3 ms·
sorry if i misinterpreted your earlier comments, it looks like we actually share a lot of the same ideas. I don't think that everyone in a society can generate
by lukesandberg 16y ago
sorry if i misinterpreted your earlier comments, it looks like we actually share a lot of the same ideas.
I don't think that everyone in a society can generate unique value, but its great that in our society that people who can are able to do so. So we really need a better method than just the invisible hand of Adam Smith to solve this problem.
Actually implementing policies to do this is incredibly complex, a lot of this is discussed (as they mention in the article) in the book Conscience of a Liberal by Paul Krugman. He made good arguments for raising minimum wages and the importance of unions. I'm kind of torn on the Union issue (too much Chicago School of Economics influence...), so i think there needs to be some sort of modernization of the union. Especially with trends pointing towards more and smaller companies, centralized unions don't seem to make much sense.
Livable Minimum Wages seem to make a lot of sense and at least that is more politically tractable than setting wage maximums.