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Yes there is. What is the PRODUCT that mentally disabled people bring worth per hour in terms of salary? Saying he's an ass for being accurate is simply illogical and based on nothing other than feelings.
Peter Schiff: "Mental retards are maybe worth 2$ an hour"
- Thread starter Julius Skrrvin
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Yes there is. What is the PRODUCT that mentally disabled people bring worth per hour in terms of salary? Saying he's an ass for being accurate is simply illogical and based on nothing other than feelings.
Your position is equally based on feelings, though. That's the point I'm trying to make. Values are nothing but feelings.
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When it comes to supply and demand, values can easily be quantified. "But... but.... what he said sounds mean and therefore I don't like it!" can never remotely be objective.
Yes, but Schiff wasn't talking merely in the context of what the theory of supply and demand says, but in the context of his normative beliefs about how the economy should be structured by that theory and the subsequent effect on people like the mentally disabled. You're sanitizing him by decontextualizing his statement.
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Or, I'm placing his statement in context. The interview was highly edited but is clearly about minimum wage, which Schiff believes should be based on how much someone's work is worth to the employer. And in terms of production, that's what mentally handicapped people are worth.
Black smoke and cac jokes
All Black Everything
What timing mistakes? A prediction rests on a given thing happening at a given time. Watch this: I predict that Denver will win on Sunday, I'll check back with you Monday morning to see if I meant THIS Sunday or one in the future.
Calling the housing bubble was impressive, but where's the rest of it at? Where's the hyperinflation even 5 years after he predicted it? Where's the dollar being worthless or the US economy completely crumbling? The man is the economic equivalent to the guy who kept predicting the Rapture. "Oh it didn't happen this year, well then it DEFINITELY is gonna happen next year."
I'm acknowledging that he was off by time but he recognizes the symptoms of a bubble. You are interpreting it as a bubble is inevitable and all economies get it, which is not true. The timing of the prediction hold little value because there is no way you can stop it since there is implementation lag in whatever fiscal policy the government wants to use. An economic prediction is not similar to predicting a super bowl win because winning the super bowl is a tangible measurement while an economic catastrophe is not. You can explain the symptoms and possible outcomes, but you never know 100% what will happen.
Brehbreh, he explains it in his videos, the artificial lowering of interest rates is hindering hyperinflation but since we're close to 0, hyperinflation will eventually happen. Again, he is wrong time-wise but watch the economy in the coming decades and you'll see that his predictions are correct, just again, wrong timing.
You can't compare this to any other predictions because the economy doesn't rely on an "if....then" statement, too many factors that could change it either way.
Majestic Pape
The-Coli = W SOHH = L
Attaching WORTH to production/merit is though.Attaching pay to production/merit and competition isnt satanicLets not let our emotions get the best of us here.
Everyone is paid what they are worth to the person(s) that are paying... and his/her opinion is the only one that matters.
Majestic Pape
The-Coli = W SOHH = L
Everybody is paid what they receive, not necessarily what they are worth.
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If they threatened to leave, then the employer would pay them what they are worth.
If they are easily replaceable for that same salary then that it exactly what they are worth.
Mr. Somebody
Friend Of A Friend
Provide help for those that need it the most. There is always a way, if you believe in the teachings of Christ,
Disgustingly offensive