The way stupid people think about economics

Today's idiot?  Union tool Jane Hamsher of Firedoglake...

...increased wages for working people would mean "increased spending power of lower income consumers," which would mean that even if Wal-Mart was successfully unionized -- a big if -- they could make up the cost of higher wages with an increase in sales.

So, Wal-Mart could maintain their bottom line in an environment of (artifically) inflated labor costs by... raising their prices.  Brilliant.

Yes, there are actually people walking around, evidently completely free of the supervision of others, who believe this stuff.

Posted by: DocJ at 11:48 AM | No Comments | Add Comment
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