Economics
Philip Symmons
11

I’m an economist! And I have plenty of clues! Watch…

Let’s say that we sent 90% of the women to live on Venus. Would this be good or bad for men here on Earth? As an economist… my prediction is that this would be bad for men… but really good for the remaining women here on Earth. Ladies like a sausage fest… straight guys… not so much.

Imagine somebody said, “hey! guys have it rough! let’s improve their conditions by sending more women to venus!” This person would be lacking quite a few clues… right?

Right now there’s a surplus of clueless economists. They think they can fundamentally improve conditions for workers by making it harder for people to start a business.

Anybody who supports minimum wages is clueless. Anybody who supports the gazillion regulations and gazillion miles of red tape is clueless. Making it harder and more costly and less profitable to start a business results in more workers and fewer business owners. Creating ridiculously high barriers to entry gives business owners the upper hand. When there’s a scarcity of employers… workers are beggars that can’t be choosers.

If you want wages to go up… then you have to increase the competition for workers by increasing the supply of employers by eliminating the barriers to entry.

If you post this story of yours on the forum that I just launched… RudeBagel (the first micropayments forum)… I’ll allocate $0.10 cents to! Heh. That’s $0.10 more cents than you’d get for your story here! If that’s not enough money then you must agree that incentives matter. Agreeing that incentives matter is a really important clue.

You’re a good writer and that’s half the battle. The other half involves collecting more good and useful economic clues. Participating in the world’s first micropayments forum might help with that.

I wrote a lengthy story on Medium about the benefits of micropayments and Medium totally ignored it. So I figure that poaching writers might eventually get their attention… or result in my banishment!