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69 sats \ 6 replies \ @kepford 28 May 2024 \ on: California Dreamin’: Minimum Wage Hikes Lead to Fewer Jobs and Higher Prices econ
Its all so tiresome. The price of ignorance and naivety is great. The politicians do not care. They do not feel the impact. The peasants fall for it over and over again. The politicians will blame big business and greed. Fair enough, they are greedy. I always grant someone that fact. But why didn't they do these things before? The politicians forced this situation. They do not care about the masses. They care about themselves. They promise the world and when they fail they blame others. Then they do it all over again. This cycle will repeat until morale improves.
The true naivety is believing you were ever more than a vote to a politician. That these are unintended consequences. That the politicians even care. They have no skin in the game. At least a business can lose customers and employees. They can suffer the consequences more directly.
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Tom Woods made such a good point about minimum wage laws: they punish the person least deserving of punishment.
We can infer that someone's employer literally made them the best offer, out of every other person on Earth. So, why are we going to that person and telling them they need to do more?
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Exactly. I think a case can be made that the world would be better off without wage floors. It is basically an unemployment program.
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Sometimes, I try to counter the greed copout, by asking "Why would you put greedy businessmen in a situation where they'll save money by firing people, then?"
For some reason, that's never gotten me anywhere.
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There is a mental hurdle people need to get over. The assumption of greed is something people really don't grasp. They seem to only have a narrow vision of it. Only that one fed to them. They do not see the greed in those making promises. They do not see their own greed. This one is the hardest to see. Everyone is greedy, to me that's the key to understanding how the world works.
Obviously some are more greedy than others but unless you are working for free, greed plays a role. One will argue, I'm not being greedy but that is only a matter of perspective. The business owner doesn't see themselves as greedy either. Nor does the politician. But when you look at it objectively they all want what they can get... The come to agreement on a price. The state is the outside bully inserting themselves into the situation.
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"Greed caused _______." is just like saying that gravity causes plane crashes. True, but completely useless.
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