I have thought recently that Peter Schiff over on Takimag.com had gone off a bit recently but today he has an excellent post which defines precisely why we have millions of non-working people in developed countries.
In essence, Labour Unions have insisted on minimum wages, which effectively price people out of the first rung of the employment ladder, which means they a) never have the discipline of work b) never learn some skills and c) have no incentive to get off the State handouts. Why would you?
The point he makes, of course, is that the bottom rung of the ladder isn't intended to support a family. Its a first job that young people get - like, as he says, pumping gas or serving table. The gas pumpers are long gone, but the serving table still exists, though here in the UK its usually Poles or Romanians who are doing it. Once you have earned something ( including perhaps self respect) you get a better paid job and then start thinking about supporting that family.
Fraser Nelson has a good post today about how Labour has completely reversed its raison d'etre, creating more inequality, poverty and joblessness, which reinforces Schiff's points.
As Schiff says at the end of his article:
"Since our leaders cannot even grasp this simple economic concept, how can we expect them to deal with the more complicated problems that currently confront us?"
2 comments:
The score system is bizarre as well. You need 15 points to qualify for incapacity benefit and this is counted thus: your speech can't be understood (9 points); you wet yourself at least once a week (6 points); you can't raise either arm sufficiently to put something in your top pocket (15 points); you have a disproportionate reaction to minor events/criticism which makes you become violent (15 points).
WW - I think the last one applies to me....
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