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Posts Tagged ‘Walter Williams’

Sunday Morning Weekly Recap Manufactured Housing Industry News July 2 to July 9, 2017

July 9th, 2017 Comments off

MHProNewsHomePage610.2017IpadManufacturedHousingIndustryReportsRecapResearchDataAs vacation season rolls on, we’ll try something just a little bit different again today for our weekly recap of .  Reader feedback, always encouraged and appreciated.  Matthew and his work are missed, but we hope his trip to the mountains will be a good one!

What’s New on MHLivingNews.com

We’re testing out some new things on the Daily Business News this week too, and have had some guest writers doing reports for us.  Traffic on these reports have been good  – that’s always a positive sign – but your written feedback is appreciated.

July 8th, 2017 

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To see this report, click here or the image above.

July 7th, 2017

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July 6th, 2017

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See the report by clicking the image above.

July 5th, 2017

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Smiling faces at the Lakeside closing, the names for those shown were not immediately available.

July 4th, 2017

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July 3rd, 2017

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July 2nd, 2017

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America, Manufactured Housing & Debate Over Minimum Wage$

July 7th, 2017 Comments off

 AmericaManufacturedHousingDebateMinimumWageFightFor$15DailyBusinessNewsMHProNewsThe truth is, low-wage workers are making real gains in Seattle’s labor market. In almost all categories of traditionally low-wage work, there are more employers in the market than at any time in the city’s history.”

Quoted from UW minimum-wage study doesn’t reflect reality of work in Seattle, posted in the Seattle Times  (1)

It is a fact, an economic fact, that when you raise the minimum wage, the people that are hurt the worst are minorities and kids.

U.S. Senator Rand Paul (2)

The minimum wage argument has been in full force on both sides of the coin for years now.  The issue of the minimum wage is tightly connected to affordable housing, and thus to manufactured housing professionals.  There are industry professionals who would run the spectrum on this topic.

The so-called “Fight for $15” movement has made this a hot-button issue.  Manufacturers and others have told MHProNews that getting cost-effective wages to do the work needed by the industry is an issue.

One factory builder for some time has had homes produced in Mexico, to the HUD Code Manufactured Housing standards.  They do so in part to get the labor cost for good labor down.

Another HUD Code home producer has told MHProNews that they import some of their components from China, which has nominally lower wages.  Again, they do so to give them a competitive advantage in the U.S. marketplace.  Note how that fact relates to the Daily Business News report, linked here.

Retailers and communities are no stranger to the issue of minimum wages either.

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A resident in front of her home at Corona La Linda Mobile Home Park. Credit: Press Enterprise.

Time has passed since some cities and states implemented their own version of higher minimum wages, ones that differ and are ‘more generous’ from the federal wage laws.  Those experiences of the realities vs. the theories of minimum wage hikes is the hinge that this debate should turn on.

Because it is now possible to begin assessing the realities of wage laws, and how they impact businesses, jobs and workers.

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Fight for $15  protest- Credit, CommonDreams. 

Two Sides of the “Fight for $15” Coin

Seattle, WA was the first city to enforce a $15 minimum wage, which is being phased in with gradual increases since the law was passed in 2014.

Depending on which reports and news outlets one reads, there are broadly two:

  1. Seattle’s Minimum Wage Experiment is a Complete Success
  2. Seattle’s Minimum Wage Experiment is a Total Failure

Without doing a formal study, using Google as a reference tool, there is not much obvious reporting on a middle ground between these two poles.

The above quote (1) from the Seattle Times (ST) is followed by the author talking about how there are more coffee shops, restaurants, and hotels than ever before in Seattle.

The Economist begins their review of the minimum wage discussion with the chart and the words below.

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Chart credit, The Economist, and is shown under fair use guidelines.

JUST what is the point of a minimum wage? It seems a straightforward enough question to answer. Minimum wages are designed to protect vulnerable workers who might otherwise lack the bargaining power to command a decent pay package. They are a means to limit severe poverty among those in work.” (3)

But is that claim spin? 

Rand Paul and those like him might answer that question, “yes.”  Because the minimum wage is the start of the ladder, not a negotiating position for someone years into their career.  The video discussion below sheds light on the issue.

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There are people on both sides of the minimum wage debate that believe that the goal of wage growth is one that should be favored. The question is method, how does one get to wage growth without harming business, workers or others? President Trump has promoted policies that his supporters say will cause wages to rise, without negative economic impact.

