Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Thomas Sowell: Old Lies

We expect to hear a lot of lies during an election year, and this year is certainly no exception. What is surprising is how old some of these lies are, and how often they have been shown to be lies, years ago or even decades ago. ... MORE


Walter E Williams - Compensating Differences

What economists call an ability to make "compensating differences" is a valuable tool in everyone's arsenal. If people are prohibited from doing so, they are always worse off. You say, "Williams, I never heard of compensating differences. 

What are they?" Jimmy Soul's 1963 hit song, "If You Wanna Be Happy," explained the concept of compensating differences. His lyrics went: "If you want to be happy for the rest of your life, never make a pretty woman your wife. So from my personal point of view, get an ugly girl to marry you." His point was that an ugly woman would treat you better. But more importantly, a less attractive woman's willingness to compensate for her differences enables her to effectively compete with a pretty woman. ... MORE


VIDEO: Murray Sabrin - Economics & The Federal Reserve

The Cruelty Of The $15 Minimum Wage

by Nick Gillespie & Jim Epstein.   The $15 minimum wage just went from "laughable" to "viable"—as a New York Times headline put it—to the law of the land for millions of New York and California residents. In April 2016, the Empire and Golden states almost simultaneously passed laws that will boost the state-mandated wage floor to $15 over the     ... MORE

Raising Minimum Wage Is Perfect Way To Kill Summer Jobs

by Jonah Goldberg.   Expect more teenagers on the streets. I had a lot of summer jobs. I was a foot messenger in New York for a couple of summers. I worked as a receptionist and mail-room flunky. Before my junior year of high school, I briefly sold ice-cream snacks — sort of yuppie bonbons — on the street for a company called Love Bites.     ... MORE

Hyprocrisy On Steroids: California Labor Union That Fought To Impose $15 Minimum Wage Now Wants An Exemption

The point is to drive up the costs of their competition.  The labor union that led the charge for a $15 minimum wage hike in cities across California is now moving to secure an exemption for employers under union contracts. The Los Angeles County Federation of Labor buried the exemption on the eighth page of its 12-page proposal for the  ... MORE

VIDEO: John Stossel - Trump Appeal

Economic Inequality Is Not Increasing. Propaganda Is

by Gary North.    It never ends. We are besieged by articles on today's increasing economic inequality. These articles have three things in common: 1. Each one has a favorite explanation/boogeyman. 2. Each one calls for political reforms to make things more equal. 3. Each one fails to mention Pareto's 20/80 law. Here is the main problem with these  ... MORE

Ed Spillane: Many Judges Continue To Jail Defendants Without Money To Pay Fines. Here Are The Alternatives.

Why one judge refuses to send such folks to jail.   Melissa J. showed up in my court last year with four kids in tow. Her children quietly watched from a nearby table while I spoke with her. The charges against her — driving with an invalid license, driving without insurance, not wearing a seat belt, failure to use a child safety seat properly  ... MORE

$15 Minimum Wage Follies In California And New York

by Ronald Bailey.   Good intentions, but a near total failure as an anti-poverty policy. Both California and New York have just adopted measures to raise their minimum wages to $15 an hour over the next few years. Los Angeles Mayor Eric Garcetti hailed the increase, declaring, "Today California leads the nation once again, passing a historic    ... MORE

When Did The U.S. Repeal The Laws Of Supply & Demand?

by A. Barton Hinkle. Of soda taxes & minimum wage. Back in October, The New York Times reported that the law of supply and demand still works. "Yes, Soda Taxes Seem to Cut Soda Drinking," the newspaper told its readers, relating the results of Mexico's new tax on sugary beverages. Mexico's measure imposed a 10 percent tax on soft drinks, and so  ... MORE

Higher Minimum Wage Equals Higher Prices, More Taxes

by John Seiler.     I have dinner once a week with some friends here in Orange County. I set a limit of $20 for beer and food, or $80 a month. When the state minimum wage jumped to $10 an hour from $8 a couple years back, the restaurants increased their prices. So I cut back from a full meal to appetizers. It’s less enjoyment, but, as President John F. ... MORE

The $15 Minimum Wage Will Kill Jobs. Should You Care?

by Peter Coy.   Mandated unemployment for low-skill workers. This is a story about ethics and economics, winners and losers, and the philosophical muddle on both ends of the political spectrum, as told through two of the hot-button issues of the 2016 U.S. presidential race: the minimum wage and free trade. Start with an unpopular but  ... MORE

What If The Minimum Wage Increase Is A Fraud?

by Andrew Napolitano.      What if the latest craze among the big-government crowd in both major political parties is to use the power of government to force employers to pay some of their employees more than their services are worth to the employers? What if this represents an intrusion by government into the employer-employee       ... MORE

Paul Bedard: Americans Are Now Spending More On Taxes Than They Do On Food, Clothing And Housing Combined

After April 24, you get to work for yourself.    A tax advocacy group on Wednesday revealed that Americans spend more on taxes than their whole budget for food, clothing and housing. The Tax Foundation, in its annual report on when the nation as a whole has earned enough to pay its taxes, announced the date as April 24. "Tax Freedom Day  ... MORE

VIDEO: John Stossel - Students And Socialism

That Weirdly Interesting Libertarian Party Debate On Fox

by Jeffrey Tucker.      Hooray for John Stossel! He has dedicated two issues of his wonderful show on Fox Business to hosting a debate between Libertarian Party aspirants to the presidency. The format is great. The questions in part one were solid. John does an excellent job. And the candidates were fascinating to watch. Within the LP itself, this    ... MORE