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It would make good political sense as well, as the conservative talking point is that hard work should be rewarded.
by altcognito 12y ago
It would make good political sense as well, as the conservative talking point is that hard work should be rewarded.
- briandear 12y agoThen workers ought to demand a raise if they are feeling undercompensated. The market pays what the market allows. Any distortion of that market would have deleterious effects somewhere in the chain. Any time you artificially increase the price of something, that rational response is to seek a substitute; which might mean that more overseas offices are opened and more jobs would be offshored. Which would actually increase the desired effects -- perhaps even increasing unemployment and wages. To paraphrase Jurassic Park: markets will always find a way.
- Hannan 12y ago>> Any distortion of that market would have deleterious effects somewhere in the chain. Regulation, collusion, and asymmetric information all seem to be "distortions" we're dealing with today; "The market pays what the market allows" seems to be an oversimplification as we're not operating in a free market.