As we’ve argued many times before, arbitrarily raising the minimum wage, particularly to a level which is far above the real wage rate is an idiotic move. It creates unemployment for low wage earners, and in many cases for the people who formerly employed low wage earners. A “living wage” sounds nice. It sells to economically unsophisticated people. But a job doesn’t suddenly become “worth” more just because the government declares that it is. One can not revoke gravity. Likewise one can not revoke supply and demand.
Magic is not real, no matter what the politicians say.
This is an old article, but given the current debate it is worthy of a post.
And guess what? The likely winner (according to this article) writes a lot of checks to politicians in Washington DC.
The goal here is big data. Managing population health – not your health necessarily. And people are going to make big bucks (taxpayer bucks) in the process.
I wonder if it has anything to do with high taxes, over regulation, or the highly crony governments in at least a good number of these cities. Add in crime, and traffic, and of course people want to get out of Dodge, or Chicago anyway.
Many of today’s office workers should be telecommuting most of the time. It just makes sense. Why sit in a cube in a building when one can do the same job, likely more efficiently at home? This would take people off the roads and generally make America a more pleasant place.
All one really needs for many jobs these days is a high speed Internet connection. One can live almost anywhere if one has that. Why commute into a dirty, congested, city if one doesn’t have to?
This is pretty interesting. What do people actually do for a living? Where are these jobs? Why aren’t we all telecommuting at this point? (Seriously, if you work in a standard white collar office this is a legit question.)
This map represents each job in the USA (according to the 2010 census) with a dot, at the job location.
Think about how “friendly” Paris is. Then consider how “friendly” Paris taxi drivers are. Then consider how “friendly” said taxi drivers are likely to be to someone they see as taking their job.
Sometimes cronies wear pinstripes and sometimes they drive a Peugeot.
Get ready. The robotization of the workforce (and many other things) will rock the world on par with what happened with the Internet. Likely to an even greater extent, though the two technologies are closely tied of course. The coming revolution will change the way we see the world and each other. Will we make good pets or will we transcend many of the limits which shackle humanity?
You better believe it.
Below is an excellent explanation of how public employee unions perpetuate the expansion of government and by extension legal theft from taxpayers.
I have found that the most vehement defenders of government waste, high taxes, and the red tape which strangles the productive part of the economy – the private sector – are government workers. They have a good deal going and they don’t want taxpayers to get hip to their deal. But we are and we are not happy.
Truly some of the greatest crony capitalists of all are those who work in government itself. Think of it. For many government workers taxes are a circular flow. They (and we) pay taxes to finance government which in turn sends them a paycheck.
But for many of us taxes are for the most part just a net outflow. An unrelenting bill. The bill would be a lot smaller if we could cut a large number of these workers from the bureaucracy. Personnel is the most expensive part of overhead.
I like Mike Rowe and I like his general philosophy of work. His perspective dovetails with a quote which has long stuck with me from Ted Nugent of all people, who said that a (not the) key to success was to find something one is good at that ads value to other people’s lives. Then develop that skill. If one can do this one can probably make a living and might even achieve something extraordinary.
As our regular readers know I am generally loathe to post articles which use the terms “right-wing” or “left-wing”. We need to get away from that. However in this case I will happily make an exception.
This is pretty interesting data but it is of course pretty limited too. How do the unemployed vote? (Though they tend not to give to political campaigns presumably and that is where this data came from.) What does the stripper vote look like? (I guess that just depends on which convention is in town.) Or what about the all important lion tamer vote? (My bet, solidly Republican.)
We are not creating new businesses in the USA at the rate we used to. A mixture of factors has contributed to this (as is pointed out in the attached article) but crony capitalism and overegulation (the two are tied) are the chief culprits in my estimation.
It’s always been hard to start a business. It’s always been hard to take an idea, make it grow, and then make it grow profitably. But in an increasingly crony and regulated economy it’s even harder. It’s one thing to have a short stack at a poker table. It’s something different to have the short stack while the big stack established firms get to change the rules of the game and take some of your stack with each hand.
An excellent article from Jack Curtis at The American Thinker.
America has stagnated. It isn’t dynamic. Government is thick and restrictive. Businesses are not being created at the rate they were in the past. 20% of households (according to the attached article) have no one working. 1 in 5 households have no workers.
A poison cocktail of fiat financialization and massive government has dripped into the American bloodstream over the last 4 decades or so. The vigor is gone. Increasingly desperate people look to the welfare state for solutions, or at least a fix.
It is the state which has created this situation, not capitalism. We haven’t had real, non-crony capitalism, in this country for a long time. And the culture of Obama has accelerated this move away from free markets and free prices.
They say that parasites rarely kill their hosts. But sometimes they do.
Crony capitalism is bipartisan, transpartisan even.
Though there is a general rule which holds, and that is that the degree to which a politician enables the state is the degree to which that politician will probably enable cronyism. The bigger the government the more crony the government. It’s just the way it is.
The only real way to fight crony capitalism is to lesson the catalyst which makes crony capitalism possible, government. There is no “electing good people” to government and then having a large government “work for the people.” Government corrupts. It is at best a necessary evil. For the most part, get it out of the way.
Hint: None of the good cities are in California, New York, or Illinois.
I run this clip periodically because I think it is one of the most important presidential speeches caught on tape. It is of president Eisenhower, who was the commander of American forces during World War 2 warning of the emergence of a powerful armaments industry in the United States, and the danger of such an industry. It was his farewell address to the nation.
I am a navy brat. My father is/was a Cold Warrior. I’ve spent a good part of my life around the Military Industrial Complex and I believe Eisenhower’s warning was dismissed and continues to be dismissed simply because so many people make money in the war machine. People go into the military, retire on a pension and then enter the military contracting game. It’s a very complicated works program which is championed by supposedly small government “conservatives.” (They aren’t really conservatives.) It’s a shame actually. Our military should be much smaller and much smarter.
Every time I post this video somebody gets upset and explains to me why it is that we should have a military apparatus which spans the globe. This time the rule is – anyone can make the same argument – but only if they’ve never gotten a dime from the Military Industrial Complex.
Explaining why we need to reduce the size of the military to some is like trying to explain to a UAW guy why GM should have died in 2008.
We’ll see. But we are very pleased that crony capitalism has emerged as a key issue in the 2016 presidential race. It is one which we obviously believe is of vital importance.