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Posts Tagged ‘meddling’

Progressives Ruin America Samoa

Posted by Steve Markowitz on June 2, 2010

As this Blog’ travels have progressed, we are seeing increased input from readers, which adds substantial intellectual assets to important issues facing this country and the world.   We are pleased to today post a brief comment from Chris in response to May 22’s posting, “Free Trade and WTO Subsidies” submitted by another reader, Carl.

Chris also submitted the link below to an article relating to a tragedy caused by Left-wing do-gooders in America Samoa.  Here the Progressives forced the island to significantly increase its minimum wage rate for the purported purpose of increasing the plight of Island workers.  But once again their meddling in the markets backfired forcing employers to leave the Island thereby significantly increasing its unemployment rate.

Wall Street bankers are rightfully hauled in front of Congressional committees to explain actions that harm the common folks.  Why are Progressives in government given a pass when they create a mess like the one in Samoa that has caused tragedies for the locals?  The answer is simple.  Both the private and public sectors make errors that harm people.  However, when the errors come from the private sector people have remedies they can seek.  When the government causes the harm it is but an excuse to create more government.  How convenient!

Thanks Chris for sharing this great example of government meddling gone bad.

Chris says:

Steve, I thought you and some of your readers would be interested in this article from the WSJ regarding jobs in America Samoa. Yet another example of the negative consequences of government on the free market economy and people’s lives.

Instead of removing or fixing the law (removing minimum wage restrictions) that caused the problem in the first place, the government solution is to pass yet another law (while using our tax dollars/subsides!!!) to minimize the damage caused by the first law.

WSJ – America Samoa


Posted in Econ 101, economics, Government Ineptness, Progressives, Supply and Demand | Tagged: , , , , , , | Leave a Comment »