IntenseDebate - teaparty1776

9 years ago @ Ludwig von Mises Insti... - An International View ... · 0 replies · 0 points

Thorton evades individual rights. Is he high?

9 years ago @ Ludwig von Mises Insti... - Austrians, Fractional ... · 0 replies · +1 points

All I know of economics I got from Alice In Wonderland.

9 years ago @ Ludwig von Mises Insti... - The Unseen Costs of th... · 0 replies · +1 points

>regulating such wage rates hurts economic efficiency

It forces people to contradict the judgment of their minds, man's basic method of survival. Further, in capitalism, there is constantly increasing production and constantly lowering costs. This benefits all, including the least productive workers. The poor in capitalism live much better than the "rich" in all pre-capitalist history. What good is a castle without central heating?

9 years ago @ Ludwig von Mises Insti... - The Unseen Costs of th... · 0 replies · +2 points

>Speaking from a strictly mathematical point of view, minimum wage, reduces labor cost rather than increases labor cost.

Is your alleged math a revelation from the supernatural? Here, in the concrete, material universe, there are no contradictions. Thus minimum wage increases costs. Govt sticks a gun in the faces of businessmen and forces them to pay employees MORE than a voluntary trade between business and employee. Govt forces increased cost. Again, the economics of this situation is not basically important to min wage advocates who want to force business to sacrifice. Without that moral issue, they would not care about wages.

9 years ago @ Ludwig von Mises Insti... - The Unseen Costs of th... · 3 replies · +3 points

I meant that the advocates of min wage believe that business has a moral obligation to sacrifice because they have more money, ie, more values, than employees. The alleged benefit to employees is not the moral issue for advocates.

Are you discussing the values of advocates , economic law, or what?

9 years ago @ Ludwig von Mises Insti... - The Unseen Costs of th... · 6 replies · +3 points

Minimum wage laws exist to sacrifice business. Aiding low-wage employees is a cover for sacrifice.

9 years ago @ Ludwig von Mises Insti... - Austrians, Fractional ... · 0 replies · +1 points

I envision a horror movie: The Stole The Future!

9 years ago @ Ludwig von Mises Insti... - Austrians, Fractional ... · 0 replies · +2 points

>This is basically an endowment of nobility.

Ive never before liked the French Revolution. Can you see Madame Defarge knitting while Fed heads roll?

9 years ago @ Ludwig von Mises Insti... - Austrians, Fractional ... · 1 reply · +3 points

>But £1,000 in a bank, I can still use it and the bank still lends my £1,000 to someone else.

If cows were deposited and the bank attempted to lend the cows while the depositor also had access to the cows, it would run afoul of the Law of Non-Contradiction. Imagine, if you will, the depositor milking a cow while the borrower takes a sirloin from it. Let's see the Fed try to create cows...

9 years ago @ Ludwig von Mises Insti... - Austrians, Fractional ... · 2 replies · +1 points

>The bank never lends your deposits. They create new ones.

Is this bank creation of deposits like God's creation of the universe? And on the seventh day, the Counterfeiter rested.

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