Minimum wages

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An explanation of how the minimum wage can be expected to harm marginal workers (even while it might help others). Time 7:08

The problem is not Edgar. The problem is not Capitalism nor is the problem Socialism in the form of forcing a minimum wage by government.

Most people in the world are not employed by the Edgar's of the world. Most business are mall business where the owner is a key worker in the production of a product or service.

This statement is not meant to suggest that the Edgar's of the world do not also work or provide a service. Many often do provide tremendous service because because the establish large business that requires complex and organized team work and are able to employ many people who have no other means of support.

The problem is not really Simon nor all the other workers.

The problem is selfishness.

There are some selfish Edgar's in the world but there are also many selfish workers in the world.

Of course you are not one of those selfish people. Or are you?

Maybe you just lack knowledge as to what is selfish and what is not selfish.

Maybe your parents or grandparents were selfish or engaged in selfish practices.

Trying to get the government to force employers to pay a minimum wage is seeking a benefit from government that is provided by force.

Historians like Polybius predicted that the peoples appetite for benefits received "by way of a rule of force" degenerates the character of the people and their institutions until the very governments they looked to become worse despots than Edgar's in the world ever were.

The idea of benefiting or living at the expense of others is a lot more common than most people would like to admit.

Simon and others have become 'accustomed to consuming benefits at the expense of others and to depend for their livelihood on the property of others...' that they do not even see coveting what Edgar or anyone else has as a selfish practices.

In the video it is assumed that Edgar is forced by competition to provide the wages he pays his employees because there is competition for workers. There is also a competition to sell the product being produced at the lowest price. That puts a downward pressure on wages.


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Footnotes



https://youtu.be/