Ray Rider wrote:BOOM!! Welcome to the school of BBS (quite literally).
Really?!? Sit down son, it's time we make a man out of you.
1st of all, none of that sh*t was even a concise argument. Why do you even think that it was? It wasn't even based on reality, just hypotheses that ignore both American history and the current discussion of the minimum wage on capitol hill. Do they teach labor history anywhere anymore, or what?
But let's be straight here: BBS isn't saying anything new or anything remotely profound. What he is doing is espousing first year economics vocabular in an attempt to lend himself an air of economic authority. And I get it, m*therfucker's use some big and unfamiliar words, they make a big bullet presentation, and nobody feels like arguing with them because nobody cares. That's how he get's away with it. But think about his message across the fora, and how it's all one big circular argument.
BBS ON POLITICS"Politicians get votes from people who don't understand how minimum wage laws work." Voters are generally uninformed, which is the underlying problem that is destroying everything.
BBS ON UNIONS AND THE MINIMUM WAGEWith greater risk should come greater reward, however Unions snatch away part of the entrepreneur's reward. Unions use the Minimum wage to increase their earnings and raising the marginal labor product yadda yadda.
Don't you see why BBS' is illogical on point here? The difference between a Union member and a non-union worker is this: Knowledge. Unions know how much profit a company makes, and how much money each employee makes. Thanks to this knowledge, they are able to leverage the employer into sharing a fairer portion of the companies profits with those who create the profit.
So why is it that when Voters don't have information that is really bad, but when workers have information that is equally bad?
BBS' CONCLUSIONS AND HOW TO REPAIR THE SYSTEMFirst, you cannot give people too much welfare, or free money, because they will lose all incentive to work.
Second, you cannot force a business to pay people more money because they will lose all incentive to hire people.
Third, you cannot punish big business without punishing small business/you cannot punish business or they will lose all incentive to invest.
Conclusion: BBS has no solution. Business should stand as it is. Minimum wage should remain at it's 40 year low, at the same time the stock market is making record profits.
As John Adams said of Thomas Paine: The man is great at tearing down ideas, but he offers none of his own.