February 22, 2007
Obama's Antique Economics

Thomas Sowell explains:

Senator Barack Obama recently said, "let's allow our unions and their organizers to lift up this country's middle class again."

Ironically, he said it at a time when Detroit automakers have been laying off unionized workers by the tens of thousands, while Toyota has been hiring tens of thousands of non-union American automobile workers.

Labor unions, like the government, can change prices -- in this case, the price of labor -- but without changing the underlying reality that prices convey.

Neither unions nor minimum wage laws change the productivity of workers. All they can do is forbid the employer from paying less than what the government or the unions want the employer to pay.

A bit of liberal same old/same old - Sowell goes on to note that Obama's "solution" to the problems of education is to throw more money at it. Conservatives are said to hold to an idealised vision of the past - but what can we say of a politician who is merely rehashing the abysmal failure of the 1960's "war on poverty"? This is the fresh, new face of the Democratic Party....and the pathetic thing about it is that it amounts to a black Lyndon Johnson.

Posted by Mark Noonan on February 22, 2007 02:07 AM
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