Home Forums Principles of Economics Minimum wage and power imbalance Reply To: Minimum wage and power imbalance

  • Gerald

    May 28, 2021 at 06:31

    Zaher Kamel

    Not to fault your logic. I wanted to bring up another ramification about letting people suffer until they rise up and demand change. Perhaps this is the most merciful way.

    Unfortunately, it is very likely that when the downtrodden rise up, they will not ask for hard money or government/business living within their means. A much more likely outcome is an increase in populist sentiment tending toward socialist solutions. This is another kind of death spiral, and I am confident that this is exactly what will happen in the USA. (Where I live.)

    If we don’t end up with another fascist president, the next likely option is a hard left socialist president.


    Having said that my question is this. Can we (cognosenti, ha, ha!) advocate for a third way that leads to a softer landing?