Re:What harm do minimum wages do?
by pydry on Wednesday August 19, 2020 @03:20PM
(#24214941)
>A free market means that the supply and demand of goods rely on price signals rather than a centralized planner.
That's one definition but it's not one of the more common ones.
It also begs the question what counts as a centralized planner. Does Boeing count if it sets the price of jet planes that only it and Airbus sell? What about when Singapore fixes the price of medical care even though anybody who wants can cross the border to have it done? Or Venezuela that fixes the price of its own money - at a rate literally nobody pays?
That's one definition but it's not one of the more common ones.
It also begs the question what counts as a centralized planner. Does Boeing count if it sets the price of jet planes that only it and Airbus sell? What about when Singapore fixes the price of medical care even though anybody who wants can cross the border to have it done? Or Venezuela that fixes the price of its own money - at a rate literally nobody pays?