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To: parsifal
What defies the basic laws of economics is not paying a person enough to live. I tried to explain that once here with chickens. If you don't feed a chicken enough to live, it dies. Freepers still wouldn't listen. But, never giving up, I try again. The same would happen to American workers except that the gov't steps in and pick up the pieces.

So if I use your analogy, we should all be kept like chickens. They have no control over their own lives except when to defecate. They are fed when the farmer decides and they die when the farmer decides. It sounds very much like a system that was in place in the former Soviet Union.

As far as people espousing the negative impacts of minimum wage laws (or any price floor for that matter) because some "smart guy like Milton Friedman said it" is not accurate. Sure, he believes in the free-market system, but I have yet to come across any introductory college econ textbook that does not take the same position. It is basic supply and demand. I would be happy to transcribe the wording verbatim from my college micro 101 textbook if you are still in doubt of the negative impact of minimum wage laws.

The only people that promote minimum wage laws are politicians on the far left, labor union leaders (from the far left by definition), Marxist (or socialist) college professors, and readers of the popular press (including evening news viewers) who have never taken an econ course in their life who are basically regurgitating what Ted Kennedy and his ilk are promoting.

59 posted on 06/16/2002 2:47:17 PM PDT by L_Von_Mises
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To: L_Von_Mises
"The only people that promote minimum wage laws are. . .etc.

Me. You forgot me. parsy

60 posted on 06/16/2002 3:50:56 PM PDT by parsifal
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