Posted by Bob on 8/29/2007, 6:20 am, in reply to "Re: Free Markets and Minimum Wage" Free markets are not unregulated. If they were, they would not be free for long. A few powerful interests would seize control, and become an economic tyranny, stifling freedoms, not promoting them. The essence of a free market is to guarantee everyone--- everyone--- free access to the market place. No monopoloy, no oligopoly, no manipulative tax laws to keep newcomers out, no facetious regulation to stifle productivity. Where the liberals get it wrong is that they try to micro-manage the market. Are some jobs paying too little? Okay, raise the wage. From what? To what? From an unlivable $5 to an unlivable $7. Do you think employers will pay $7 for a $5 product? WOULD YOU???? They would go out of business. So they find ways to cut costs. If that means laying off a high school kid, then they lay him off. And the Republicans are just as bad. Since the end of the Reagan era, they have not promoted freedom in the marketplace, but corporate power. Free markets are neither socialist nor laissez-faire. They are free for everyone, small entrepreneur, minimum wage earner, housewife and CEO alike. THAT is what makes for a vibrant economy. Wherever in the world you have freedom, you have comparative prosperity. Wherever in the world you have socialism or right wing tyranny, you have relative poverty. If we wish to help the poor, the first step in that process is a painful one, a dangerous one. It's called freedom.
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Indeed, this is a here-we-go-again, because I have NEVER advocated an unregulated (or laissez faire) economy.
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