It really is the little things that make life worth living. Like taking the opportunity, upon driving past a small gaggle of overweight, parasitic nags picketing against the Governator's push to reduce California state workers' wages to the federal minimum ($7.25/hr) in the absence of anything resembling a reasonable budget, and shouting out the window "ABOLISH THE MINIMUM WAGE!" I'm sure that if these porcine tax-grazers were able to process big words like "abolish," then they would probably be appalled that someone would suggest such a thing; but then again, such cognitive ability would have automatically overqualified them for government service, and they wouldn't be out picketing in the first place.
Almost universally touted as another backstop government policy protecting the proletariat from evil capitalists, the minimum wage is simply another example of arbitrary price fixing. In a nutshell, it is a policy that states that bureaucrats on the other side of the country are better enabled to determine the value of labor than those who purchase it. Seen from another angle, it's a way for politicians to buy votes by ensuring unskilled laborers are paid wages that they may not otherwise be entitled to. Not to mention the fact that, by setting one of the most significant expenses of business artificially high, they are necessarily creating unemployment. But this obvious point seems to be missed by California state controller John Chiang, who apparently thinks ripping off productive citizens to pay parasites to do unnecessary "work" is a good idea. That makes about as much sense as implying that anyone has control over this crooked nut house of a state.
A quick example to illustrate that last point: ABC Co. produces widgets, those ubiquitous indispensable tools of industrialized society. In order to maintain a profit margin large enough to meet the payrolls, pay the rent, maintain the widget-making machinery, etc., the company needs to keep its expenses for unskilled labor down to $800 per day. Now, let's say to run a widget machine, all you have to do is stand there, keep your dick from getting pulled into the machine, and pull a lever for eight hours (nominal, of course: after all the union breaks, you only really end up pulling the lever for about six). ABC Co. human resources, being generous types and averse to difficult arithmetic, determines that it's worth $10/hour to run the machines. That allows them to hire ten lever-pullers, which is enough to produce enough widgets to fill orders and keep a little back-stock. But $10/hour doesn't go very far, especially after all the parasites gets their cuts. And it's an election year, so a little vote-buying is in order. Those folks making the minimum wage are typically suckers, and probably won't realize what's being done to them on their own behalf, so what the hell, let's increase the minimum wage to $15/hour. ABC Co. is now faced with a tough decision: fire three or four lever-pullers -- creating unemployment -- and stay afloat, while still allowing the other six or seven to have a higher standard of living than they would otherwise be entitled to; or keep them all on at the higher minimum wage and eventually go under, thereby creating even more unemployment. Typical of government action, there's always a loser, just not the state. They got their votes, so it all worked out according to plan.
Yes, abolish the minimum wage, along with all other forms of price-fixing, mercantilism, and protectionism. Does it bother you that the state's brilliant plan to give voters (in exchange for their votes, of course) a higher standard of living automatically lowers it for others by pricing them out of the labor market? Does it bother you that the Gulf shores are turning into tar pits in order to protect unionized shipping interests (in exchange for their votes, of course, along with some hefty campaign contributions)? Does it bother you that you are legally mandated to retain the security services of unionized "police" forces who have no complementary mandate to provide you the services that you are forced to pay for, and are likely to run you in or kill you while providing you the service you pay for if they decide to do so? Then do something about it. Learn about Austrian (real, valid) economic theory and share your knowledge. Resist the state's efforts to tell you how much value you should place on goods and services. Hell, resist the state in general. Remember, they're supposed to work for you, not against you. Take responsibility for your life and live it as you see fit. Just remember the Golden Rule and give the same level of respect for the rights of others as you would like to enjoy yourself.
Almost universally touted as another backstop government policy protecting the proletariat from evil capitalists, the minimum wage is simply another example of arbitrary price fixing. In a nutshell, it is a policy that states that bureaucrats on the other side of the country are better enabled to determine the value of labor than those who purchase it. Seen from another angle, it's a way for politicians to buy votes by ensuring unskilled laborers are paid wages that they may not otherwise be entitled to. Not to mention the fact that, by setting one of the most significant expenses of business artificially high, they are necessarily creating unemployment. But this obvious point seems to be missed by California state controller John Chiang, who apparently thinks ripping off productive citizens to pay parasites to do unnecessary "work" is a good idea. That makes about as much sense as implying that anyone has control over this crooked nut house of a state.
A quick example to illustrate that last point: ABC Co. produces widgets, those ubiquitous indispensable tools of industrialized society. In order to maintain a profit margin large enough to meet the payrolls, pay the rent, maintain the widget-making machinery, etc., the company needs to keep its expenses for unskilled labor down to $800 per day. Now, let's say to run a widget machine, all you have to do is stand there, keep your dick from getting pulled into the machine, and pull a lever for eight hours (nominal, of course: after all the union breaks, you only really end up pulling the lever for about six). ABC Co. human resources, being generous types and averse to difficult arithmetic, determines that it's worth $10/hour to run the machines. That allows them to hire ten lever-pullers, which is enough to produce enough widgets to fill orders and keep a little back-stock. But $10/hour doesn't go very far, especially after all the parasites gets their cuts. And it's an election year, so a little vote-buying is in order. Those folks making the minimum wage are typically suckers, and probably won't realize what's being done to them on their own behalf, so what the hell, let's increase the minimum wage to $15/hour. ABC Co. is now faced with a tough decision: fire three or four lever-pullers -- creating unemployment -- and stay afloat, while still allowing the other six or seven to have a higher standard of living than they would otherwise be entitled to; or keep them all on at the higher minimum wage and eventually go under, thereby creating even more unemployment. Typical of government action, there's always a loser, just not the state. They got their votes, so it all worked out according to plan.
Yes, abolish the minimum wage, along with all other forms of price-fixing, mercantilism, and protectionism. Does it bother you that the state's brilliant plan to give voters (in exchange for their votes, of course) a higher standard of living automatically lowers it for others by pricing them out of the labor market? Does it bother you that the Gulf shores are turning into tar pits in order to protect unionized shipping interests (in exchange for their votes, of course, along with some hefty campaign contributions)? Does it bother you that you are legally mandated to retain the security services of unionized "police" forces who have no complementary mandate to provide you the services that you are forced to pay for, and are likely to run you in or kill you while providing you the service you pay for if they decide to do so? Then do something about it. Learn about Austrian (real, valid) economic theory and share your knowledge. Resist the state's efforts to tell you how much value you should place on goods and services. Hell, resist the state in general. Remember, they're supposed to work for you, not against you. Take responsibility for your life and live it as you see fit. Just remember the Golden Rule and give the same level of respect for the rights of others as you would like to enjoy yourself.
Cal, Right on! BUT, for most, the Golden Rule ain't what I suspect you meant. 'He who has the gold, rules' is the modern version and most today sadly follow that line. It's the 'Do unto Others' one I think you had in mind and as written, it encompasses the second greatest law, love thy neighbor as thyself. Oh, that we would.
Posted by: Redman | July 22, 2010 at 10:35 PM