Episode 104 of the Consider This Podcast has been released; conservative commentary in 10 minutes or less.
CEO Dan Price of Gravity Payments decided to raise the wages of all his employees to a minimum of $70,000, while reducing his almost-$1 million salary down to that same $70,000. The Left love it, the Right hated it. But we don’t know how it will turn out, so it’s too early to celebrate. And if this little microcosm of what some have called “socialism” fails, will we even know? It’s being done in an economy of capitalism all around it, which could mask any problems.
Mr. Price said, “As much as I’m a capitalist, there is nothing in the market that is making me do it.” But let’s take a look at his motivations and his actions, and it doesn’t sound like he understands the meaning of the terms “capitalism” or “market”. Which is not good news for people, like his employees, who are depending on his economic decisions.
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