For the past fifty years, Nigeria’s government has required young people to “serve” for a year under the National Youth Service Corp. This more resembles slavery than service.
According to mainstream economists, the question of whether increasing the minimum wage also increases unemployment is empirical. However, the logic of economic analysis says otherwise.
The Ludwig von Mises Memorial Lecture. Sponsored by Yousif Almoayyed.
New York City’s government has imposed draconian rent controls. The natural outcome, as economists note, has been massive shortages, as apartment owners no longer have an incentive to rent empty apartments.
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.
