Zen and the Art of the Minimum Wage

Posted By: Phaedrus
Posted on: Aug. 8, 2006 at 11:33 AM

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Thanks for the title suggestion, but I can't remember who it was...

Anyway here's a link to a story from Bloomburg.com, a business newspaper.

http://www.bloomberg.com/apps/news?pid=20601070&sid=atp2MiOAZ3Xc&refer=home

Binder acknowledges that it's an ``intellectual puzzle'' why a boost in the minimum wage wouldn't lead to wider unemployment, because the economic laws of supply and demand dictate that it should.

Explanations include cost savings from reduced job turnover, increased productivity as a result of better worker morale and the attraction of higher-quality employees through higher wages, Blinder says.

So, why the Puzzle?

Lower turnover, happier workers, and more money circulating through the local economy and no job losses??? I guess everything the average economists BELIEVES is once again proven to be false...

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Phaedrus

Aug. 8, 2006 at 01:32:18 PM

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From more lies Bush told me...

As Congress heads into election season, Democrats are eager to score points against Republicans and the White House on the issue of military readiness, and they want to do so by plowing ground then-Candidate George W. Bush richly furrowed in the 2000 presidential campaign.

Bush told the Republican National Convention in 2000: "If called on by the commander-in-chief today, two entire divisions of the Army would have to report ... 'Not ready for duty, sir,'" he said.

"How many divisions will we have to report that way to that question today based on the reporting system, General Pace?" said Rhode Island Democrat Sen. Jack Reed.

Pace confirmed that two-thirds of the brigades in the Army would now report as not ready.

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Average American

Aug. 8, 2006 at 03:36:29 PM

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Write, Don't link.

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prometheus

Aug. 8, 2006 at 05:15:04 PM

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I thought you may have got your handle "Phaedrus" from the main character in a book called "zen and the art of motorcycle repair" author ,Robert Persieg. The last name of aforementioned author may be mispelled.

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indie616

Aug. 8, 2006 at 05:45:04 PM

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The difference between Phaedrus' articles (and others) and AA's is that Phaedrus' contain fact backed up with more fact.

AA's articles are his opinions which he regards and distributes as fact.

COme to think of it, that pretty much sums up the liberal philosophy (Phaed) and conservative philosophy (AA).

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indie616

Aug. 8, 2006 at 08:21:23 PM

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Phaedrus,
That was a good article (link). Please bookmark it so that when we have this debate again with AA in 2 months you can refer to it.

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Hunter

Aug. 8, 2006 at 10:44:21 PM

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Phaedrus

First I hate the term "Minimum Wage". Let's call it what it really is, socialist wage controls. Anytime the government sticks its nose in our right to freely contract out our labor, that is socialism!!!!!

Everytime there has been a hike in socialist wage controls, tens of thousnads have lost their jobs and this time will be no exception, especially with the increase proposed. Don't believe me, open up a small business and try paying all the socialist mandates every small business is burdened with these days.

Theres a reason you don't see full service gas stations anymore and it's not because American's wanted to pump their own gas in the summer sun before the big board meeting.

But I do have a better Idea, rather than cheer for more socialism, likes look at the reasons why $5.15 was a kings ransom when I was young, and next to nothing today. That answer can be found in what the Federal government is NOT doing.

Article one, Section 8 of our Constitution states Congress shall have the power to coin money and regulate its value. THEY'RE NOT DOING IT!!!! They gave that job away to the privately owned unholy Federal Reserve Bank, which in turn causes massive inflation with the over printing of money and credit.

If memory serves me right the Fed last week alone created 11.3 Billion in new credit, and that was down 4.5 Billion from the week before. Year to Date the inflation thieves at the Fed have manufactured, out of thin air, more than 470 billion in US dollars just in the form of digits on bank statements somewhere.

We have two government, the one you see and vote for, and the one that actually runs things behind the scene. The government you see is trying to fix the problems they caused by forcing higher prices on everyone through higher employment costs and not addressing the root cause of those costs, the government you don't see

If you truely want to help the poor, we need to take back our money. Anything else is just socialism that will require more socialism to fix when it FAILS, AGAIN!!!!! And when Bush proclaims himself ruler of America remember, you were a cheerleader for it when it was your guy in office

From 1787 till 1933 inflation didn't exist because 1 dollar equaled 1/20th of an ounce of gold. Ever since that God danm Communist FDR took American's off the gold standard, the dollar has lost 90 percent of its purchasing power through the hidden tax of inflation.

