This video discusses the trends in 2014. They are a little different today. The Trump economy has had one very good quarter. Wages are rising in some spots (not enough to affect the aggregates). If we get a second quarter of good growth – the numbers will be coming out in October – I expect wages will start rising enough to affect the stats. Just as they did in the dot com era. A year or two of this kind of growth and wages will definitely rise. Significantly.
Another thing that will help long term is reducing the strangulation of government regulations. Do you have any idea how hard it is to start a business? How many regulations you get subject to once the business moves out of the garage, basement, or kitchen? Hair braiding in some places requires 1,500 hours of “education”. It is a racket. A racket to reduce competition.
His idea of a $15 minimum wage is not bad. If businesses volunteer to pay that. They are a very bad idea if government forces that. Businesses that can’t afford $15 will fold. People who were working will lose jobs. A growing economy will fix that with no government edicts. McDonalds raised wages during the dot com boom. Because employees were hard to get. Exactly what Trump is engineering.
The author does get the problem – the desire to take as much as you can get. Beyond mere greed into avarice. I’m not sure of his solutions. For moral capitalism you need a moral people. We are missing that. The old religions are falling and no new ones (of significance) have arisen to take their place. We had some promise of that in the late 60s and 70s. You can get a mystical experience from a pill. Which sort of says religion is built into us. But it has to be activated. With the old methods it took years of training and effort. It still does. But you can get a very good start with a pill. That start was rare in the old systems. You more or less had to get lucky.
The first ten minutes of the video where he discusses the problem is interesting. The last ten minutes where he says economies can be improved by government fiat is insane. If a $15 minimum wage is good wouldn’t $50 be better?
Comments
6 responses to “The Desire To Have It All”
Ford didn’t raise wages by government fiat. He made the decision on his own.
Raising it by edict will force some businesses to fold. The opposite of what this guy claims to want.
To really understand systems you have to get the micro and the macro. The micro seems to be missing from this guy. Another out of touch plutocrat.
usual libertarian conservative bullish*t unless your disabled (and yes I know their are some on ssd who are not really disabled) you have to work for a living. begging on the street is a form of working for a living. in les miserable “the law in all its magnificent equality for bids the rich man as well as the poor man to sleep under a bridge.” otto von bismarck came up with the welfare state in germany not because he cared about the poor ;but to protect the rich from incessant revolutions going on in europe at the time. two socialists were walk down a street in london in the 1880’s and saw a beggar one reached into his pocket to give him a few coppers. the other socialist grabbed and told him not to “you will be delaying the revolution!” the job of the liberal establishment and their $15 dollars an hour is to stop you libertarian conservatives from provoking violent revolution on behest of the corporate establishment. simon why are you libertarian conservatives always trying to provoke violent revolution ?
Black unemployment the lowest ever will provoke a revolution? Really? Hispanic unemployment lowest ever. Not much revolution in that. The masses need to be hungry. It may take a while.
And social services used to be provided by private groups. They have more flexibility than groups controlled by law (one size fits all until amended),
(This is in response to a comment that evidently has been deleted.)
censored again by free speech conservatives!
Something happened. I’ll see if I can fix it.
simon black unemployment this is thanks to trumps populism immigration policy as many low paying jobs now available this is not free trade. what g.o.p wanted tax cuts for rich and deregulation we will see how that works out in the long run with debt and love canals and methane coming up to oceans surface.