Robert Reich's F Minus In Economics: False Facts, False Theories
Robert Reich's F Minus In Economics: False Facts, False Theories
Robert Reich peddles a bunch of stale, Marxist talking points, including the groaner about Henry Ford raising wages so his employees could buy his cars.
''My F grade is also not based on Reich’s politics, which are quite different from my own. I award it instead for Reich’s incorrect facts and his embarrassing misunderstanding of basic issues about which economists agree.
In Reich’s liberal vision, it is not Henry Ford, Gordon Moore, Jack Welch, Warren Buffet, Bill Gates, Steve Jobs, and hundreds of thousands of medium and small business owners “who make the basic bargain at the heart of America.” Instead, it should be the federal government with progressive taxes, minimum wage laws, and pro-labor regulatory agencies that gives us a prosperous system that, in President Obama’s words, “spreads the wealth around.”
Oh but you'l see his dopey ideas echoed by the Dem klown Kar. Fo sho!
Score, Reich.
If we want to encourage higher pay from companies then incentives need to be put in place to pay more.
Part of the start was lowering corporate taxes.
next is to just start offering more incentives for non-executive pay.
You can't encourage higher wages from corporations. Wages are considered a cost of production equal to the cost of materials and energy and infrastructure and outsourced parts and like every other cost of production corporations will always seek to keep them at a minimum. That's a fact of life. Lower corporate taxes if you want- there's other reasons why that might be a good move (emphasis on 'might') but it won't encourage higher wages.
Fact is, free market principles apply to wages, like everything else.
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