Aggregated Data Hides the Damage Done by Minimum Wage Hikes
Much of the harm is disguised by focusing on forecasts of higher aggregate income for the poor. Individuals, on the other hand, are another story.
Much of the harm is disguised by focusing on forecasts of higher aggregate income for the poor. Individuals, on the other hand, are another story.
Rising unemployment is just one outcome of minimum wage mandates. Capital accumulation and labor productivity will also be hurt.
If leaders are serious about economic recovery after lockdowns, they need to dispense with authoritarian controls and let markets work. Daniel Lacalle considers interest rates, inequality, stakeholder theory, global debt, and much more in this powerful discussion of today's economic reality.
Much of the harm is disguised by focusing on forecasts of higher aggregate income for the poor. Individuals, on the other hand, are another story.
Echoing Hoppe and public choice theory, Professor Philipp Bagus explains how politicians enjoy asymmetric rewards for exaggerating risks and creating fear. The result is gross policy errors we will all pay for over many decades. Don't miss this show!
Eugenicist Progressives introduced the minimum wage, because it was well suited to perform the Progressives’ dirty work of discriminating against (what they considered) the least productive by making them unemployable.
Dominion Voting Systems is a private company in name only. It is a de facto government agency which gets its revenue through taxpayer exploitation. As such, it should be considered ineligible to sue anyone for defamation.
Behavioral economists and psychologists define as irrational anything that doesn't fit into a narrow model of behavior. Anything "irrational"—like buying the "wrong" stock—must be fixed with government regulation.
Let's take a sober and even-handed look at what economics and empirical studies have to say about minimum wage hikes. Krugman and Biden claim there's no evidence these hikes affect employment. But they are being misleading.
Not only will these amendments reduce the abuse of emergency declarations, but they will also help to decentralize power within Pennsylvania. While COVID-19 has allowed the executive branch to run wild, Pennsylvania is actually structured in a way that makes the decentralization of power easier.