Edgar the Exploiter

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The sequel to the critically acclaimed "George Ought To Help" Video. This video provides an "Austrian" or "Free Market" perspective to the effects and unintended consequences of government economic intervention.

Website: http://georgeoughttohelp.com/
Original Link: http://www.youtube.com/watch?v=IFbYM2EDz40
George ought to help to link: http://youtu.be/PGMQZEIXBMs

Category:

Education

Tags:

• Edgar
• the
• Exploiter;
• Voluntaryism;
• Anarcho-Capitalism;
• Ron
• Paul;
• Austrian
• Ecomomics;
• Murray
• Rothbard;
• Mises

[bitbutter]

Thanks for the re-post! If you could add a link to the original that'd be great.

[AnCapChase]

@bitbutter ok will do!

[AlexanderBartlett]

Yes passing laws is a great way to stop white collar crime. Libertarians doing exactly not what said on the tin :)

[bitbutter]

@honorific88 "but it's completely ignoring the fact that even without market regulation the lower class will be getting screwed one way or another."

The poor will always be materially worse off than the wealthy, for sure. But their situation is likely to improve relative to what it is now. That's because the wealthy (and politically connected) are currently able to buy regulation to protect their wealth, at the expense of everyone else.

[honorific88]

I understand the message this is trying to put out, but it's completely ignoring the fact that even without market regulation the lower class will be getting screwed one way or another.

[akpancake]

Fact: when the min. wage is raised, prices go up on everything . The biggest impact on society is inflation. while the min. wage is increased, fixed income peoples money is worth less, because they did not get a raise, and all the money that you have in the bank is worth less. It is a no-win situation for all. Minimum wage jobs are intended to be stepping stone jobs, not carreer choices with visions of health or retirement benefits. It's really a simple truth, why can't people see it?

[bestiaccia]

Very good!!! 

[rondrosz]

@stopglobalswarming In most states, servers of food and alcohol are paid less than minimum wage on the assumption that they will be tipped. In addition, the government expects that you will receive a 15% tip and tax you accordingly - whether they receive that tip of not, they pay the taxes on it.

[stopglobalswarming]

@MeanMachine48 I thought a tip was "voluntary" lol. Esp when the worker is guaranteed minimum wage by the government already.

[MeanMachine48]

San Francisco wants to implemented a mandatory 25% Tip rate at restaurants. Just like min wage law. When you put a price floor in place people will be less likely to buy the good or service.

The laws of supply and demand always play a role, with or with out the involvement of the state. The more you charge for anything the less demand you will have,

People are less likely to hire you with a price floor like minimum wage. People are less likely to buy your good or service with a price floor.