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On the other hand, you can make a man worth much more than any given amount by making it legal to create new bank balances out of thin air (central banking). Th

On the other hand, you can make a man worth much more than any given amount by making it legal to create new bank balances out of thin air (central banking). This, too, deprives him of the right to earn the amount that his abilities and situation would permit him to earn, while forcing his community to continue to be subject to the services he did not earn on his own. In brief, for a high wage you substitute over-employment. You do harm all around, with no comparable compensation (though it will be pitched otherwise). Interesting disparities we have at opposite ends of the income scale.

JoshTriplett 9y ago
I think you'd find that many people who would agree with the quote at the top of this thread will also agree that this is a bad idea as well (at the least, when used as you describe); your comment is an accurate description of an additional problem to be addressed.
- s73ver 9y ago
  Yet, it sounds like most of those people would rather spend more time and effort fighting raises in minimum wage than fighting those other problems.
  - thehardsphere 9y ago
    Maybe because "those other problems..." 1. Aren't the ones we're talking about here on Hacker News at the moment. 2. Don't nearly hurt the poor as much as the minimum wage does (after all, many people like it when we create money out of thin air, until it goes bust every few years).
    - s73ver 9y ago
      I'm not referring to just here in this thread, but in general. And I disagree on #2. I think the vast income disparity is far more damaging to the poor.
      - thehardsphere 9y ago
        Well, be specific about what you are complaining about, rather than vague and dramatic. "Vast income disparity" is not the same as "creating money out of thin air." The government and the banking system effectively do create money out of thin air, through fractional reserve banking and encouraging the purchase of real estate with mortgages. Lots of people like that, even though there are lots of bad things about it. It's especially popular with people who would otherwise not be able to afford a home and who think that disparity of wealth is a problem.

JoshTriplett 9y ago

I think you'd find that many people who would agree with the quote at the top of this thread will also agree that this is a bad idea as well (at the least, when used as you describe); your comment is an accurate description of an additional problem to be addressed.

s73ver 9y ago
Yet, it sounds like most of those people would rather spend more time and effort fighting raises in minimum wage than fighting those other problems.
- thehardsphere 9y ago
  Maybe because "those other problems..." 1. Aren't the ones we're talking about here on Hacker News at the moment. 2. Don't nearly hurt the poor as much as the minimum wage does (after all, many people like it when we create money out of thin air, until it goes bust every few years).
  - s73ver 9y ago
    I'm not referring to just here in this thread, but in general. And I disagree on #2. I think the vast income disparity is far more damaging to the poor.
    - thehardsphere 9y ago
      Well, be specific about what you are complaining about, rather than vague and dramatic. "Vast income disparity" is not the same as "creating money out of thin air." The government and the banking system effectively do create money out of thin air, through fractional reserve banking and encouraging the purchase of real estate with mortgages. Lots of people like that, even though there are lots of bad things about it. It's especially popular with people who would otherwise not be able to afford a home and who think that disparity of wealth is a problem.