redneckin
Jump to navigationJust a thought,
but when the government controls the hourly wage rate at the bottom and Executive compensation at the top, how long do you think it will be before the government dictates the wages in the middle and seeks to "equalize" pay between jobs?
posted at 14:51:24 on 11/06/08
by Chuck Myguts -
Category: General
Comments
Richard wrote:
11/06/08 16:23:42
Redoubt wrote:
As I recall, both Nixon and Ford... with his WIN (Whip Inflation Now).
The free market works best when the gears are free to spin. Some things,though, like gasoline, electricity and cable TV (as a few examples) are regulated so the market is not free and, equally, we shouldn't expect them to behave that way.
We've done all of this before, trying to create an artificial market balance where certain things remain at a certain level for the good of all. But everytime we've tinkered, we've made a mess of it.
Oh, and there's also the issue of healthcare that, while not regulated from government, is being controled in much the same way by the insurance industry and... not surprisingly, it works as well (or not) from the private twiddling as it does from the state sponsored version.
What the heck... did I just write an entire post?
Sorry, Chuck. How much do I owe you?
The free market works best when the gears are free to spin. Some things,though, like gasoline, electricity and cable TV (as a few examples) are regulated so the market is not free and, equally, we shouldn't expect them to behave that way.
We've done all of this before, trying to create an artificial market balance where certain things remain at a certain level for the good of all. But everytime we've tinkered, we've made a mess of it.
Oh, and there's also the issue of healthcare that, while not regulated from government, is being controled in much the same way by the insurance industry and... not surprisingly, it works as well (or not) from the private twiddling as it does from the state sponsored version.
What the heck... did I just write an entire post?
Sorry, Chuck. How much do I owe you?
11/06/08 16:58:15
Chuck Myguts wrote:
Any time you feel like slumming, stop on by and post till your hearts content.
During the Nixon and Ford years, I was military and was pretty much insulated from the civilian world.
I remember the wage and price controls vaguely though I do recall that it worked about as well as most government meddling in the market place.
I looked up WIN and found this note
"He (Ford) famously urged Americans to wear "WIN" buttons. That policy too was less than effective, and the buttons, in a history replete with silly gestures by governments, should stand on anyone's top ten list of such silly gestures.
Cynics more thoughtfully wore the buttons upside down and said the inverted letters (which looked like NIM) stood for "No Immediate Miracles." They were right. There was no miracle, just eventual pain and lots of it. Ultimately, Paul Volker defeated inflation, but at the cost of two serious recessions and a lot of economic misery, with unemployment levels over 10% for nine months in 1983. "
What I fear is that the Dims will try to equalize pay between job descriptions to remove any disparity between jobs that are commonly held by women and jobs that are commonly held by men
During the Nixon and Ford years, I was military and was pretty much insulated from the civilian world.
I remember the wage and price controls vaguely though I do recall that it worked about as well as most government meddling in the market place.
I looked up WIN and found this note
"He (Ford) famously urged Americans to wear "WIN" buttons. That policy too was less than effective, and the buttons, in a history replete with silly gestures by governments, should stand on anyone's top ten list of such silly gestures.
Cynics more thoughtfully wore the buttons upside down and said the inverted letters (which looked like NIM) stood for "No Immediate Miracles." They were right. There was no miracle, just eventual pain and lots of it. Ultimately, Paul Volker defeated inflation, but at the cost of two serious recessions and a lot of economic misery, with unemployment levels over 10% for nine months in 1983. "
What I fear is that the Dims will try to equalize pay between job descriptions to remove any disparity between jobs that are commonly held by women and jobs that are commonly held by men
11/06/08 20:32:56
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I was tween/teenage then, so don't remember how that turned out.