Pay threshold for managers to rise to 50K

Do you think people are treated more "fairly" in heavily regulated economies?

Why do you assume less developed = less regulated. I would argue the opposite is almost always true.

 

Maybe they have draconian minimum wage and OT laws in Somolia that I'm unaware of.

 

Are those the only examples of "regulations"?

If the government controls the vast majority of the economy, I would say it's a very regulated economy.

 

OK. Can you or Rags give me an example of a thriving economy where there is little or no government interference and capitalism is allowed to flourish?

 

The global economic crisis that hit starting in 2008 makes it hard to point to a lot of booming economies anywhere, but some of the things that places like the Baltic States and Slovakia have done have allowed for more prosperity and a better recovery than we've seen in more socialist economies.

Domestically, I'd look at Texas vs. the growth in the Rust Belt.

 

Yes, every state should follow Texas' model and have an oil boom.

Sadly, however, per capita income there remains lower than in Vermont, so it's not like ordinary people are seeing that much benefit.

 

I don't know about the last two or three years, but for the 10 years preceding it, Texas' job growth was almost entirely in the government sector. That doesn't sound very non-regulate-y to me.

You should look at Minnesota (boost taxes, worker protections) vs. Wisconsin (reduce taxes, strip worker protections). They're right next to each other and did everything in the same timeframe.

 

Yeah. Texas and Vermont are similar in so many other ways. LOL.

How many companies have relocated to Vermont, Or Minnesota in the last 10 years?

I'll grant you Wisconsin. they're stealing people and businesses from Illinois.

 

Maybe in the coffee industry.

Overall, Wisconsin's job growth has been for shit.

Wisconsin lags Midwest: Job growth state rankings : Wsj

Wisconsin 'dead last' in the Midwest in creating jobs? | PolitiFact Wisconsin

 

Texas and a number of the right-to-work states have attracted many business by offering cheaper labor. Why is a growing economy good if people in that economy aren't benefiting from it?

 

So you'd rather be jobless in a high-wage, high cost-of-living state than employed in a low-wage, low cost-of-living state. Got it.