Minimum Wage and Its Effect On Poker

A general response to this thread and a few quotes from it:

Players want to know what the direct or indirect side effects of a government imposed raise in minimum wage might be.  I can clarify this argument, and but unfortunately it is going to entail a little focus on BJ. For BJ it may likely be impossible to understand because his logic is always going to show that he is correct, yet many others will understand exactly why this (“bj”) phenomenon exists. Many peoples fairly decent at logic often come to BJ’s conclusion and fewer learn to grow beyond the mistaken conclusion.

Here is the key:

Socialism as an ideal is great.  But socialism as an imposed solution leads to tyranny.
Capitalism as an ideal seems terrible, but capitalism as a system leads to the socialistic ideal BJ wants.

We learn this from the likes of FA Hayek, A road to serfdom, which I suggest BJ should read because it might snap his mind into reality rather than simply trying to support his own logic and conclusions all of the time.  But this all gets more interesting.

First I suggest we watch this Milton Friedman clip on minimum wage:

Someone mentioned that money tied to gold is strong and worthy, and bj mentioned money is related to the underlying production of the economy.  The former is usually well known and agreeable. With the latter I can agree with but its more complex than BJ thinks or puts it. Yet there is something crucial here for all of us to understand.

Keynesian central banking, in which banks set monetary policies including the amount of money in circulation, is an advanced form of Bolshevik communism.  By controlling the value of money governments or banks are able to strip the economy of its capitalistic infrastructure, and leaving a trend towards socialism in its wake. We will find this out at the same time we discover a new economic “gold” standard for money. Something stable and finite in supply in relation to what BJ calls “production” and/or cost.

The INDIRECT effects (or implicate for the astute!) are far more damaging than the direct.

Games evolve out of the economic circumstances of their time.

It is not uprising to see a person like BJ or much of the community suggest that one can levate an economy by simply taking money from the rich and giving to the poor. Or in poker we see the popular marketing attitude (not by good regs!), which suggests that over-raking good players and passing that money to the recreational (bad?) players can stimulate and economy.

Here we need to only refer to a perfect analogy to show the foolishness of the logic:

(Homer tries to pull his own feet out of quicksand)
Only by incentivizing the brightest and most creative of the population (ie capitalism) can you build a proper society that can take care of its lower class and raise the standard of living for all.

I hope we all think about this in relation to “central raking”.

Originally Posted by AZMountainHiker View Post
Anyone who plays poker and states that they don’t believe in capitalism is a hippocrite, and if you argue against me you’re a liar too. That’s a fact.

Don’t you see. There are many people that play poker and believe that the monies should be redistributed among the players (plus a fee to the “redistributer”)

Originally Posted by elendil200 View Post
The fact this thread exists demonstrates what scum bags reg poker players are. Licking their lips over some poor suckers min wage increase.

And now we come full circle. The ignorant masses that believe that “capitalizing” on the inefficiency of others is immoral.

Poker’s economy and over raked/regulated environment. Or IRL.

Its right there.


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