In response to:

Mandated Wages and Discrimination

JediJoe Wrote: Mar 06, 2013 8:36 PM
Liberals don't care. Liberalism is about good intentions, not results or outcomes. That's why liberal programs ALL fail 100% of the time. That's why this incompetent President and his team of illiterate economic buffoons are ruining the country. Results mean nothing to a liberal who is perfectly happy destroying the country as long as their intentions were "good"...

Let's work through an example. Suppose 100 yards of fence could be built using one of two techniques. You could hire three low-skilled workers for $15 each, or you could hire one high-skilled worker for $40. Either way, you get the same 100 yards of fence built. If you sought maximum profits, which production technique would you employ? I'm guessing that you'd hire one high-skilled worker and pay him $40 rather than hire three low-skilled workers for $15 each. Your labor costs would be $40 rather than $45.

Suppose the high-skilled worker came into your office and demanded $55 a day....