Posted tagged ‘Automation Replaces Minimum Wage Workers’

Must Reads For The Week 7/9/16

July 9, 2016

We Will Comment On Hillary and The Shootings In Dallas In A Few Days

Thinking Beyond Stage One, by Walter E. Williams, at jewishworldreview.com. The unintended consequences of tariffs and trade restrictions (please read this Mr. Trump). Excerpt from the article: The question that should be put to those calling for restrictions on imports is: In an effort to save jobs in one industry, do you care about or even know of its cost and disastrous effects in other industries? When Congress enacts a miracle for one group of Americans, such as steel producers, it creates a non-miracle for another group, such as steel- using producers.

What The World Looks To Someone Who Doesn’t Understand Economics, at cafehayek.com. Here are some excerpts from the article: “.….defense of the minimum wage is strong evidence that the world does indeed include people who really do believe that government-officials’ stated intentions determine the outcomes of government actions.” Always remember the limiting factor of any central planning by government, the amount of knowledge the bureaucrats can bring to bear on any situation isn’t even one tenth of the knowledge brought to bear by millions of individuals competing in the free market.

Smashing The Minimum Wage: robot Made Burgers Coming To San Francisco, at economicpolicyjournal.com. When the cost of labor is mandated to be higher than it would be under normal market conditions, Employers (economic forces) try to correct the intervention in a couple of ways. Since they have to pay more, why not pay even more to a person who can produce as much as two people. Another is to use automation to replace the now too expensive employee. Mandates don’t happen in a vacuum. Two Of The Worlds Largest Employers Are Replacing Workers With Robots.

But Why Aren’t People Buying Electric Cars? at theburning platform.com. The auto industry can’t figure out why ‘stupid’ consumers won’t buy electric cars. Could it be because the cost of owning and operating an electric car (even with all the Gov. subsidies) is higher than owning and operating a gasoline powered car? Maybe the consumer is smarter than people think. Read – Electric Car Sales Crash Into Economic Reality.

Brexit Shows Why Central Planning Won’t Work, by Jason Morgan, at mises.org. Excerpt from the article: “As Ludwig von Mises demonstrated in Human Action, it isn’t that economic interventionism and central planning might not work, it’s that they cannot work. Why? Because we simply do not have the ability to predict human action in the future, either in the immediate future, or in a more intermediate future.” Unfortunately for us the solution to the failure of these tyrants politicians and bureaucrats plans is more of the same thing that failed.

Here We Go Again: An August 2007 Redux, by David Stockman, at mises.org. When central banks try to stop market corrections by printing money via credit expansion, they end up creating bubbles that will eventually have to be liquidated. Of course they will try to stop the market correction that was a result of their attempt to stop the first market correction. The dog chasing it’s tail.

Murray Rothbard vs. EU 1989, at economicpolicyjournal.com.

 

Americas Radical Revolution, by Murray Rothbard, at mises.org. Rothbards take on the American Revolution.

This Is A Toilet” US Rowing To Use Sewage Proof Suits At Rio Olympics, at zerohedge.com. People have asked me why the Olympic committee would have the games at a place like this. Why? Because the Olympic committee is probably just as corrupt as FIFA was with the world cup. The pollution at the Beijing Olympics four years ago was probably just as bad.

Sharp Shooting Army Vet Saves Bald Eagle Stuck Upside Down In A Tree, at tammybruce.com. A young eagle was caught in a rope dangling from a tree. An army vet shot the rope and freed the eagle. The army vet was initially worried he might get in trouble for shooting at an eagle if he attempted to shoot the rope. With the way the legal system is today, I think his fears were justified.

Must Reads For The Week 10/25/14

October 24, 2014
The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

Minimum Wage Increase Blowback: McDonald’s Plans Major Automation By Third Quarter Of Next Year, at economicpolicyjournal.com. You can’t raise wages above what the labor produces. Why do you think private sector union labor was 35% of the work force in the 50’s, and it’s 7% today. Unions priced themselves out of the market. They are now focused on unionizing Government workers, because politicians will always give in to their demands for more tax payer money.

Wal-Mart That Economic Wrecking Ball, at economicpolicyjournal.com. Wal-Mart gets slammed for supplying consumers with products at lower prices.

The Affordable Care Act Will Push More Women Than Men Into Part-Time Work, at economicpolicyjournal.com. Talk about your war on women?

Pipe Lines Pose Fewer Risks Than Compared To Transporting Oil By Rail Or Truck, at fraserinstitute.org. I think it is funny when environmentalists paint themselves into corners when they think they are making the “environmentally correct” decision. Unfortunately they don’t understand that when it comes to making decisions, there are no solutions there are only trade offs.

Quotation Of The Day On The Moral Case For Fossil Fuels, by Mark J. Perry, at aei-ideas.org. Our current standard of living was brought about, and is presently powered by fossil fuels. The only type of power that can compete with carbon based fuels is nuclear energy. Unfortunately we have been brain washed into being afraid of the word nuclear, we won’t even consider it as an alternative energy source.

Hacking Higher Ed. With Competency-Based Education, by Joanne Jacobs, at openstandard.mozilla.org. I saw this at carpe diem blog. Big college’s monopoly in higher education is going to start to crack. The best teacher in a particular subject can teach an unlimited amount of students online, why would you want a countless amount of average college professors who can only teach the limited number of students who attend their classes.

Fed Up With Govt. Misconduct, Federal Judge Takes Nuclear Option, by Sidney Powell, at observer.com. Eric Holder’s  Justice Department used false evidence to accuse Sierra Pacific of starting a wild-fire. Chief Judge Morrison C. England Jr. ordered every federal judge from the Eastern District of California to recuse themselves. The $55 million settlement will probably be set aside because of the misconduct. Why would anyone trust Government bureaucrats to do their job in a non political and unbiased way?

Google vs. The Entire News Industry: And The Winner Is…. at zerohedge.com. This is the creative destruction of the free market happening before our eyes.

Citizen Pulls Cop Over Gives Warning, youtube video. I don’t know if this guy is right. I am impressed with how both acted in this situation. Both were respectful and neither one escalated the situation to a point that it got out of control.

Predatory Journalism, by Thomas Sowell, at jewishworldreview.com. Anything Thomas Sowell writes is a must read.

 

This cartoon is really about big bloated Government in general not just the present administration. Republicans wouldn’t be able to make the present bureaucratic and regulatory mess work more efficiently. Even if they could, they would just be intervening in every aspect or our lives more efficiently. (I saw this at zerohedge.com.)

 

 

 

 

 

 

 

 

 

 

 

Two quotes about the incompetence of big Government.

Murray Rothbard – “Bureaucracy incompetent enough to plan a stationary system, is vastly more incompetent at planning a progressing one.”

George Gilder – “The ambitious agenda of contemporary liberalism simply ensures that Government will do nothing well, except to expand itself as an obstacle of growth and innovation. Government best supports the future by refraining as much as possible from trying unduly to shape it.”