Return Styles: Pseud0ch, Terminal, Valhalla, NES, Geocities, Blue Moon. Entire thread

Why is libertarianism so infallible?

Name: Anonymous 2007-06-04 7:05 ID:qJENOkNb

It is due to it being the application of political science. It does not permit failed policies to be continued fruitlessly year after year with idealistic fervour, it is next to impossible for anyone surrounded by fierce libertarian critics to continue clinging on to lies. It is a purely functional machine, lubricated with justice and fueled by free speech.

Name: Anonymous 2007-08-24 10:12 ID:lIj80enI

>>433
what about the poor people who don't have jobs?

there is no minimum wage.
companies pay whatever they want to the employees.

of course if we're in an expansionary period the need for all sorts of workers would push the wages up to the maximum the companies are able to pay. But what if we're in a recession? a very high rate of unemployment all over the country press down the wages to a point where peole will do practically anything for very little just so they can get by.
Of course rational intellegent people would've saved up money during the "up" period in order to get by easier during the down people. But people don't necessarily act like that.

A minimum wage of 7$ would mean that all of the basic labour jobs would pay the same, but basic labour jobs are just that, basic jobs. They don't require any real training or education, you can go from one to the other interchangeably, this means that if an industry needs alot more diggers then they'll need to raise their wages over the 7$, and if there is virtually no need for diggers, the few that there are will still be paid 7$.
A side effect of the minimum wage however would be that companies would try to cut down on the amount of basic labourers they have, rather than hiring 50 diggers it might be more profitable to invest in some machinery, machinery which would require mechanics and operators. This would cause there to be a need for a higher educated(thus higher paid) workforce, which would entice the workers to educate themself.

your claim that eventually the wages  for people who do basic jobs and don't look like cavemen would skyrocket and eventually be many times that of the alternative minimum wage is just lame. The general minimum wage would rise only untill it was more profitable for the business to somehow increase efficiency in a way other than hiring more workers, just as in the example above.
so what's the difference? the difference is that in a recessionary period there would be a higher unemployment in case one, but the people who are employed would be paid more, and in case two there would be less unemployment but a lower wage level.
but yeah, isolated a constant virtually unregulated minimum wage can be a problem during recessionary period because it takes a longer time to recover than it does for a libertarian economy.

Then you have to look into how the rest of the system is made up in order to see how bad this effect is.

and no i don't really want to get into health care since i'm not american and don't really know the details of how your system works (or fails to), i'll leave that to someone else.

Newer Posts