First, is wrong to assume to that our choices are just "regulation by a
select few" or tolerance of all private sector outcomes. For example,
we could significantly expand the Earned Income Tax Credit rather than
raise the minimum wage.
Second, in a democracy, government intervention is not the product of a
select few, but rather the decision of hundreds of millions
decision-makers casting ballots.
Indeed, in our society, the "select few" who make decisions affecting
us all are found in large private institutions, including, but
certainly not limited to, major business corporations.
--
Norman Hawker, Associate Professor
Western Michigan University
http://www.wmumea.org/
On Mar 1, 2005, at 10:36 AM, Zupanc, Thomas wrote:
> I understand that markets containing hundreds of millions of
> decision-makers are not perfect. But is regulation by a select few
> better?
>
>
>
> TZ
>
>
>
> -----Original Message-----
> From: Academy of Legal Studies in Business (ALSB) Talk
> [mailto:[log in to unmask]] On Behalf Of Norman Hawker
> Sent: Tuesday, March 01, 2005 9:17 AM
> To: [log in to unmask]
> Subject: Re: Robert Reich article in NY Times
>
>
>
> Sarcasm aside, the basic point of the article is correct. In actual
> practice, markets are not perfect.
>
>
>
> Norm Hawker
>
>
>
> --
>
> Norman Hawker, Associate Professor
>
> Western Michigan University
>
> http://www.wmumea.org/
>
>
>
> On Mar 1, 2005, at 9:56 AM, Zupanc, Thomas wrote:
>
>
>
> ALSBers
>
>
>
> I am no economist, but why stop there? Shouldn’t we force health care
> providers, pharmaceutical companies, medical device manufacturers, and
> all those in that industry to lower their prices? Shouldn’t we force
> insurance companies to lower their premiums? Shouldn’t we limit
> punitives, contingent fees, malpractice awards? Couldn’t we go on and
> on?
>
>
>
> Increased demand (for “affordable health insurance”) will most
> certainly increase premiums, and on and on. In the end, the only
> “affordable” health insurance will be available to employees of large
> employers. What happens to the start-ups and small firms? They
> disappear.
>
>
>
> The history of regulation (good like health and safety, and bad, like
> this proposal) really has been a boon to large business at the expense
> of small business.
>
>
>
> It seems to me that if you don’t like the way Wal-Mart treats its
> employees, don’t let them profit from your dollars as a consumer,
> investor, supplier or otherwise. Period.
>
>
>
>
>
>
>
> TZ
>
>
>
>
>
>
>
> -----Original Message-----
>
> From: Academy of Legal Studies in Business (ALSB) Talk
> [mailto:[log in to unmask]] On Behalf Of Dan Levin
>
> Sent: Monday, February 28, 2005 10:00 PM
>
> To: [log in to unmask]
>
> Subject: Robert Reich article in NY Times
>
>
>
>
>
>
>
> ALSBers,
>
>
>
>
>
>
>
> Robert Reich has a good op-ed piece in today's NY Times (Feb 28)
> called "Don't Blame Wal-Mart."
>
>
>
>
>
>
>
> He argues that legal regulation can help mediate the conflict between
> two sides of ourselves -- the consumer's desire for low prices and the
> worker's/citizen's desire for good wages, fair treatment of workers in
> third world countries, etc.
>
>
>
>
>
>
>
> Here's part of his argument:
>
>
>
>
>
>
>
> "The only way for the workers or citizens in us to trump the consumers
> in us is through laws and regulations that make our purchases a social
> choice as well as a personal one. A requirement that companies with
> more than 50 employees offer their workers affordable health
> insurance, for example, might increase slightly the price of their
> goods and services. My inner consumer won't like that very much, but
> the worker in me thinks it a fair price to pay. Same with an increase
> in the minimum wage or a change in labor laws making it easier for
> employees to organize and negotiate better terms."
>
>
>
>
>
>
>
> Dan Levin
>
> --
>
>
>
> Daniel A. Levin, JD, MBA
>
> Associate Professor of Business Law
>
> Minnesota State University, Mankato
>
> Dept. of Accounting and Business Law
>
> Morris Hall 150
>
> Mankato, MN 56001
>
> 507.389.1827
>
> [log in to unmask]
>
> [log in to unmask]
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