Tuesday, December 05, 2006

Thomas Sowell on Some Basic Economic Points

As is often the case, Thomas Sowell makes some good points about economic matters that some people just don't seem to get:

Apparently Wal-Mart does not pay its employees as much as third-party observers would like to see them paid. But obviously it is not paying them less than their work is worth to other employers or they probably would not be working at Wal-Mart. ...


Are the Ethiopian coffee growers worse off now that Starbucks is buying their beans? Supply and demand would suggest otherwise. But moral crusaders seldom have time for economics.

I second both points. If Wal-Mart's pay is so abominable, why do so many people want to work there? And how are people in poor countries better off without multinationals offering them jobs?

No comments: