Not always low wages: What Walmart’s pay-rise experiment says about the future of low-wage work | The Economist Is this what Walmart is doing? It doesn’t seem so. Instead the firm appears to be trying to raise worker quality, both by attracting better applicants and by using higher pay to encourage existing workers to enrol in training courses. These aren’t efficiency wages; better workers can earn more on the labour market. Neither would it be good for workers generally if every firm decided to pay efficiency wages, which only work if firms can draw on a pool of surplus workers and workers can’t do better by quitting and going elsewhere. There is not a free lunch to be had here, sadly.
Do women civilize men? Of course. And men civilize women | Crowhill Weblog If men and women followed their natural desires, we’d be in a pickle. Putting it very briefly, men want to have sex with as many women as possible — and they’re not all that picky about with whom. They also don’t want to be tied down. Women want to have children with men with good genes and find somebody (not necessarily the guy with the good genes) who will help them with providing for and protecting their children. In the old days that meant a “provider” type of a husband. Nowadays that means a socialist government.
Bonus Quotation of the Day… – Cafe Hayek For example, John D. Rockefeller, Sr., is to this day called a “robber baron” and is thought by many to have been an anti-social scoundrel as a businessman. In contrast, Teddy Roosevelt has his face carved famously into a mountain and is widely celebrated as a great and “Progressive” seer. How mistaken and backward! During any one ordinary day of his business career J.D. Rockefeller produced more net good for humanity than Teddy Roosevelt did over his entire lifetime. Indeed, the case is even stronger for Rockefeller: he was without question a huge net contributor to humankind; in contrast, T.R. was quite likely, on net, a wrecker.