QuakerOats;669792 wrote:Didn't say it was, necessarily.... so long as the private enterprise makes the decision of its own accord. Free markets always allocate resources far better than any other mechanism (especially including government and socialists etc...). And in free markets, market based wages and benefits prevail. The point of the original post is, IT IS NONE OF OBAMA'S BUSINESS WHAT PRIVATE SECTOR ENTERPRISES DO WITH THEIR ASSETS, PROFITS, OR RETAINED EARNINGS. Got it, now?
See, I mean, you don't even believe in the concept of market failure. A basic example of market failure is inadequate consumer information. Most of us aren't doctors or pharmacists so we don't have adequate knowledge about medicine, etc. In order to have an efficient market we'd all have to bone up on this knowledge so people couldn't sell us Snake Oil and potions like not so long ago. Hence, we create a federal agency with people that do have this type of knowledge to do that kind of work for us.
And for heavens sake, regulatory agencies can certainly fail but it's like you don't even know what really makes up an efficient market wherein no players can artificially influence the market price. You will just drum beat the anti-obama drum on an on into perpetuity.
And as an aside, why wouldn't it be his business? Since the days of Aristotle the best way to avoid the poor from uprising against the rich and powerful is to have a strong and powerful middle class. People in our government, who have no power to forcibly control the private business actors in most instances at the very least might want to suggest that the rich and powerful raise their wages. Just like you or I or Thomas Sowell might have an opinion, he can at the very least have one too...even if he's just an uninformed incompetent glad-handing marxist.
