Anthony Fisher Debates Walmart and DC Minimum Wage Controversy on RT

I appeared on RT yesterday, debating host Sam Sacks and Rev. Graylan Hagler, a Washington, DC based activist who supports the living wage bill recently vetoed by DC Mayor Vincent Gray, which would have raised the minimum wage for employees of big box stores like Walmart, but left other businesses exempt from the increase. 

Watch below: 

Comments

[DesigNate]

You couldn't pay me to watch the derp those two idiots probably slung at you.

[The Late P Brooks]

They owe me!

Profitz!

Social Justice!

How did I do?

[Swiss Servator, Spare a Franc?]

I give it a 9 out of 10 - and you can dance to it.

[Alice Bowie]

I know libertarians hate minimum wage. I can only imagine how you feel about Living Wages.

Four of the 10 richest people (Billionaires) live rather high off the hog will we the tax payer hold up their works via foodstamps, ER, etc.

In addition, Walmart wipes out lots of small businesses.

A Sincere question for you libertarians, in CATO Capitalism, would it be OK if walmart wiped out all supermarkets/hardware stores/etc? I know you like no regulations. Would this be OK?

[Protagoronus]

1) Why is acquiring stuff sacrosanct? Why not farming - if we make the tractor illegal we could have more good jobs in the fields!!11!!one!

You see, as the economy grows and our society becomes more wealthy, acquiring stuff will matter less (same as what happened with food). You already see this in stores where every little cheap item has the stamp of some artist or designer on it. The economy also moves on Maslow's Hierarchy of Needs (See also Schumpeter's creative destruction).

No, there is no problem with old retail models being wiped out as people decide to do more important things with their time and money.

2) If people are willing to do work that has low economic value, it is probably because that is better than their other options. If some society decides that is a bad thing, why foist it on the businesses providing the work? Why not agree as a group of people (local gov't in DC) that a taxpayer funded minimum income is appropriate. Probably because that will be less popular than some hidden tax in the form of a job-killing minimum wage.

[Protagoronus]

disclaimer - I am not in favor of the solution in (2), I just believe it is a better solution than min wage because it puts the costs of the city/country government deciding that "society" should support a favored class of individuals on "society" instead of the disfavored class.

[Alice Bowie]

Tx

[tarran]

A Sincere question for you libertarians, in CATO Capitalism, would it be OK if walmart wiped out all supermarkets/hardware stores/etc? I know you like no regulations. Would this be OK?

It depends on what you mean by wiping out.

Do you mean going in with machine guns and wrecking the place?

Or do you mean attracting people to buy stuff from them rather than other people by offering a better combination of prices and goods than any other store on any conceivable product - so thoroughly that nobody feels any desire to go shop anywhere but at a Wallmart?

[ChrisO]

The only way that Wal-Mart would "wipe out" all supermarkets, hardware stores etc. would be if they offered better selection at lower prices. I'm not sure what the problem with that is.

And even if they did manage such a wipe out, there's nothing to prevent a new competitor from arising to provide better service or prices etc. The only way such a competitor would be shut out is through government regulation--which wouldn't happen in "CATO Capitalism."

Doesn't seem that complicated.

[ChrisO]

I should add that smaller retailers have certain advantages, especially when it comes to offering niche products. There will never be a day when a single retailer can offer everything with no competitors--unless through government fiat.

[The Last American Hero]

#2 can't happen without coercive behavior (taxes, zoning, regulations, mandates only very large companies can meet, etc) by your beloved government, Alice. If there is that much money to be made, other competitors will enter the marketplace and compete with your dreaded Walmart - just as Walmart has come out after KMart, Kresge, Sears ant others. They may compete directly, or they may nibble around the edges - offering better service/selection/deals on specialty items. However, they will compete and only the threat of government violence will stop the competition.

[hotsy totsy]

Anthony Fisher got to speak about 40 seconds out of 11:37 minute video.