Labor and Wages

Recorded in Tampa, Florida, on February 17, 2024.

Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.

Economist Peter St. Onge summarizes some of the major financial and government news stories of the day.

Bob goes solo to discuss a recent Twitter controversy, in which opponents of a proposed tax argued that unrealized capital gains couldn't possibly be a form of income.

Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.

Economic giant Robert Solow died in December 2023. He was a Nobel laureate, and four of his PhD students went on to also receive the Nobel. He is known for the growth model named in his honor. 

Higher education promotes itself as the leader in equitable outcomes, but the reality is quite different, especially when it comes to women.

The student loan program is descending into chaos and the Biden administration is clueless about what to do. Furthermore, the value of a college education continues to fall while college costs increase.

The student loan program is descending into chaos and the Biden administration is clueless about what to do. Furthermore, the value of a college education continues to fall while college costs increase.

California governor Gavin Newsome has signed a draconian new bill meant to raise pay for the state's fast-food workers.