Black Americans disproportionately suffer from kidney disease. Our current policy bans any market incentives from helping them out. By any definition of racism from Kendi and others, therefore having a price control of zero in kidneys IS RACIST. And it is therefore ANTIRACIST to advocate for more market oriented organ policies. Of course, the Hash […]
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Posted in Fun Facts, Price Controls on Mar 4th, 2021
What that image depicts is what share of an “adequate family of four budget” that a minimum wage earner would make if she worked full-time (52 weeks @ 40 hours). That budget was determined by the Bureau of Labor Statistics and included what it costs to purchase goods, rents and services, payment of personal taxes, […]
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If (when) Biden’s $15 national minimum wage causes disparate unemployment outcomes of black teens vs white teens, will we strike it down as racist policy? Remember, Kendi tells us that a policy is either racist or anti-racist. We would hope that we distinguish results from intent. Doing the empirical work here is the bread-and-butter of […]
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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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