Friday, March 26, 2004

Well, the FFFers never sleep:

Will Work for Less
by Scott McPherson
, November 2003 (Posted March 26, 2004)

"When people are left free to conduct their affairs without fear of violence, they quickly learn the value of engaging in trade, rather than plunder, to better their position in life. The material well-being of individual citizens is thereby best protected when they can seek terms of trade with whoever is offering the best deal, as no one would willingly enter into an agreement if he thought it would be injurious to his present standing.

"There is a corollary principle implied here: Free people must also be treated as capable of making their own economic decisions.
...

"Between 1840 and 1915, for example, with no wage laws in existence to protect workers from greedy businessmen and with millions of impoverished immigrants flooding into American cities and driving down the price of labor, the purchasing power of Americans’ wages actually tripled (even while working hours were declining), the largest increase in general prosperity ever seen in the history of the world."

Hopefully I'll hear something from Mr. McPherson, with regard to references.

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