Professor Elam

Monday August 12 2013

Like all Central Planners, Henry Blodget would like to wave a wand and change behavior. He seems to be arguing for higher minimum wages in this article. The fact that corporations are seeking ways to avoid hiring employees is not the problem but theoutcome of more and more central planning and demands. Take a look at the Tesla video I posted this wekeend, the robots are doing most of the work. 

Demanding that all full time employees get health coverage has now resulted in more part time jobs than ever. Not knowing what the government is liable to mandate next, every employer has pulled back hiring, Employees have become unended liablities rather than assets. 

The idea of a one size fits all minimum wage has only resulted in our doing more things for ourselves, not higher wages. And why should someone in downtown New York City be paid the same as someone in Little Rabbit Arkansas? The real result has been 

now you pump your own gasoline

now you do your own transaction at an ATM

now you shop on line

All of these have eliminated more or less boring jobs but they were jobs nonetheless.