FMF NEWSLETTER 1 NOVEMBER 2017

Dear friend of the FMF

In this week’s feature article, Jessica Canada explains why economic laws tell us that raising the minimum wage, despite the best intentions, is untenable. Advocates of the minimum wage use the goal of helping the poor as justification of their argument, but a minimum wage forces companies to raise the cost of their products, thus negatively impacting the very people who are supposed to be helped. The only moral, substantive way to help the poor is to address structural problems in the South African labour market, such as improving education and decreasing job regulations.

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Don’t allow altruism to blind you to the economic laws that govern labour – JESSICA CANADA

In the debate over minimum wage, people often become distracted by their inner altruism and ignore the logic behind the economic laws that govern labour markets and the macroeconomy of South Africa. “People should be able to access healthcare and higher education”. “People should be able to earn a living wage”. The problem with these normative statements is that merely subscribing to them provides little insight into the mechanisms by which these things could be achieved. Simply put, economic growth and the development of a skilled workforce are the keys to raising wages, not further regulation.

“Amandla! Awethu!” means power to the people, not government – it’s time to decentralise!

Wednesday, 15 November MEDIA BRIEFING – Leon Louw, on SAA @11h00 @ FMF – more info to follow

Wednesday, 22 November EVENING EVENT – Adrian Saville, @17h45 @ FMF – more info to follow

LIVE STREAMING IS AVAILABLE FOR ALL EVENTS via the FMF’s Facebook page: https://www.facebook.com/FMFSA/  –  All events are then uploaded onto ChannellFMF on YouTube and are accessible through our website http://www.freemarketfoundation.com/ click on the + Follow FMF button on top right corner

OTHER event
Saturday, 4 November The Impumelelo Social Innovations Centre Award presentation in Cape Town @ Artscape Opera House, Cape Town – RSVP http://www.freemarketfoundation.com/View-Event?i=159

SA slides in ranking on ease of doing business
Capitalism’s critics unable to land a punch, let alone deliver a knockout
The world's poorest people are getting richer faster than anyone else
Tim Cohen: Joining the dots leads to a smoking gun
Free market, not freebies, key to New Zealand’s wellbeing

Media digest SEPTEMBER 2017 for all media coverage

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If you have a Twitter account:

1. Please follow us on twitter (@FMFSouthAfrica) and retweet at least one of our daily tweets
2. When you receive our weekly newsletter, open the feature article and tweet one of the three options at the start of the article
3. Visit our YouTube channel (https://www.youtube.com/user/channelfmf), select one of our many videos, click share and tweet
4. Ask family and friends to join our campaign to reach more people by doing the above

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4. Ask family and friends to join our campaign to reach more people by doing the above

Watch our YouTube videos on ChannelFMF

*New Knox Msebenzi – Common myths about nuclear
Jannie de Villiers –  Threats to food security... including transformation uncertainty
Neil Emerick –  Will South Africa crash and burn?
Garreth Bloor –  Want economic growth? Repeal bad law
Eustace Davie – Imagine living in constant fear of losing your home
Temba A Nolutshungu – Time for South Africans to live and let live
Temba A Nolutshungu – Statist ideologies vs Individual sovereignty
Russell Lamberti – South Africa: failing economy and life after the downgrade
Jasson Urbach & Johann Serfontein – NHI pie in the sky
Martyn Davies and Leon Louw – The secret of China’s success: innovation and entrepreneurship
South Africa: The Solution (1987)
Twin Peaks - how Treasury will cost SA an additional R4,8bn per year
FMF –  A constitution worth fighting for (1996)
Leon Louw – Radical Economic Transformation
Rex van Schalkwyk – Rule of Law 1 of 2 – What it is not
Rex van Schalkwyk – Rule of Law 2 of 2 – What it is

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