Letter to the Editor from the October 13th Lariat.
Living wage impractical
In light of the Lariat's editorial piece "University should keep staff above poverty line," as an economics major I feel compelled to provide an alternative perspective. Keep in mind that economics is regarded as a social science. Economists care for the welfare of the whole as much as anyone in Students for Social Justice.
To raise the "living wage" from $5.65 to $10.29 would be economically egregious to students and faculty.
Such a policy would require that money be reallocated from one area of Baylor's budget to another.
Money does not just come out of the sky.
The only internal funding sources I can think of would be to cut faculty salaries and institute a hiring freeze. If internal wealth is not redistributed, then it has to come from external sources. These external sources include tuition, fees, grants, endowments and debt.
Implementing a "living wage" is, in reality, just redistributing wealth. A redistribution in wealth means that your targeted party may win but others lose.
Is that what we want? One party wins, but another loses. Is that Christ-like?
Michael Khaleq
Finance and economics 2006
My reply:
Eat me Michael. Eat me big time. "Is that Christ-like?" You horrifying, horrifying moron.