Contrary to popular belief, the MINIMUM WAGE hurts -Joseph L. Patterson

So far, we have heard arguments in favour of the Minimum Wage that are all based on our care for our fellow humans. No one had a rational reason or moral justification for why and how government should dictate the price of a person's time. However, we are all concerned about the obvious low wages, relative to the cost of living, that most Jamaicans are paid. 

It is also clear that while some big banks and companies are doing very well, most of us are doing poorly financially. Something must be done, but what? Should we "hire" the government to force all businesses to pay higher wages? Should we increase taxes on the rich and give this money to the poor? Or should we set price controls on the goods and services to lower them for all consumers? These are all nice sounding politically correct statements, but they are suicidal economically. All tried and failed and tried again under various governments in and outside Jamaica. And these actions are all immoral and mentally degenerative. 

This kind of thinking and these kinds of policies have made many nations poor and are pulling down rich nation's today (over time of course). The UIC has a new, moral and economically logical way; a system that will transform Jamaica into a nation of wealthy ordinary citizens within 5 years. And it's based on two phrases - individual liberty and personal responsibility. It is so simple and yet so complex. Unlike many developed nations that are sinking, we are well suited to chart this new course because we are close to rock bottom and ready for a fresh start. More on Sunday.