Legislating the Laws of Economics
I noticed on the Roby Brock business talk site that manufacturing jobs in Arkansas took a record month-over-month loss, and that we have lost close to 7,000 manufacturing jobs in the last year. This state is hemorraging manufacturing jobs. But don't worry, our legislature has mandated a non-free market increase in the minimum wage! They are mandating by law that wages have to go up, but they can't seem to mandate by law that the manufacturers have to stay around and pay the new wages. Do you feel better knowing that you WOULD have made more money at that job if your employer hadn't left the state?
Oh, but that is not all our elected leaders have done to "help". They have grown government. So much so that government jobs now outnumber manufacturing jobs in this state by 20,000! And even some people that are obstensibly in "the private sector" like me, are selling products in conjunction with the government (medicare part D prescription drug plans). Statist politicians seem to think we can all make a living delivering government services to one another. They seem more focused on growing government rather than creating a just and friendly general climate for business.
Now some of them are posturing and chest-pounding over their bills to stop "predatory" payday lenders. The bills contain penalties for people who charges more than 17% interest, including fees. But don't worry, it is only "predatory" when check-cashing services do it to poor people. "Financial Institutions" (Bankers) would be exempted from the law! Apparently if you are high-class enough, it is not "predatory" to charge more than 17%!
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