Disspelling Minimum Wage Myth.

It follows that government interference in the market will only create incidents like Wal-Mart's love of regulation. Wasn't it clear from the beginning that the nature of lassiez-faire was to protect businesses, much like the seperation of church and state was to protect churches?

For a more technical question, would abolishing minimum wage at this stage lower consumer prices all over the country?

Jam it back in, in the dark.

Originally Posted by Bradylama

I also don't think the purpose of a "laissez-faire" economic policy is to "protect business." Protecting business is usually the realm of corporate welfare, breaking up strikes with police power, and military adventurism.

It is to protect business, just not in the sense that you mention. It protects a person's right to engage in business, free from the constraints of government. That's what 'lassiez-faire' economic policy is. Corporate welfare and military adventurism favors business above all else. That's like saying that the seperation of church and state is the same as installing a theocracy. Uh, no.

Christ, buddy, you love turning tables on everyone and being a dick, eh?

There's nowhere I can't reach.

Originally Posted by Bradylama

My argument is semantical, and while you can claim that not interfering in exchanges and observing property rights benefits "business," I would claim that it benefits everybody in the sense that all people are consumers, yet not all people engage in business.

Laissez-Faire is the observance of free exchange, not protection of business.

You're right in that it's semantical. I was arguing that, in advocating free exchage, business is protected. So are consumers, for that matter. I guess I have to watch my ass when I throw around words and phrases so that I'm not misunderstood.

But to expand before on my question, I'll skip the original question and go on to the larger issue: if the minumum wage is clearly not the way to go, why in god's name are there so many Keynesians running around? I'm not talking about the average citizen who just likes a pay increase, but the learned economists who love to shout out that our government should index our wage against the cost of living and whatnot. Is America, or rather, the entirety of western civilization so blind?

Past that, how would Americans go about fixing the problems instilled by a minimum wage?

This thing is sticky, and I don't like it. I don't appreciate it.