What the chart the Economist published (shown above) clearly reflects is what the University of Washington and other studies have shown.

Namely, that minimum wage is harmful to the very working class pool it claims to help. It may benefit some, but it does so at a cost to others in the labor force.

Further, it drives some marginal businesses, out of business, as the video discussion above suggests.  Note that even the progressive in this video admits they have to ‘tinker with this’ minimum wage law, and then he blows past his own admission to make a point that is not related to these actual case studies.

You are entitled to your opinion. But you are not entitled to your own facts.” – Daniel Patrick Monaghan (4).

The Trumponomics Approach to Raising Wages Without Harming Businesses

It is still just 6 months and a few days into the new administration. Consider President Trump’s policy plans, and those who view the world in similar ways. They can be summarized like this:

1)    Cut off illegal immigration into the U.S. – effect, that will cut off a supply of even less than minimum wage workers.  The result?  Wage growth for others here legally.

2)    Slow/stop the H1B program, as much as possible – same as #1 the above.

3)    Get better trade deals (Bernie Sanders favored something similar) – cheap goods from overseas only hurts U.S. workers and businesses in that same field.

Those steps, says the president’s backers, will allow the free market to work in the U.S. to the benefit of American businesses and workers alike. 

Two noted economists, not necessarily fans of the president, say this on the subject of the minimum wage.

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Walter E Williams, Economist, George Mason University.

Reduced employment opportunities is one effect of minimum wage legislation. The minimum wage law has imposed incalculable harm on the disadvantaged members of our society. The only moral thing to do is to repeal it.” – Walter Williams, Ph.D. and economist from George Mason University. (5)

The real minimum wage is zero: unemployment.” Thomas Sowell, an economist from Stanford University, has said.

Sowell has an interesting way of phrasing a supposedly complex issue, and making it seem simple.  An example of that is the graphic of Sowell below, featuring a quote from him on another hot button topic.

Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good.” Dr. Sowell has said.

Unfortunately, the real minimum wage is always zero, regardless of the laws,” Sowell said.

“…and that is the wage [zero] that many workers receive in the wake of the creation or escalation of a government-mandated minimum wage, because they lose their jobs or fail to find jobs when they enter the labor force. Making it illegal to pay less than a given amount does not make a worker’s productivity worth that amount—and, if it is not, that worker is unlikely to be employed.”

Thomas Sowell, Ph.D. Economist, Thinker,

Collage credit, Wikipedia and MHProNews.com.

Back to the Factory Built Housing Industry…

One manufactured home producer is in an area where there is considerable demand for qualified labor.  The result?  They are paying more for good labor, and those better paid workers have created a more stable workforce.  That company in turn reportedly has lower service costs on their homes than competitors in that same market, and also reports higher customer satisfaction.

To summarize that differently, “The Law of Supply and Demand” works in labor, as in any other aspect of economic life.

Furthermore, when wages go up naturally – as opposed to artificially – that’s also a signal that businesses are making enough to pay more.

Higher wages means more people can afford homes, and those include manufactured homes too.

Sowell’s point – and the facts from the study above – explain why in New York City, they too have seen a similar problem from their minimum wage hike as Seattle has. (6)

In the state of Missouri, they are rolling back their minimum wage hike, because they have seen negative economic consequences from it. (7)

Dr. Sowell’s point about nice sounding, compassionate words, vs. the economic realities that they cause are important to consider in this debate.

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So too the unique – and supporters say, common sense – approach that President Trump is bringing to the worker issue debate.  The administration is trying to get to the root cause of the problems that cause lower employment and lower wages.  The facts – not feelings – ought to dictate the direction of the nation. ## (News, Analysis)

Footnotes & Sources:

(1)  http://www.seattletimes.com/opinion/uw-minimum-wage-study-doesnt-reflect-reality-of-work-in-seattle/

(2)  https://americanbridgepac.org/splash/the-real-rand-paul/minimum-wage/ 

(3) https://www.economist.com/news/finance-and-economics/21724802-two-studies-their-impact-seattle-reach-opposite-conclusions-economists-argue

(4) GoodReads.

