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Prometheus 6

All respect and no restraint

The Wisdom of Einstein

The Christian Science Monitor has an editorial titled The heartland votes for its economic interest which proves Einstein was right when he said things should be as simple as possible…but no simpler.

This analysis is simpler than possible.

Well-paying jobs
In the vast majority of cases, rising wages don't result from labor union agitation. Rising wages result from labor scarcity. If enough businesses are established so that there is an abundance of jobs, business owners have a harder and harder time finding and keeping workers. They are forced to compete against other businesses for workers. They do that by raising workers' pay and/or improving their benefits.

A key to raising wages, therefore, is to have lots of businesses. That's done through business-friendly policies such as lower taxes, fewer onerous and expensive regulations, and keeping the trial lawyers at bay. Guess which party scores better in that regard?

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