EDITORIAL INVESTOR'S BUSINESS DAILY 1/4/07: Democrats want to "do something" about outrageous CEO pay. They also want to force small businesses to pay low-skilled workers more. Say, isn't pay supposed to be set by markets, not by government? .... CEO pay controls, a minimum wage hike — we're going down a slippery slope. If we're not careful, someday we'll end up with an official incomes policy. Just like the old Soviet Union. As economists will tell you, pay in a market economy should follow productivity — not the dictates of politicians. The most productive among us will earn the most. Step in the way of that, and you strangle the very engine of our prosperity. Read More ...
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Cheap Populism
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