[marketcorrection] Don Boudreaux: Not Letting a Fact Stop a Good Tale

[Email subscription to blog articles]

Posted by Don Boudreaux:
Not Letting a Fact Stop a Good Tale
http://marketcorrection.powerblogs.com/posts/1179341717.shtml


   30 August 2006
   Editor, The Washington Post
   1150 15th St., NW
   Washington, DC 20071
   Dear Editor:
   Harold Meyerson writes that the past thirty years has witnessed a "war
   of American employers on unions" resulting in a "decoupling of
   increased corporate revenue from employees' paychecks" ("Devaluing
   Labor," August 30). He chooses as his argument's crescendo the low
   salaries paid to pilots by Mesaba Airlines.
   Bad example. Mesaba Airlines filed for Chapter 11 bankruptcy in
   October. The low salaries it pays clearly haven't resulted from - and
   certainly haven't resulted in - any "increased corporate revenue"
   pouring into Mesaba's coffers.
   Sincerely,
   Donald J. Boudreaux
   Chairman, Department of Economics
   George Mason University