"Literally, if we took away the minimum wage--if conceivably it was gone--we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level." --Michele Bachmann, 1/26/05, testifying against a bill to raise the minimum wage and advocating the elimination of the minimum wage altogether..
"Dark economic clouds are dissipating into an emerging blue sky of opportunity. "
"Democracy functions best when we have an active citizenry."
Election of poorly equipped persons to highest office reveals a larger problem - a sizable portion of the electorate, possibly fifty percent, subscribe to the simplistic economic thinking that thwarts economic recovery - "It's the government's fault," "Only business can create jobs," "Get the government out of our lives," and the latest, "We only have to return to God."
And what thinketh the other fifty percent? Well, the Wall Street Journal has a huge and trusting readership who use its words to plan their economic futures. Combine Tea Party, Libertarian, and Wall Street Journal (WSJ) subscriptions, and we have, with some overlap, economic thought that defies analysis because there is no thought to analyze.
Tea Party proposals for economic growth are self-refuted due to their lack of depth, slogans and simplistic expressions.
Libertarian economics derives from libertarian philosophy, a single-minded approach to all issues. The economics have been challenged in a previous article by the writer:
How to Create an Economic Downfall, exactly what these miscreants are preparing for their nation.