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I would have to argue that for millenia, there were no minimum wage restrictions placed on the price of labor and yet, the price of labor fluctuated according to supply and demand freely. This is evident through the numerous examples provided by Adam Smith in his "Wealth of Nations," among countless others. I think to state that there is no
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Xevec, Whoever it is that you are speaking to here is feeling personally attacked and insulted, which does not lead to a positive environment of mutual pursuit of truth. The author seems to be striving to find points upon which to disagree with you, which is typical of defense. The truth is, I think there is a lot more agreement between you two than
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And don't forget about the Wolfowitz Doctrine that got watered down to hide the real American agenda. The US is fearful of the former Soviet Union's present capacity to US world power. If you haven't heard of it, click on the link and read the Wikipedia entry.
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I believe it is safe to say that Japan has not yet felt the full effect of their economic mismanagement. The full effect has been deferred by US support for the Japanese economy through massive American imports, and that will all end when the American economy falls apart, and Japan will then feel the full effects of its imprudence.
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There's a lot of blame-gaming going on here, and I'd like to set the record straight on who's to blame, because every member of the game has their share of responsibility. The Players: The Federal Reserve, Commercial Banks, Businesses, Consumers, the US government, and various foreign players. New American Standard Credit Cycle 101 -- The
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If the derivatives mountain ever falls, I think the words you are looking for are "global economic catastrophe," not "recession." The entire economic foundation of the world (the US dollar) would be completely undermined and worthless and the global economic structure would have to be redefined (unfortunately, probably resulting
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Nobody except the small business owner seems to have any problem with raising the minimum wage. The minimum wage recently increased from $5.15 per hour to $6.50 per hour in the state of Missouri by a 72% majority vote! It seems that very few understand the negative repercussions of artificially inflating wages. It is truly no surprise that it is easy
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It is an interesting question whether the usurpation of wealth from the people to a centralized banking system is intentional and planned by an "elite," or whether it is simply a natural consequence of Darwinistic Capitalism and the selfish orientation of that economic system. I expect we can know the answer if we stop watching the mainstream
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Well put. It seems as if the problem does not lie in the system itself, but in we the people who have authorized it through the outsourcing of personal consequences to a communal pot, creating a system where we cannot feel the pain of our poor decisions today (which initiates immediate positive behavior change to mitigate the pain), but instead we can
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However, if the only way to reverse the perpetual default of debt by the villagers is to sell goods and services to the bank, won't this create a perpetual transfer of wealth to the banking system to avoid perpetual default? If the villagers are only selling products and services to the bank to counteract the excess interest due relative to the