Labor and Wages

Displaying 1 - 10 of 177

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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Why Keynes Was Wrong about Unemployment

Labor and Wages

Blog06/10/2021

Henry Hazlitt’s second law is the observation that everything in Keynes's General Theory is either unoriginal or untrue. Keynes's theory of unemployment equilibrium is the most original aspect of his work. 

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The Economics of the Extended Family: From Risk Management to Human Capital

Labor and WagesPoverty

Blog06/03/2021

Extended families have long functioned to provide alternatives to the state in terms of risk sharing and mutual aid. Other economic benefits include the refinement of human capital and economies of scale.

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How Families Fuel Economic Development

Labor and Wages

Blog05/20/2021

Stable families offer better conditions for specialization and economies of scale. This in turn fuels both social and economic development. 

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How Trillions in Newly Printed Money Created a Labor Shortage

Labor and Wages

Blog05/03/2021

The US has millions of idle workers. In a normal economy this would put a damper on demand. But in our money-printing economy, consumer demand is surging even as production falls behind. An employment bubble is the result. 

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Robots Won't Destroy Us: How Automation Creates Jobs

Labor and WagesCalculation and KnowledgeCapital and Interest TheoryProduction Theory

Blog04/10/2021

The goods created by automation—and the labor freed up by it—become inputs for industries downstream.

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VAWA Balkanizes Rights, Cynically Erasing Male Indians

Labor and WagesPhilosophy and MethodologyPolitical Theory

Blog04/07/2021

Identitarians present a parody of human rights: only approved groups are recognized as victims. Unapproved individuals are lost in the balkanization despite the fact that, in the final analysis, only individuals suffer and cry out for help.

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Why Biden and Krugman Are Wrong about the $15 Minimum Wage

Bureaucracy and RegulationLabor and Wages

Blog02/19/2021

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. 

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The High Cost of Using the Minimum Wage as a Form of Welfare

Labor and WagesTaxes and SpendingU.S. Economy

Blog02/19/2021

Social activists now regard the minimum wage as another welfare program that can reduce the costs of programs like Medicaid and food stamps, and can reduce inequality. But the minimum wage is very poorly targeted for these purposes.

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