Comments on: Mirable Dictu: Businesses Want More Regulations (If They Write Them) http://www.nakedcapitalism.com/2007/09/mirable-dictu-businesses-want-more.html Sun, 22 Nov 2009 06:06:33 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: James http://www.nakedcapitalism.com/2007/09/mirable-dictu-businesses-want-more.html#comment-858 James Sun, 16 Sep 2007 16:54:00 +0000 http://www.nakedcapitalism.com/2007/09/mirable-dictu-businesses-want-more-regulations-if-they-write-them/#comment-858 Dani Rodrik has made this argument numerous times over the last couple of years. There are free markets for capital, but because labor is constrained by borders workers are at a much greater disadvantage. Either everyone opens and lets labor compete globally or the system is doomed. Dani Rodrik has made this argument numerous times over the last couple of years. There are free markets for capital, but because labor is constrained by borders workers are at a much greater disadvantage. Either everyone opens and lets labor compete globally or the system is doomed.

]]> By: GeorgeNYC http://www.nakedcapitalism.com/2007/09/mirable-dictu-businesses-want-more.html#comment-857 GeorgeNYC Sun, 16 Sep 2007 15:12:00 +0000 http://www.nakedcapitalism.com/2007/09/mirable-dictu-businesses-want-more-regulations-if-they-write-them/#comment-857 The stock exchange example is always my favorite in any argument with "free market" proponents. It usually leaves them at least momentarily baffled. The simple fact is that the stock exchanges are probably some of the most heavily regulated markets in the country. We correctly rely upon those regulations to create the transparency necessary to trade stocks. <br/><br/>While capital gets the benefits of these transparent markets, labor is condemned when it tries to organize to get a modicum of market power. However, what if there were a true "open" market for labor where all jobs and their salaries were required to be posted and "trade" much like stocks. I wonder what that would do for compensation? The stock exchange example is always my favorite in any argument with “free market” proponents. It usually leaves them at least momentarily baffled. The simple fact is that the stock exchanges are probably some of the most heavily regulated markets in the country. We correctly rely upon those regulations to create the transparency necessary to trade stocks.

While capital gets the benefits of these transparent markets, labor is condemned when it tries to organize to get a modicum of market power. However, what if there were a true “open” market for labor where all jobs and their salaries were required to be posted and “trade” much like stocks. I wonder what that would do for compensation?

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