Want to Read a Troubling Editorial This Morning?

Go no farther than the Denver Post editorial by David Peterson.  It includes the following sentence:

To paraphrase the old quote about General Motors, "What's good for grocery workers is good for America."

One wonders where the economics student who wrote it has been over the past several months.

If any companies in any industry in America can afford to do the right thing and boost employee incomes and pensions, grocery chains are at the top of a short list. The wage boosts being sought are neither outrageous nor excessive — especially relative to the growth of their top executives' pay the past decade. The good news is that the companies and the union that represents their workers are back at the bargaining table to try to reach an agreement by June 15.

He is proposing that the Grocery companies follow the exact compliant to unions path that led to the GM bankruptcy.  I guess that he thinks that having the government bail out the grocery industry will be "good for America."  After all, it is another industry that can't be allowed to fail.

Save us from the ignorance of the ivory tower, and the ignorance of David Patterson.

Comments

[Ben]

It just goes to show discredited Keynesian ideas are still alive & kicking in our institutions of "higher learning".