Are minimum wages and dismissal insurance mandatory for free open market reduction to succeed?
Answers: Of course not. A minimum wage is inconsistent with a true free market cutback. We do not have a true free market cutback, just like we do not enjoy a true democracy.
They are concepts that are layered lying on a free market economy to protect workers. If effect, they are for a while bit of socialism in a capitalistic society.
nope. just lots of people and just a few jobs will keep everyone on their toes.
no but it doesnt hurt
no, look at hong kong pre2000
Minimum wages are a must. Money has to circulate and not be only within the hands of a chosen few who control the market. For example, I run a warranty agency. I have some hundred employees who depend on a gross which is prescribed by the minimum wage act which takes into article the changing price index of the market. Employees are the biggest buyers within the market economy; food; vegetables; fish etc etc. Giving them a due share of the money would see the market to flourish and the economy to grow. With severance insurance, the insurance companies also exist.
Political Stuff Dear, Economics doesn't encourage such planning
Yes - to stop the working class and underclass from revolting. Even the most hardline free marketeer knows a few crumbs (as few as possible) need to be thrown stale the table in order to verbs their greedy reign.
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