Hi everybody, I come from France and I'm socialist (well...nobody is perfect).
I have read from Friedman his book called "capitalism and liberty". There are a lot of things interesting in this book. I liked in particular the fact he disliked positive discrimination policy which is now imposed everywhere in europe (an idea that comes from US).
But I disagree completly with the overall philosophy of the book.
To make it short, Friedman claims on this video that free market is the answer to almost every problems of the society. In particular for those who have lost their job and can't find a new one due to the minimum wage law. I can't believe there are still people that believe this.
If you let the market decide the level of wage, by example, by removing the minimum wage, then it will be always possible to find someone - because as he doesn't have a job, he doesn't have a choice - who "wants" to work with a lower wage. In system economic based upon the competitiveness you have to fix limits to make sure everybody struggle with the sames rules, unless you want a system in which the social lowest bidder wins.
Seems I wasn't the first to respond. Beaten by another newbie - how ironic :lol: Nice to meet you.Hi everybody, I come from France and I'm socialist (well...nobody is perfect).
Oddly enough in the last video posted, Thomas Sowell and Walter Williams seem to consider that a good thing :shock:If you let the market decide the level of wage, by example, by removing the minimum wage, then it will be always possible to find someone - because as he doesn't have a job, he doesn't have a choice - who "wants" to work with a lower wage. In system economic based upon the competitiveness you have to fix limits to make sure everybody struggle with the sames rules, unless you want a system in which the social lowest bidder wins.
Howdy again ZimmerThe job killing effects of minimum wage and its use as a tool for racists.
Correct me if I'm wrong, but wasn't the only thing he said about the interest of 'government' holding onto minimum wage laws was that it (allegedly) made up one-third of his particular department's budget, or something to that effect? If true, you'd still see some of that kind of petty beaurocratic thinking in any department and government scheme, I imagine - it hardly indicates some grand conspiracy against the people, and nor is it a valid argument against the system itself. Governments are often (usually) imperfect. But again, that doesn't automatically make it a good idea to throw the baby out with the bathwater.Here is Dr. Sowell who was a Marxist and student under Dr. Friedman... as he notes, after one year under Dr. Friedman he was still a Marxist, it was his experience in government that began the conversion. His comment on minimum wage, and the interest of government holding onto it should be illuminating for the Leftists who believe in it.
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