If they only increased wages…

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    Porphy at it again. Great thorough responses.


    I wonder what Professor Woods thinks of this one, where Ron Unz turns Alexander Cockburn for economic enlightenment.


    “Private companies should fund their own payrolls rather than rely upon substantial government subsidies, which produce major distortions in market signals.”

    Of course this sweeping legislation that changes the min. wage is not at all distorting market signals…noooo not at alllll….


    Porphyrogenitus: You might think that approach would work. But I have tried it. Most recently, the liberal I was talking to simply brushed it aside and told me that I don’t understand the Great Depression. He still hasn’t explained it to me.

    But it is the truth, so it might convince other people, so we have to keep using it.

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