The Federal Government Is Basically An Insurance

Tax Cuts Were Not Going To Be Effective At Creating Jobs, And The Job Creation Record Is Lousy.

When The Fed Decides That Inflation Is Too High, They Have The Tools, And They've Shown Historically That They Have The Will, To Bring It Down. And, It Might Be Painful.

Raising The Minimum Wage And Lowering The Barriers To Union Organization Would Carry A Trade-off - Higher Unemployment. A Better Idea Is To Have The Government Subsidize Low-wage Employment. The Earned-income Tax Credit For Low-income Workers - Which Has Been The Object Of Proposed Cuts By Both President Clinton And Congressional Republicans - Has Been A Positive Step In This Direction.

In Short, What The Living Wage Is Really About Is Not Living Standards, Or Even Economics, But Morality. Its Advocates Are Basically Opposed To The Idea That Wages Are A Market Price-determined By Supply And Demand, The Same As The Price Of Apples Or Coal. And It Is For That Reason, Rather Than The Practical Details, That The Broader Political Movement Of Which The Demand For A Living Wage Is The Leading Edge Is Ultimately Doomed To Failure: For The Amorality Of The Market Economy Is Part Of Its Essence, And Cannot Be Legislated Away.

The Important Thing To Understand Is That The Case For Pollution Control Isn't Based On Some Kind Of Aesthetic Distaste For Industrial Society. Pollution Does Real, Measurable Damage, Especially To Human Health.