When would it make sense to use dollar bills for heat? Continue reading Money to Burn?
Some highlights from Gallup’s report on 30 years of declining US productivity. Continue reading Highlights From Gallup’s No Recovery: An Analysis of Long-Term US Productivity Decline
Chinese subsidies are harmful, but not to American consumers. Continue reading Americans Aren’t the Ones Who Should Be Mad about Chinese “Dumping”
The 2015 Census report indicates a recovering America. But household income data are reliably opaque. Continue reading Census Data Are Weird
A new study of 24 medical schools across 12 states by Dr. Anupam B. Jena, Andrew R. Olenski, and Daniel M. Blumenthal—all of Harvard Medical School—shows that male and female doctors are often paid disparate salaries, even when accounting for … Continue reading Doctor Paidless? Eh, Maybe.
The debate over minimum wage is one of the most confused arguments in American public policy. Although on its face minimum wage appears to be a promising and simple idea, it is, in fact, a very bad policy that has … Continue reading Why Minimum Wage Fails and What Will Succeed
In his opus, Economics in One Lesson, Henry Hazlitt devotes an entire chapter to minimum wage laws. He’s quick to identify a semantic problem that lies at the heart of the debate on minimum wage. “…for a wage is, in fact, a price. It is unfortunate for the clarity of economic thinking that the price of labor’s services should have received an entirely different name from other prices. This has prevented most people from realizing that the same principles govern both. Thinking has become so emotional and so politically biased on the subject of wages that in most discussions of … Continue reading Of Course Minimum Wage Reduces Employment