In response to:

Mandated Wages and Discrimination

MatthewlovesAyn Wrote: Mar 06, 2013 8:12 AM
The scariest things about your posts are that I think people on the left; read them, believe them, implement them. Or maybe you just watch the news and are able to glean their thoughts. Either way, it's a scary ride into the liberal mind.

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....