tag:blogger.com,1999:blog-5649887104105216342.post3850323534934642705..comments2024-02-12T00:37:40.170-08:00Comments on Patrick Barron, an Austrian Economist: Free market approach to Pope Francis' call to end unemploymentPatrickBarron@msn.comhttp://www.blogger.com/profile/15099283038936284127noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5649887104105216342.post-68229835828274002932014-02-07T04:13:40.134-08:002014-02-07T04:13:40.134-08:00The posting is quite good except it needs emphasis...The posting is quite good except it needs emphasis on how wages are determined. While wages should be fair, the minimum wage should be related to skills needed for job and the skills offered in a free market for those skills.<br /><br />Wages must allow for training time to become productive.<br /><br />At the point that the workers skills add to productivity the employer will have to decide if he wants to keep the productive employee thru higher wages. The alternative is for the employee to seek higher wages because he has skills that add productivity. <br /><br />Government does not have ability nor right to make fair appraisal of wages for productively. Interference by government only adds costs and reduces productivity.<br />Anonymousnoreply@blogger.com