You want to stop that? You need an education in free market economics, money and how it equals Liberty, the Constitution and most of all history lessons in tyranny. It's not very Zen like to use the force of governments gun to require me to pay wages that exceed the value of the labor performed

My point is simple, force - with violence if necessary - our government to do its Constitutional duty. In May of 63 JFK tried and we all know what happen to him, so it won't be easy. But the problem is still the same, we will never control our lives untill we control our money!!!!

Dave

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www.MoronInCharge.com

Aug. 9, 2006 at 12:45:32 AM

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Hunter, are you J.W. Shelton? It's O.K. if you are, really. I like some of what you have to say. I like some of what Shelton had to say. I don't have to agree with you all of the time to enjoy a different perspective once in a while. So really, are you Shelton?

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Phaedrus

Aug. 9, 2006 at 04:26:51 AM

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First, yes Prometheus, I took my name from the ancient Greek philosopher Phaedras, via Zen and the Art of Motorcycle Maintenance.

Second, yes AA, I know I burden the other VOAz folks with articles with less opinion and more proven facts takne from peer reviewed studies. And Indie, yes your observation is dead on.

Third, I'll address Hunter's opening, before he goes anti- Fed Reserve nutty on us;

Posted by: Hunter
Posted on: 2006-08-08 at 10:44:21 PM
Phaedrus

First I hate the term "Minimum Wage". Let's call it what it really is, socialist wage controls. Anytime the government sticks its nose in our right to freely contract out our labor, that is socialism!!!!!

Alright, to quote the late, great economist John Kenneth Galbraith, "Communism is when man exploits man; capitalism is the opposite." So in your world view, any government nose-sticking is Socialism (ooohhhh).

How about the bad Supreme Court ruling that granted corporations equal status with people? Is that socialism?

Or when the government interferred with the airline bailout after 9-11? Or the bailout of Mexico after the Peso tanked? Or the World Bank? Or how about the bailout of Bank of America, Wachovia, Chase, etc after LTCM's meltdown? Any of these Socialism?

Probably not, these are all the govt helping rich folks, and as we know from Our Glorious Leader, the sole purpose of our govt is to further enrich those who are already rich, at the expense of the middle class.

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Hunter

Aug. 9, 2006 at 07:16:39 AM

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MIC

Nope, I'm not J.C. Shelton. But if we think so much alike he must be a great man. A man of true knowledge and pure vision blessed by the hand of God himsel....

AWWWW Crap, theres another nut job like me walking the planet?

Phaedrus

When governments merge with business thats called Fascism, not Socialism. But is all just as bad. When a government bails out a failing business due to poor management without strings attached, that called Stupidy.

Reading between the lines I get the feeling you think a partisan hack for republicans, I'm not. If you read some of my past posts you'd see that.

And if I'm Anti-fed nutty, maybe you could show me where I'm wrong about this unelected, unaccountable, privatly owned corporation that control your life.

Dave

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Phaedrus

Aug. 9, 2006 at 12:01:26 PM

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And if I'm Anti-fed nutty, maybe you could show me where I'm wrong about this unelected, unaccountable, privatly owned corporation that control your life.

*** Alright, here's my defense of the Federal Reserve Banking System; I grant it is an odious, corporate controlled, quasi governmental agency totally unaccountable to the American people that does as it pleases, with no regard for how its policies affect anyone other than the Federal Reserve Banks, BUT IT IS STILL A BETTER SYSTEM THAN ANY OTHER I CAN IMAGINE.

Here are our options.
1. A National Bank, the Federal Bank of the USA. Controlled wholly as an arm of the Executive branch. So, the Pres needs more greenbacks in the economy, crank up the presses! Some Senator from CA is opposing me on the floor of the Senate? Lets raise the lending rates in the CA district...

2. No nationally controlled central bank. Wow, so anyone can open a bank, and set interest rates? That's a great plan... why not let them each issue their own bank notes also... Oh wait, thats close to the system we operated under the Articles of Confederation, and it was ugly.

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