why not go to a poor country and legislate a minimum wage of $1,000 an hour and let the wealth flow!

 

Hong Kong, which enjoys one of the highest standards of living with almost no unemployment, didn't have a minimum-wage law until 2010, and it was passed because of pressure from the Communist government in Beijing. Switzerland has a very… (Read more)

 

Source: Mises.org