Minimum wage.

Dec 2018
1,435
Tempe, AZ
PaulSmith69, I googled “artificial economy”. its an “abstract” model of an economy used for analyzing and to understand how populations and markets behave. You believe that analyzing to learn is undesirable? Respectfully, Supposn

https://www.researchgate.net/post/What_are_the_minimum_components_for_an_artificial_economy
An artificial economy is a model, an abstraction of reality. The simplest forms have two agents with "wants", at least one scarce production factor, more than one scarce commodity or service, a basis for exchange (rudimentary institutions) and some level of inequality.
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or refer to https://en.wikipedia.org/wiki/Artificial_economics
Would you feel better with "controlled economy"? :rolleyes:
 
Aug 2010
287
Cliffside Park, NJ
Would you feel better with "controlled economy"?
PaulSmith69, there are different degrees of governing regulations from the extremes of fascism to complete lack of governing, (i.e. anarchy). Do you prefer a government with no law and order, or just government laws and regulations that do not apply to you or conflict with your personal preferences?

Were discussing a wide spectrum of governing systems. I suppose neither one of us are advocating the extreme positions?
Respectfully, Supposn