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Category Archive for 'Price Controls'

Quite literally almost every single person involved in college athletics/kidney donations gets paid except the very people who are generating the lion’s share of value in the first place. Tell me an argument in favor of banning kidney sales and then insert “college athlete” and see how that sounds. Of course, neither the athlete nor […]

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This sort of article is either why I started blogging in the first place, or am on the verge of quitting. It’s extraordinarily disingenuous and frustrating. Here is one example: With unions only a distant memory for many people, federal minimum-wage legislation has become the best hope for propping up wages for low-income workers. And […]

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A surprisingly large number of smart people support raising the minimum wage. In two separate conversations this week with very intelligent people, it was argued to me: That there is some research (I once wrote a book review of this) suggesting that labor markets are monopsonistic. And I can draw you a picture of how […]

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There is a well-regarded theory in economics (and popular?) that suggests that during slack economic conditions, we should welcome a bit of unexpected inflation from the Fed. Why? Well, for one, if you believe in a sticky wage view of the world, and the psychological and practical difficulties with employers lowering wages to existing workers, […]

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Not really in the mood to write about this – we live in a world of economic creationists. Nonethless, among the zillions of excellent logical questions one might ask proponents about it, only to be dodged, Jason Brennan (of Why Not Capitalism fame) asks this: If you believe employers owe employees a living wage, do […]

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So, New York State (who is that, exactly?) passes an historic increase in the minimum wage. It argues, implicitly, that raising costs to $15 per hour will benefit workers and not have the adverse consequences economists warn about. Of course, there are myriad adverse consequences, not just unemployment, so keep your eye on the ball. […]

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Seen at my local public library: Now we can self check-out library books.   And seen in Sweden, now you can shop entirely with no people:

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In the latest paper on the impacts of minimum wage increases on the labor market opportunities for the targeted populations: (wait, before I post the findings, you can obviously dismiss them because I have an agenda, and second, I remind you again that even if the findings below showed the opposite, that says little about […]

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Robert Reich is telling us: Some opponents say minimum wage workers are teenagers, seeking some extra pocket money. WRONG! About half of minimum wage workers are 35 or older, most are women and many are key breadwinners for their families.” OK, well, let’s see what the government itself tells us from the raw data: ‘ […]

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As an unbiased paragon of science, I have scoured the professional economics literature to find out that despite college tuitions increasing at twice the rate of inflation for the past three decades, and despite the fact that college tuition as a share of median household income has more than doubled over this time period, that […]

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