Power of the Market - Welfare

Milton Friedman explains the dynamics of welfare (8 of 30) http://www.libertypen.com

Source: Free To Choose
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[2dum2getsocialism]

remember, the minimum wage permanently keeps a certain percentage of the potential workforce from ever entering the job market

in california, for example, the minimun wage is 8 dollars

therefore, i am unable to hire somebody to come into my small business and do some light work for, say, $5----> then develop some skills that would make his work worth $10, say with some new added responsibilities as well as the original job ($5) requirements

[mooeythemooseman]

@gucylucy24

You are gonna be shocked to hear this, but if you remove the minimum wage, involuntary unemployment would disappear overnight.

They might be living off fuck all, but if you are in the system. You can climb the system. It beats sitting on welfare.

[spark300c]

@gucylucy24 well be happy that you do not live in Greece where whole country went over board with welfare and is going default. however Ireland is welfare state it has high risk of get too much debt too. U.S.A it is the same. every one in government refuse to cap spending and do not report welfare spending.

[spark300c]

@azmildman I do not really think the church want third world counties. after all the church support education.

[schmoukiz]

"Mr Brown knows" lol

[cozmoz365]

@mooeythemooseman Not true, if someone feels like they are better off on welfare then they are working then they will stay on it. As he mentioned in the video, support should be removed slowly. This will allow people to enter temporary work without the fear of being cut off completely. Also if you remove the support slowly it will give people the support they may still need while working in low payed jobs.

[gdbalck]

@2dum2getsocialism A point of fact lost on way too many, most of which approve of the minimum wage.

[Moionfire]

$5 a month!!! 

[dwightbe]

@mooeythemooseman Milton Friedman's idea is based on the assumption that the people know what's best for them and what they are entitled too. The truth is, those in power will take advantage of the people and only give them just enough to get away with so that there is no revolt, and keep the majority of production for themselves. This is why we have unions, they are a function of the market, contrary to what Friedman believes. They function to inform people that they are being taken advantageof

[TheMarksmenCat]

@2dum2getsocialism Yea, I cant even find a goddamn job because of the minimum wage here in Canada, and altough I surely would have loved to get paid 9,65$/hour, I dont give a damn since I can`t get one. The lucky ones that got a job are being spoiled.

[seeqr9]

@mba2ceo I have similar dreams hopwever I would teach the children that "humanity" and "society" r not a single thing to b served but are a collection of individuals. Individuals educated to b wise and logical will prosper and need to b "served" very little thus enabling them to serve those truly in need. Voluntarily of course. This would help the maximum amount of individuals even if it didnt look as warm n fuzy as "sacrificing" all u have for others or as "heroic" as steal from "the rich" etc