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Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess
It is to their interest to employ people. Sure, it is also to their interest to speed up production, but if everyone followed lego and completely replaced everyone with machines there would be no such thing as industry. The only reason lego is able to survive is because there is industries out there that didn't follow them into the suicide chamber.
That seems logical enough, but businesses don't act on the best behalf of the economy, they act in their own best interest.
No one business is large enough to significantly effect our macro-economy. I'm all for libertarianism when and where it works, but in this case, it can't work. That's where government comes in as a legitimate factor, when individual business doesn't provide what we need, then government can create mandates or programs that will.
It is to their interest to employ people. Sure, it is also to their interest to speed up production, but if everyone followed lego and completely replaced everyone with machines there would be no such thing as industry. The only reason lego is able to survive is because there is industries out there that didn't follow them into the suicide chamber.