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What precedes every rule of economics?Originally posted by jhskiier:
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Capitalism is the only economic system that has lifted the masses out of poverty.Originally posted by bobhawg:
The trouble is that there is no magic formula to provide all people with a nice standard of living. But I personally feel that we should all try to get an economic system that does the best for the largest number of people. The robber barons of past cared not for anyone else, and the extreme left today feels there should be no wealthy people, both concepts are wrong, but how we get a good balance is not all that easy.
But at the present time in the US, I feel the minimum wage needs to be increased. Frankly if a business cannot afford to pay a person ten dollars an hour, why would they need them? I would assume a business owner would not hire a person if that person could not produce far more revenue than ten dollars per hour.
I understand.. and agree.Originally posted by bobhawg:
I might question the last line there Ham, in this neck of the woods there are a lot of elected officials who ought to be in jail but are not. Not to mention most of the US congress. But that is not economics, it is graft.