Once again, it appears that Obama has hired the best incompetence that money can buy. Larry Summers may have one of the highest IQ’s on record, but he believes that the mathematical models have something to do with the real world in which investors lose sleep over risk, entrepreneurs lose sleep over making the payroll, and large-company executives lose sleep over making their numbers.

CARPE DIEM: Obama's Chief Econ. Adviser Once Made An Amazing Discovery: Demand Curves Slope Upward

Unfortunately when you lower it, you create a greater incentive to act in ways that are financially impossible to guarantee the safety of those that perform the work. In addition, it also creates the incentive to turn the work into slavery. The wages would move, but prices would not move for the sa...