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Mohave GreeniePhoenix44 Recent comment authors
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Phoenix44
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Phoenix44

It’s the basic narcissism of the Left that is so tiring – if only we were in charge it would work. There’s just a refusal to acknowledge that Hayek’s knowledge problem applies even to them. So generation after generation decide that they are the super clever ones who can make it work, then generate screeds ofor nonsense to ore tend it’s not actually about how clever they think they are.

Mohave Greenie
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Mohave Greenie

Labor is worth whatever labor is worth. In good times, you have to spend more capital to hire labor, in bad times there is a lot of labor available and accessing it requires less capital. As Tim has pointed out many times, jobs are a cost not a benefit. The relative cost of labor depends on how scarce it is. If an artificial labor cost such as a minimum wage is instituted, capital has two choices, spend more on labor or invest capital on devices to reduce the amount of labor needed. Hence ordering kiosks at McDonalds. However this has… Read more »