First Annual Keeping the Poor Man Down Meeting - Part 2

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Uploaded by on Aug 7, 2009

Just a bit on minimum wage:

Peter Schiff Video: http://www.youtube.com/watch?v=I_IMuxMXd3E

Milton Friedman Video: http://www.youtube.com/watch?v=ca8Z__o52sk

Should be understandable by anyone with the most basic economic knowledge.

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Uploader Comments (MotionFur)

  • Good job Motionfur, it was a very well made video!

    Didn't know you watched Stefbot?

    lol- at the Ragnarok characters :p

  • Stefbot is one of the guys who first opened up my mind to anti-statist ideas, before him there were still some emotional hurdles to get over.

    Stef has some really good stuff, and some really crappy stuff. But, that pretty much applies to everyone, no?

    But yeah, I played assassin cross back when I played Ragnarok, and I just gave nick the blacksmith sprite. :3

  • heh, nice emotional appeal at the end. Seems we forget theirs two halves that need convincing in each head.one that needs convincing 1+1=10, an the other to feel good their doing the right thing

  • Thanks :3

  • So it might seem the rational outcome that employers will not try to exploit labour, and labourers will not allow themselves to be exploited, but history has shown us that is patently false. People are not that rational, purely rational economics is failure.

  • "but history has shown us that is patently false"

    History shows us a bunch of governments fooling around in the economy and creating most, if not all of those situations.

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  • 1 star, unsubscribed.

  • Actually, same here. I originally thought Stefbot was crazy until I watched more of his videos. I mean, trying to sell you that Anarchy is better than Statism is quite a leap. My problem with Stefbot is... I never have time to listen to him fully, and if I do, I generally cannot take all the information in. Bite-sized chunks would do him well.

    Yea I was a crusader and a blacksmith most of the time :D

    Good times...

  • Well in the face of monopsony, (pos. valid in the case of unskilled workers) exploitation is expected and minimum wage has a possibly different effects than suggested, however i'm clearly no expert so you'd have to verify that yourself, assuming you haven't already.

    However if welfare can sustain people(?) then it might be that the cutoff above isn't truely real since the state stops you reaching it?. The fate of those near the value is still poverty (e.g. $3.75/hr) but other things can be used

  • Nope

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