The minimum wage continues to be pushed by those on the left as a way to confront income inequality. On the right, there are vigorous rebuttals, focusing mainly on both the theoretical and empirical case against price controls. The New York Times has come up with their spin on this, questioning the motives of those […]
Archives
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Minimum Wage Ad Hominem courtesy of the NYT
11 Feb 2014
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In a huge win for economic analysis triumphing over politics, the state department today released a report showing that the Keystone Pipeline will not increase environmental emissions of greenhouse gases over alternative production realities. This is a big blow to the environmental lobby as it makes it more difficult for Mr. Obama not to approve […]
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Just in time to support this weekend’s superhero activities, Russ Roberts and John Papola give us the Superhero anti-model. Don’t be a Super Crony! Unfortunately, these characters are all too real…and increasing in strength seemingly by the day.
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This is the gift that keeps on giving for blogging Bereans; Dr. Wheeler has ably commented in his post today on the minimum wage but no sooner did he publish it than I found a piece by Elizabeth Stocker making the “Christian” case for the minimum wage. Please read her article and provide your response […]
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Argument for focusing on Wealth Inequality evaporates. Will this stop Mr. Obama in his speech tomorrow?
27 Jan 2014
Mr. Obama continues to focus on wealth inequality as the causal force driving lack of opportunity, and is expected to push to some degree in his SOTU speech. As we discussed last month, Mr. Obama asserts this is “the defining challenge of our time.” Notice the reason this is so important: it is a difficult […]
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Always for the good of mankind, you see. Milton Friedman used to note that there are always two groups pushing for a public policy: the public front group which was supportive of a particular cause, and the private interest group that would benefit. No one ever advocated for government benefits to enrich themselves, rather there […]
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We’ve had tons of economic news worth highlighting over the last month, but Christmas offered much more fun than writing blog posts. So here is a quick review of several economic issues that will continue to be issues in 2014. First up is the Senate confirmed Janet Yellen as the first female Federal Reserve Chair […]
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Quote for the Day! From Henry Hazlitt
29 Dec 2013
It is not merely a fallacy, therefore, but a sham humanitarianism, and a cruel deception, always to insist on wage-rate increases whether or not conditions justify them, and always to resist wage-rate reductions whether or not conditions require them. From Hazlitt’s fantastic dissection of the whole system of Keynesian fallacies, in The Failure of the […]
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Quote for the Day! Michael Novak
20 Dec 2013
It is not so much the asceticism of biblical teaching, as its call to creativity and inventiveness, that accounts for the dynamism of Jewish and Christian civilization, including economic dynamism. While some aspects of asceticism are certainly helpful for a culture, such as the idea of deferred gratification, what really makes civilization thrive is when […]
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Reaping and Sowing applied to Obamacare
18 Dec 2013
I am one Berean that believes there is, in general, an ethical cause and effect that we see in this life. I say “in general” in the same sense that we view wisdom literature in the Bible; wisdom that is generally applicable while not always on our timetable (see Psalm 73 for one psalmist’s lament […]
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach