Corbyn's Anti-Human Maximum Wage Madness Would be a Disastrous Piece of Economic Vandalism!
Thursday 12th January 2017
Putting a ceiling on the maximum amount people can earn is not only economic suicide, but also runs counter to everything we have learned about human nature in the past couple centuries.
It is not even slightly surprising that Jeremy Corbyn thinks a maximum wage would be a good idea, him being a member of the now endangered species, Trotskius Nineteenseventius. And is just one more reason why he will never return the Labour Party to power, as if we needed any more.
The simple fact of the matter is that people are motivated by the thought that by doing something better, faster or more efficiently, they will improve their lot, and that of those family and friends close to them. Put an upper limit on how much someone can earn and you remove the incentive for people to strive to do better. This in turn will be a huge hit for the economy, lowering production and the the amount of tax the government can collect to pay for all the public services people like Mr Corbyn are always demanding.
Or at least that's what would happen if people weren't human, and almost by definition programmed to find a way around counter intuitive laws, in order to succeed. And inevitably, as was the case with the now discredited central planned economies operated for half a century in eastern and central Europe, the only consequence of an upper limit on legal income will be the creation of a huge black economy!
This might be a relaunch of the Labour leader, but it's definitely not a re-branding exercise.