Labor and Wages

Displaying 1 - 10 of 193

Biden-in-Wonderland: A $15 Minimum Wage Will Not Increase Business Costs

InflationLabor and WagesUnemployment

Blog05/10/2022

In a recent speech, President Joe Biden blamed inflation on businesses raising prices and told them that they needed to lower their business costs -- but boost wages. You do the math.

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Are Equal Pay Arguments Based upon the Labor Theory of Value?

Free MarketsLabor and WagesPraxeologyValue and Exchange

Blog04/19/2022

Arguments for equal pay are popular in our body politic, but what happens if some of those arguments are based upon the faulty logic of the labor theory of value?

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Capital versus Labor: The Great Decoupling

Labor and Wages

Opponents of markets claim that worker wages have not kept up with worker productivity. This incorrect claim is based on two mistakes in estimating wages. 

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Mandatory Holidays Mean Less Freedom and Flexibility for Workers

Bureaucracy and RegulationLabor and Wages

Blog12/28/2021

Workers should have the freedom to take their time off when they need it most. Official government holidays don't actually mean more time off. They just mean less flexibility.

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Can a Libertarian Work at a Public University?

Labor and Wages

Blog10/01/2021

In real life, the labor market includes government employers. So the fundamental question is whether or not a laborer can morally seek out the highest wage offered by all employers.

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This Is a Weak Jobs Recovery

Labor and Wages

Blog07/09/2021

The United States’s jobs recovery is extremely poor, especially if we consider the size of the monetary and fiscal stimulus and the spectacular upgrade to GDP estimates.

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Keynes Said Inflation Fixed the Problems of Sticky Wages. He Was Wrong.

Labor and Wages

Blog07/07/2021

In Keynes's day, wages were being artificially inflated by labor union contracts. Unemployment rose. But then Keynes decided inflation would solve the problem by lowering real wages. Here's why that's a bad idea. 

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No, Bernie, Collegiate Athletes Do Not Need a Union

Labor and Wages

Blog06/26/2021

The Sanders proposal comes with all of the hidden costs and other unwanted surprises that one would expect from a politician who has supported totalitarian governance for all of his political life.

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Wages, Prices, and the Demand for Money: Keynes Got It All Wrong

Labor and Wages

Blog06/18/2021

When markets are mostly free, prices adjust freely and constantly to adapt to new realities. Yet Keynes failed to understand how market rigidities are caused by government intervention. He blamed markets instead.

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Is Guaranteed Basic Income the Solution to Robots Taking Our Jobs?

Labor and Wages

Blog06/14/2021

The automation doomers assume that when jobs are eliminated by automation in one place, that the number of jobs are permanently gone. For this to be true, there would have to be no growth in the need for labor elsewhere.

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