Freedom Conspiracy

Gary Greenberg's political blog: Promoting Agoranism, a system of political organization based on free trade, private ownership of property, voluntary contracts, and no soverreign governments.

The Minimum Wage is Always Zero

A major impact of the minimum wage laws is the large number of people that will be thrown out of work. A Congressional Budget Office study in 2014 indicated that a minimum wage increase to $9 an hour would cost 100,000 jobs, and an increase to $10.10 would result in the loss of over 500,000 jobs. Those are nation-wide figures. For people laid off due to minimum wage hikes, the minimum wage is always zero. And many lives will be thoroughly destroyed by the loss of the marginal income that enabled families to survive.

Often overlooked in these analyses and debates is that it is not only minimum wage earners who get thrown out of work, but also includes a large percentage of people who earn more than the minimum wage because management can no longer afford the differential between different pay levels for different skill sets.

In 2018, the NYC minimum wage went up to $13 an hour in the hospitality industry and had a devasting impact on the restaurant industry. In 2019, the rate goes to $15 an hour. Have you noticed the rapidly increased use of ordering kiosks in fast-food restaurants that replace many workers? Some places are now experimenting with automated burger-flippers. Wonder where that will lead.

It’s often argued that the low minimum wage does not pay enough for an individual’s survival. That people still take the jobs is evidence that this is not the case. In many instances, the wages received are increments to a family income that includes family members with other sources of income, sometimes from jobs that pay more than the minimum wage.

The Hierarchy of Values and the Ambiguity of Fairness

Anything, at any place and at any time, that anyone wants to interact with, positively or negatively, is a value to that individual. The item desired might be physical property, an idea, a dream to be realized, a goal to be achieved, a person’s characteristics, a memory, an invention planned out in one’s mind, a principle of behavior, a propensity for truth, a vision …Continue Reading “The Hierarchy of Values and the Ambiguity of Fairness”

The Trump-Krugman Star Wars Alliance

Paul Krugman is the NY Times economics columnist tasked with the goal of explaining why any free market achievement is really a horrific disaster and that persons escaping poverty aren’t really that thrilled about the change. He even won a Nobel Prize. I think it was for Economic Fiction but I don’t see any purpose in checking it out.

Anyhow, during the reign of the Emperor Obama Ignoramus the First (EOIF), when the government did it all it could to delay the economic recovery, Paul Krugman chirped in with a brilliant suggestion. The way to get out of the recession would be for the Emperor to prepare for a war with Mars. After all, it is common knowledge among economists that King Roosevelt the Wretched, having failed to lift us sufficiently out of the depression with his various Hitler-style economic programs, managed to rescue the country by getting us into war with Germany and Japan.

Following the defeat of Hillary (Pay up or Shut up) Clinton by Donald (No Vagina) Trump, Krugman presciently and brilliantly predicted the immediate financial and economic devastation of the United States. With the stock market shooting to record heights, unemployment shrinking to multi-decade lows, African-Americans reaching never-before-seen levels of prosperity, consumer confidence at rarely seen highs, and middle income people receiving tax cuts, one has to admit Krugman was right on target. Who else could have predicted such a disaster? The N.Y. Times is lucky to have him.

Krugman’s gleaming insights were so mind-numbing that even the Trump administration found a new respect for Krugman’s analytic skills. Just the other day, Trump adopted the economic development plan Krugman proposed to Emperor Obama and announced his administration wants to establish a military space force. He immediately ordered NASA to find evidence of life on Mars so that the Joint Chiefs of Staff can prepare a battle plan to repel the invasion.

Has Krugman finally normalized Trump?