(5) http://harmful.cat-v.org/economics/minimum-wage/ 

(6) https://townhall.com/tipsheet/mattvespa/2017/06/28/minimum-wage-hike-fever-also-screwed-new-yorks-workers-n2347478 

(7) The Daily Caller story – http://dailycaller.com/2017/07/06/missouri-rolling-back-minimum-wage-from-10-to-7-70-video/ – also pointed to a CBS News video on the topic.

8) Thomas SowellBasic Economics: A Citizen’s Guide to the Economy

(Publisher’s notes: Julia Granowicz popular first guest column with MHProNews has drawn a wide range of responses, it is linked here.

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Analysis and other columns that reflect an opinion should be construed as that of the writer, and may or may not reflect the views of the publisher, or sponsors. Other well-reasoned perspectives are welcomed via iReportMHNewsTips@MHMSM.com.  Note, the author questioned her own headline and asked for help with it.  Editors historically pick the final headline. She submitted it as: “The Hope of Economic Freedom is Lost on Our Current Government.”)

 

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.com.

 

Economic Freedom, Millennial Considers Founders Through Lens of Ron Paul, Walter Williams, Milton Freidman

July 4th, 2017 5 comments
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Image collage credits, Pixabay, MHProNews,

A free people [claim] their rights as derived from the laws of nature, and not as the gift of their chief magistrate.” – Thomas Jefferson, Rights of British America, 1774 (1)

A people… who are possessed of the spirit of commerce, who see and who will pursue their advantages may achieve almost anything.” – George Washington, letter to Benjamin Harrison, October 10, 1784 (2)

While people travel, enjoy cook-outs and fireworks this 4th of July, don’t forget the reason we celebrate this holiday – American Independence, and freedom.

These two things mean different things to different people – to some freedom simply might mean to be able to go and do as they please while for others it means being able to speak their mind and stand up for what they believe in.

But what about the freedom to reach our full economic potential? With interference like the Internal Revenue Service taxing us more and more the higher we earn, it’s almost a punishment to succeed.

The Central Government should be limited to basic functions. Defending the nation against foreign enemies, preserving order at home, mediating our disputes.” – Milton Freidman (3)

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Former Congressman, Ron Paul.

One of the founding principals of our country, freedom, is surprisingly limited in government today, says thinkers like former Congressman Ron Paul, when compared to the government we started with over 250 years ago; and it’s probably not something our founding fathers would be pleased to see.

It’s grown significantly with the country, which was to be expected. Unfortunately with that growth we’ve also seen more government interference with things they shouldn’t and don’t need to be involved in.

Writing in a column published in Newsmax and elsewhere with 4th of July reflections, Paul notes our government is involved with everything from our schools and housing, to tracking our income and keeping records of all our electronic correspondence. (4) This did not used to be the case, nor should it continue to be.

Enormous taxes, burdensome taxes, oppressive, ruinous, intolerable taxes.” – John Adams (5)

Take the IRS for example. One of the things that finally caused the American colonists to say enough was enough was when Great Britain started to excessively tax everything from sugar to eventually tea. Yet today we are taxed not only a flat rate on specific purchases, but are also taxed a large sum each year based on how much we earn in a given year.

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Historic cry of the colonists who wanted to escape the burdens of British rule, “No Taxation Without Representation,” Credits Emaze YouTube.

The more you earn, the higher you are taxed. While this may seem fair to some, it can feel like a punishment for success.

Why are we not entitled to keep the money we earn in full? Why must we be forced to give away a significant portion of our hard earned income to a government which steps in and restricts our lives in so may different aspects?

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Walter E. Williams, Ph.D., Economist, George Mason University.

Income redistribution is simply a legal form of what a thief does. That is, when a thief robs you he redistributes income from you to him. Now the primary distinction between his behavior and that of congress is simply a matter of legality.” – Walter E. Williams, Ph.D., George Mason University. (6)

Yes, that income tax pays for many important things – like keeping our government services up and running, keeping programs to help low-income families get ahead, and much more. But rather than forcing everyone who succeeds to pay for it all, why not find a more fair way to collect this tax?

Perhaps that might convince more people to work harder and strive for success. No one really wants to live on a small government assistance check each month – but when they start earning just enough that they no longer qualify, then they are punished by being cut off of government help without the means to obtain affordable housing, or healthcare.

No one should be punished for success, and no one should be forced to live in poverty because they cannot afford to live through the transition from poverty to success. Lower tax rates, fairer tax principles, would be a step in the right direction for economic success for all Americans.

