On 08/17/2012 11:57 AM, Han wrote:
Tim Daneliuk wrote in
:

On 08/17/2012 10:25 AM, zzzzzzzzzz wrote:
Effort doesn't count. The only thing that count is*results*. Some
work hard as hell and accomplish nothing (or less), other create
wonders with apparently no effort.

That's not actually even quite right. Absent fraud, force, or threat
(either in the private sector - unions, thugs, criminals - or by
government - laws, regulations) the price of labor is set by the
relative supply to the demand.

For example, pretty much any able bodied person can dig a ditch, so
this doesn't pay much ... well, it does now because of the distorting
forceful effects of unions.

OTOH, there is a very small supply of neurologists in the country and
they get paid many, many multiples of what ditch diggers do. (Expect
this supply to further decrease as the We-Know-What's-Good-For-You
crowd tries to implement their insane "social justice" perversions.)

All things (results) being the same, if the situation were suddenly
reversed and there was a shortage of able bodied ditch diggers and a
surplus of neurologists, their incomes would invert.

For anyone reading this thread that is interested in a good grounding
in economics written for the non-specialist, I highly, highly
recommend this book. It is a classic and flattens a lot of the social
justice boobery heard these days even though the book itself is
apolitical:

http://www.amazon.com/Economics-One-...nderstand/dp/0
517548232?tag=duckduckgo-lm-20

Not necessarily apolitical. It is (according to Amazon) written by a
disciple of Ron Paul-like philosophies. Since it is thus likely anti-
Keynesian, it is prejudiced in ways opposite my prejudice.




It is not "anti Keyesian" (but Reality is as the past 3 years demonstrate).
It is a primer in economic basics.

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Tim Daneliuk
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