http://www.prospectmagazine.co.uk/2009/08/fewer-jobless/

Thus the concept was nothing new: just rolled out universally.

The highly erudite economic arguments all omit what is the most critical aspects of this nonsense: the simple reality that anyone trying to survive on MW is invariably then Benefit-Dependent.

Thus the state and more critically, the taxpayer, suffers once again, the cost and clumsy reality of Multi-Level Bureaucracy.

Even more insane is the fact that a worker on MW will suffer the impact of National Insurance and Income Tax!

And then the state has to give back a raft of benefits including Housing Benefit, as the MW Worker cannot afford to live!

Which makes no sense whatsoever.

Britain is well overdue for complete Fiscal Reform: and politicians who for once and at last understand truly Real Wealth Creation and thus Real Fresh new Long Term Job Creation.

And when the real economy grows, then payrates self-solve, with no necessary governmental intervention: as Supply and Demand take over and employers must like all capitalists, bid for a scarce resource: workers.

I wholeheartedly agree with Charlie’s earlier comment about Germany: economic success and longevity will and can only emerge from primarily education: and thereafter Government establishing a cogent economic base which rewards genuine wealth creational activities: and punishes speculation.

An economy built on the twin illusions of Financial Services and property price Booms will eventually fail everytime: as it did in Heath-Barber’s Boom-Bust; Thatcher-Lawson’s Boom-Bust and now the even less regulated Blair-Brown Boom-Bust.

Yet now, rather too late, Brown, Mandelson and Darling Darling et al suddenly hail industry as the key to their and the state’s salvation!

In their dreams!

Rafts of grads with worthless and pointless “Degrees” from ersatz “Universities” are pretty useless at designing satellites, silicon chips and computers.

Here are my analysis and conclusions:

http://axisoflogic.com/artman/publish/Article_29357.shtml

Several of the comments bove point to Labour’s grosser failings.

http://www.byrnetofferings.co.uk/2009/09/gerogia-elliot-minimum-wage-and-youth.html

As for the minimum wage generally, I think there’s a lot more things that need to be reformed that cause unemployment before moving onto the placebo that the NMW is.