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To: TChris
"The idea that paying above market value for labor would just make the world a better place for everyone is quasi-socialist BS."

No, "paying above market value for labor" (above the subsistence level) is the MAIN way to PREVENT socialism.

Just to make sure that the point the freemarketeers want to hide is not being missed here. Ricardo - the economist who developed the theory of comparative advantage, he also presented the "iron law of wages," according to which wages tend to stabilize around the subsistence level.

Freetraders hide this point because they want to be in the rank of the owners who will be benefiting from the freemarket.

907 posted on 06/01/2005 2:38:31 PM PDT by A. Pole (Wizard of Oz: "Pay no attention to that man behind the curtain.")
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To: A. Pole
Freetraders hide this point because they want to be in the rank of the owners who will be benefiting from the freemarket.

If you aren't a "freetrader", whatever that is, and apparently you don't care for socialism, then what? Just what do you call an economic theory where an employer is forced to provide unskilled workers what ever income level will make them comfortable? Do you believe the "poverty line" is a meaningful, objective number?

909 posted on 06/01/2005 2:44:04 PM PDT by TChris (Liberals: All death, all the time.)
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