Sunday, February 27, 2011
Paul Jacob has at times been a reader of this blog, and seems to have an uncanny ability to read my mind.
He has a new piece up today that is an absolute must-read.
When people have been paid above fair market value for the work they do, eventually they are going to be brought to task and have to pay the piper. This is what I've been saying.
Paul Jacob says this today:
When politicians and unions negotiate wages, both sides are monopolies of sorts. And the problem with this situation, called ‘bilateral monopoly’ by economists, is that there is no obvious natural or equilibrium price for the services.Two things:
1. Go read the whole thing; then show it to any idiots you come across who side with these union thugs.
2. I wonder what the chances are we could get Paul Jacob to run for POTUS ... probably slim to none, but we have to start somewhere ...