In Making Globalization Work, Joseph Stiglitz fails to make a good case against liberalization. Instead, he further underscores liberalization’s importance in global development, and instead misidentifies mercantilism as ” capitalism”.
Posts Tagged ‘labor’
Is It Fair to Lay a Worker Off?
Labor laws regulating how a business can fire its workers should be eliminated. Otherwise, government is actively discriminating against those who deserve the job.
Why I Don’t Accept Pay Raises
My low hourly wage rate makes me an attractive employee. By accepting a higher wage rate I decrease my appeal by that much, meaning that it would make far more sense to remain relatively cheap. Unfortunately, minimum wage laws have disallowed me to reduce my wages even further, to remain competitive in a market with a labor surplus.
Minimum Wage Welfare
The minimum wage has not guaranteed the same standard of living throughout the ages. Compared to employees in 1956 and even the 1970s, minimum wage earners make less today. The problem is not that there is too little welfare, it’s that there is too much welfare. The government is running the printing press to afford it, and it is inflating the dollar.
The Economic Role of Saving and Capital Goods
Ludwig von Mises on saving, capital goods and investment. Von Mises covers the effects of consumption and unions on the entrepreneur’s ability to invest capital to lengthen and widen the stages of production. He concludes that these interventions lead to greater impoverishment.
