Category Archives: minimum wage

The “Better Deal” is Another Raw Deal

The Democratic Party, recognizing that it has lost touch with many of its former constituents, rolled out its “Better Deal” this week in Virginia.  We have now had Teddy Roosevelt’s “Square Deal,” Franklin Roosevelt’s more famous (or infamous) “New Deal,” Harry Truman’s “Fair Deal,” and now the latest “deal” for the American people.  All of these deals by the way were proposed by Liberal/Progressives, coincidentally or not.  As we should let’s look at this new proposal.  To provide a little… Continue Reading ››

Dueling Economic Proposals: Will They Sway Anyone?

I have so far avoided taking any position on the two main candidates for president.  For my colleague Mark Smith, don’t worry, I will.  I intend to continue the path of avoidance in this blog.  Today I would like to examine and evaluate each candidate’s economic program.  I say nothing about their personal morality, or personality, or anything except economic program as articulated formally.  Donald Trump and Hillary Clinton have both now laid out their plans.  I will look first… Continue Reading ››

Why Job Growth is Stagnant (Not to Mention Other measures)

In a National Review article of June 21, 2016, Michael Barone explored the question of whether the United States economy has shown any growth, and if not, why not.  The article, entitled “Why We have—and Probably Will Keep Having—Sluggish Job Growth,” relies on a recently published book by the economist Arnold Kling, Specialization and Trade: A reintroduction to Economics.  Kling’s argument, supported by economic history and data, begins with this, according to Barone: “[The book is,] among other things, a… Continue Reading ››

Minimum Wage, Minimum Work, Minimum Dignity

California, predictably, has passed a $15/hour minimum wage.  New York is likely to. A few cities have done it already.  Bernie Sanders wants a Federal wage of $15, while Hillary Clinton wants a $12 wage.  And so the issue is once again on the table, at a time when wages are stagnant and unemployment is tepid.  In fact that is why the issue has become so important again to its advocates.  It looks like the high minimum wage is being… Continue Reading ››

Some economic links from the web worth reading

Over on Cafe Hayek, Don Boudreaux has yet another gem on the minimum wage.  I love his economic work so much that I am almost despondent that I’ll never be as logically articulate as he is.  But I’ll keep trying.  In that article I offer an extended quote for the day: One of the greatest services that economics offers to humankind is the demonstration that prices set on markets are not arbitrary dictates. Instead, prices (1) reflect underlying realities and,… Continue Reading ››

Ephesians 6 and Capitalism

Today we heard a sermon on Ephesians 6: 5-9, the text about how Christian slaves and masters should act toward each other and the proper attitudes they should have.  The sermon (and my wife) prompted me to write here on the application of that text to relations in a capitalist-market society.  First, the direct and primary interpretation has to do with master-slave relations.  Slaves are to obey their masters as if they were obeying Christ, while masters are to treat… Continue Reading ››

New Books and More Arguments Against Inequality: Will It Ever End?

There is another new book out on the alleged problem of inequality.  This one is by Anthony Atkinson, a British scholar who wrote Inequality: What Can Be Done?  The book was just released so I haven’t had the chance to read it yet, but Richard Epstein, a legal and economic scholar with New York University and the Hoover Institution, has read it and has written a very good piece on the book and the issue in general.  You can read… Continue Reading ››

The Minimum Wage as Maximum Trouble

McDonald’s just announced a wage increase for its employees to ten dollars per hour.  But the reaction was not gratitude but protests by union-led workers who are advocating for fifteen dollars per hour.  The debate on the wage rate is tied to the equally contentious debate about inequality of income.  I am not wading into the inequality debate again now but will focus on the minimum wage issue. From the start I want those on the other side to understand… Continue Reading ››

The Social Justice Crowd–Again.

Kevin Williamson, writing for the National Review, has perfectly captured the sentiments I have expressed on the Bereans blog on several occasions, when he wrote that the “anti-Walmart” protesters  are in reality just calling for the poorer among us to be stiffed.  Williamson contrasted the elite culture, whim he labeled the “Rolex crowd,” with the common people, whom he called the “Timex crowd.”  Rolex watches are made by upscale manufacturers and sold to the elites by upscale retailers as really… Continue Reading ››

Mr. Obama pivots to the Economy. Is that a good political strategy?

Mr. Obama used his weekend address to try and refocus attention away from disastrous foreign policy news and to something that can motivate his base.  Even Democrats are attacking his “hands  off” approach, with Senator Dianne Feinstein calling him “too cautious.”  So its only natural that Mr. Obama would like to change the subject.    And par for the course, Mr. Obama reiterated his calls for a higher minimum wage, an old stand by and favorite: “Raising the minimum wage… Continue Reading ››