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RE: SICK PROFESSION

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Bill:

I am sure your facts (can you cite a source, BTW, or is "99%" or "one-half
of one percent" really your opinion) are a real comfort to those 1% who
are not high school kids and might be depending on that minimum wage job
to put food on the table.  Beside, I am not just talking about minimum
wage jobs.  There are jobs slightly above minimum wage that still really
don't fulfill people's minimum monetary needs for the necessities of life.

But, all that is not really my point.  The real point is that the
invisible hand of market forces/capitalism cannot fix/solve everything.
It can (at some point) put a stop to "bad" things, but it has no deterient
value.  If all that was in place to deal with the Enron scandal was the
invisible hand, do you think that would really stop anything? Nope.
Potentially corrupt (not too much has been proven yet in Enron) would pay
"games" with the books to make themselves some rather good money, but then
when the invisible hand closes in, they just head off into the sunset with
the money that they made, ignoring the fact that the company may be toast.
And then how does the invisible hand deal with CEOs that essentially are
really worth what they are getting paid, but have "experience"?  The point
is that the invisible hand cannot catch everything and in fact missing
quite a bit.  In addition, it does not always "fix" problems, but rather
usually just stop the problem from continuing.

That is where government has a role.  Government makes sure (or at least
makes an attempt to) that public companies cannot "hide" things from the
investors so that things look better than they really are
(note...government failed miserably in this regard on Enron).
There are many other areas like this that lie outside of defense, police,
and safety that government does and should have a role in.  Does
government overstep many times?  You bet.  But that does not mean that
government should get completely out such things.  It just means that we
the people must keep an eye on what government does and call it to task
(by voting) when it does.

Regards,

Scott
Ypsilanti, MI



On Wed, 12 Nov 2003, Bill Polhemus wrote:

> 99% of those who make minimum wage are high school kids.
>
> This is one of those silly, vapid issues akin to hand-wringing about women
> needing abortions for reasons of health when such abortions make up about
> one-half of one percent of all abortions.
>
> The Federal minimum wage laws are patently unconstitutional and have been
> shown to be an economic DETRIMENT to "poor workers," rather than a help,
> because they assure a limit on hiring on the part of employers.
>
> William L. Polhemus, Jr. P.E.
> Polhemus Engineering Company
> Katy, Texas USA
>
> -----Original Message-----
> From: Scott Maxwell [mailto:smaxwell(--nospam--at)engin.umich.edu]
> Sent: Wednesday, November 12, 2003 11:36 AM
> To: seaint(--nospam--at)seaint.org
> Subject: RE: SICK PROFESSION
>
> Bill:
>
> What I wonder is how does someone who is paid
> minimum wage (which is essentially below poverty, as I understand things)
> really have "life"...
>
>
>
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