MiltonFriedmanAmericanEconomistNobelPrizeWinnerManufacturedHousingIndustryDailyBusinessNewsMHProNewsThere might not be a perfect method of taxation – but there is certainly a more fair method than exists today that could be put in place. A flat tax for instance, would be a potential solution and has been considered.

Right now, in the words of Walter Williams, we’re the victims, and Congress are the thieves. This is unacceptable – and yet we do nothing but comply, year after year.

Our founding fathers left their King and their country over a tax on tea; and yet we’ve allowed the government they stood up for and created to do the same thing to us, on a significantly larger scale.

Is this really freedom? ## (News, Flashback, Analysis.)

Footnotes & Sources:

(1) http://www.marksquotes.com/Founding-Fathers/Jefferson/

(2) http://www.marksquotes.com/Founding-Fathers/Washington/index2.htm

(3) http://www.newsmax.com/RonPaul/tyranny-government-independence-british/2017/07/03/id/799606/

(2) https://www.youtube.com/watch?v=OUL152yGVGI

(5) http://foreignpolicy.com/2012/07/03/tea-taxes-and-the-revolution/

(6) https://www.youtube.com/watch?v=yXy-OJi8JTQ

(Publisher’s note Analysis and other columns that reflect an opinion should be construed as that of the writer, and may or may not reflect the views of the publisher, or sponsors. Other well-reasoned perspectives are welcomed via iReportMHNewsTips@MHMSM.com.  Note, the author questioned her own headline and asked for help with it.  Editors historically pick the final headline. She submitted it as: “The Hope of Economic Freedom is Lost on Our Current Government.”)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.com.

 

 

 

 

 

Hayek and The Fatal Conceit Revisited by Wall Street Journal

October 14th, 2014 Comments off

friedrich_hayek_wikipedia-posted-MHProNews-com-The Wall Street Journal (WSJ) suggests that recent government policies are harming American citizens, and point to the words of 1974 Economic Nobel Prize winner, Friedrich A. Hayek. Hayek accepted the honor while warning the world that policy-making should be reserved for topic experts.

The curious task of economics,” Hayek famously wrote in “The Fatal Conceit,” which he published in 1988, “is to demonstrate to men how little they really know about what they imagine they can design,” WSJ tells MHProNews.

Decades ago the economist was expressing thoughts on humility and recognizing general lack of knowledge on certain subjects, like economics. 

There is no doubts that government policies are intend to benefit the people. The Wall Street Journal cites Dod-Frank and the Affordable Care Act (ACA, also known as ObamaCare), explaining in the latter case that thmandates, restrictions, prohibitions, taxes and subsidies[of the legislation] are meant to make health insurance universally available.Only three percent of the 16% of Americans without health insurance have received coverage, instead of benefiting millions as it was planned by the government passing the law. 

Not only did very few people access insurance, but those who did also saw their list of available care providers diminished and are complied to paying high premiums. In addition to people, the law hurt businesses themselves. With the help of ObamaCare, only three percent of employers were able to hire more workers, per the WSJ. Where few hires occur, they are often “capped at 29 hours, not coincidentally just one hour less than the definition of “full time” under the ACA.

Obamacare is not to be singled out. The same kind of consequences can be observed on the Dodd-Frank law regulating American banks. When new rules were to protect banks, the nearly 400 new regulations, [slap] the industry with more than $20 billion in new compliance costs.Manufactured housing professionals are keenly aware of these regulations and their impact, which some whisper will cause a lender to exit the MH space. 

In short, the lack of knowledge showed by policy makers shows through what economists call unintended consequences.” 

Hayek’s work certainly influenced other economic thinkers today, consider this quote from Walter Williams:

A right, such as a right to free speech, imposes no obligation on another, except that of non-interference. The so-called right to health care, food or housing, whether a person can afford it or not, is something entirely different; it does impose an obligation on another.

If one person has a right to something he didn’t produce, simultaneously and of necessity it means that some other person does not have right to something he did produce. That’s because, since there’s no Santa Claus or Tooth Fairy, in order for government to give one American a dollar, It must, through intimidation, threats and coercion, confiscate that dollar from some other American.##

(Hayek photo credit, Wikipedia)

(Article submitted by Lucine Colignon to Daily Business News – MHProNews)