honesty, maybe, but how refreshing is it? It's standard Milton Friedman: the only obligation that business has is to maximize their profits. If we allow them to do this, he suggests, then we'll achieve the best of all possible worlds, including lots of jobs. (Of course, the Fed has to increase the money supply at a constant rate to allow the jobs part.)
On Fri, Feb 11, 2011 at 9:09 AM, raghu <[email protected]> wrote: > http://www.businessinsider.com/obamas-olive-branch-still-looks-like-a-stick-2011-2 > ------------------------------------snip > When the president talks about giving workers a great share of “the > profits,” he destroys business confidence. Workers are entitled to > fair wages based on the value of the labor they contribute. Profits > belong to owners. If the Obama administration cannot understand the > difference, it is a threat to any responsibly-managed business, and > the president will fail in his efforts to encourage responsible, > prudent managers to invest under his watch. > > He does no better discussing “shared responsibility” to keep Americans > employed, and his remarks on the subject demonstrate that he does not > understand business fundamentals. Employment is a side effect of > having a successful business; it is not an objective. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Jim Devine / "Living a life of quiet desperation -- but always with style!" _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
