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Why are low wages considered incentives for the poor, but not for the rich ? Am I missing something ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Mar 8th, 2010 at 04:10:07 PM EST
[ Parent ]
A damned good question, but we both damned well know the answer.

Do as I say, not as a do.  The oldest rule in the book for people who want to stay in power when they can't get their shit together, let alone everyone elses.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Mon Mar 8th, 2010 at 04:22:25 PM EST
[ Parent ]
Adam Smith has a pithy section on that. In brief, Smith's thesis is that the conditions that encourage low wages also encourage docile and servile workers. Which enhances the boss' power, though not necessarily his revenue. Bosses being the ones who make pronouncements on the state of business... well, you do the math.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Mar 8th, 2010 at 05:52:35 PM EST
[ Parent ]

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