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Poor and Stupid

How big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good.

The Not So Mysterious East

Posted on 06/09/2007 22:31:09 | Link | Post Comment
The New York Times reports that "wages [are] rising 10 percent or more a year in many Chinese cities." Cafe Hayek has some great comments:
...this stat is difficult to reconcile with those pundits and politicians who argue that strong, independent labor unions are necessary to ensure that workers enjoy the benefits of economic growth. In China, independent labor unions are illegal. I confess to being no expert on the realities of the operations of labor unions in China, but I suspect that this reality is not remotely close to the model that the Robert Kuttners, Harold Meyersons, Paul Krugmans, John Edwardses -- and John Sweeneys -- among us believe should be adopted in the U.S. so that American workers can prosper.

Wages generally rise -- and wages rise generally -- because of market forces that improve worker productivity and encourage economic change and growth.

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