Thursday, 18 February 2010

Minimum Wage

"Ministers have been stung by a series of reports in recent weeks showing that, while Labour has reduced poverty since taking power in 1997, the gap between rich and poor has widened because the incomes of the top 10 per cent of earners have soared."

What does it matter? Ok, I will admit that I find it very amusing that under Labour, the gini coefficient has increased, but surely all that tells us is that what they're doing right now isn't working. The point is: they're looking at the wrong thing.

The poor are now more poor than before, when compared to the rich. Well, why are we comparing them to the rich? Are they better off than they were? If so, where's the problem? Like all Labour policies, it seems to stem from a combination of deep seated jealousy and a wish that we could all be good communists. Who cares what the "top 10 per cent of earners" are earning - the only question that matters is whether or not the poor are better off...

No comments: