On Minimum Wage: Edgar the Exploiter

[InvisibleJim]

No, because the economy is being treated as a closed system. Both in the video and in my example. The only way for Edgar to lose money is if he's inefficient or there is low demand for what he's selling.

I remember that time I sold imaginary sand to the theoretical arabs and this generated real value for both particpants and then I bought a yacht.

Maybe we just need to legislate so the real arabs behave like the theoretical ones.

[xerx]

I remember that time I sold imaginary sand to the theoretical arabs and this generated real value for both particpants and then I bought a yacht.

Maybe we just need to legislate so the real arabs behave like the theoretical ones.

Theoretical Arabs wouldn't want your sand either.