"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Economist's Wishing and Hoping Won't Make a Minimum Wage Effective
Submitted by Westernerd on Thu, 2013-02-21 04:00
Anything the government does via regulation or law is basically a price fix, transferring wealth from those who have generated it to those who have not and won't understand its deployment. Government, unfortunately, is force and human beings don't react well to force and tend to change their behaviors, as has been amply documented by the Austrians in free-market economic theory. Human action is not a hypothesis but an observation.
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