From: Brian D Williams (talon57@well.com)
Date: Wed Aug 29 2001 - 14:06:01 MDT
From: "Jerry Mitchell" <jmitch12@tampabay.rr.com>
>Maybe then you can clarify the exact point in time and space that
>"Stock options" and the days that are above the minimum were
>fought for and achieved? While you at it, find out where they were
>forced to pay for my relocation to a new city for this job.
>What about my company bonus? When did the evil business owners
>collapse to the demands for this?
Sure, glad to help....
The shift in the time-space continuum you refereed to occurred in
Chicago on May 4th 1886.
Without this occurring we probably wouldn't even have minimum wage
yet.
>Like I said, this "modern labor shortage" could have been reached
>MUCH earlier if the market for labor wasn't distorted by labor
>unions trying to artificially raise their pay rates above market
>value.
So you said. now try applying modern economic theory and give us a
proof.
>Only by controlling the supply of labor by force. What if a
>factory was forced to pay people 3 dollars and hour, and they were
>forced to do so by the union. Then here I come in. I need a job so
>I tell the company Ill do the work for 2.50 and hour. The supply
>just lowered the value of the labor, but wait, they cant hire me
>at that rate, the union wont let them. Too bad too, the company
>had enough money budgeted in to accept me at that rate, but cant
>afford me at $3. Guess Ill just have to go tell the kids no food
>this month. If you drought this happens, look at the people
working >in the automotive companies making 50K a year for bolting
on >wheels. Now THATS insanity. The work isnt worth whats being
paid.
Funny how you don't blame the company for not hiring you at $3.00
an hour when they accepted your offer at $2.50.
You claim tire installers are making 50K? how about some proof, and
by the way if it wasn't worth it the company wouldn't pay it....
>So lets just get them to throw a monkey wrench into the company
>machinery, that ought to help create wealth a lot. Maybe their
>related to those Luddites?
They're on the picket line, nowhere near the machinery...
>Technical shortcomings of capitalism? Like what? The fact everyone
>wasn't millionares overnight? I hope you didnt expect capitalism
>to magicially make everyone wealthy instantly, it takes time to
>build trade up to the levels they are now.
Like given that without government intervention companies can form
monopoly/monopsonies and completely distort the prices in a market.
This has happened previously.
Lets try a modern day example. Suppose Microsoft was the only
software company in the world. Do you think anyone would be getting
stock options and bonuses or relocation allowances, or would
programmers be working for minimum wage.
>Let me summerize this in 2 points.
>1. Labor unions OR buisnesses dont controll the price of labor.
Either a monopoly or a monopsony can control the price of either
goods or labor.
>2. Distortions in the market create inefficiencies and ultimately
>slow down wealth creation.
Agreed, and either a monopsony or monopoly can create such
distortions.
Brian
Member:
Extropy Institute, www.extropy.org
National Rifle Association, www.nra.org, 1.800.672.3888
SBC/Ameritech Data Center Chicago, IL, Local 134 I.B.E.W
Disclosure notice: currently "plonked"
"Joe Dees" <joedees@addall.com>
"Party of Citizens"<citizens@vcn.bc.ca>
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