To sum up, the biggest problem with the minimum wage is that it is never enough in terms of livability.
Capitalism is better than the alternative
This is a comment in response to the letter “Capitalistic greed must be reined in” of March 7.
Shortly after the breakup of the U.S.S.R. in 1989, my wife, Barbara, and I were on a Baltic cruise, and we took a side excursion into Moscow to see the Kremlin and the city. When we got there, our Russian guide was a young lady who gave us a great tour. Along the way we asked her how Russians were getting along in the new capitalistic regime. She replied the stores under big-government socialism never had anything to sell, and if you really wanted something you would have to bribe someone to get it. Under the new capitalistic system, the stores had everything you could want but nobody had the money to purchase it.
Then with a wry grin she told this story: She said that when Russians had difficult questions to answer, they consulted their great philosophers. In this case about which system was better. After many months the philosophers finally presented their analysis. They said under one system, man exploits man, and then after a slight pause they said, under the other system, vice versa. In my view the capitalistic system does pretty good compared to whatever comes in second place.
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