Re: Higher wages: bad for Wall Street, good for Main Street

[briand@xxxxxxxxxxx (Brian Carnell)]

On Sat, 11 May 96 0:24:26 EDT, boddhisatva <kbevans@xxxxxxxxx> wrote:


>       I guess a higher minimum wage could never weed out poorly performing
>low wage industries, huh?  I suppose the best thing for this economy is to
>have people investing in low value-added capitals, right?

Wait a minute here.  Now you're saying that a minimum wage could "weed
out poorly performing" industries?

"Weed out" I suppose is a good euphamistic word for a Marxist to use
for the closing of a firm that provides employment to the poor.

As for your question about "value-added capitals," the market exchange
between buyers and sellers decides whether a given business succeeds
or fails.  Whether or not it is good that people invest in a given
business or industry depends on whether the market values the product
that industry produces.

>       If you want to give these "entrepreneurs" a blowjob, don't keep
>trying to impress them, just call them up.

Ah yes, the Marxist disdain for the entrepreneur or the "speculator."
What you fail to realize is the important economic role that the
entrepreneur or "speculator" performs, and of course that this role
will still have to be performed under a socialist system (although
your Marxist predecessors in Russia found it very difficult to
effectively implement and had to constantly vascillate between
restricting and relaxing pseudo-capitalists forms of
entrepreneurship).


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Brian Carnell                   http://www.net-link.net/~briand/
briand@xxxxxxxxxxx


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