Universal Basic Income is Probably Not the Future of Welfare

Financially and politically, the feasibility of a meaningful UBI program is doubtful. Continue reading Universal Basic Income is Probably Not the Future of Welfare

Advertisements

Of Course Minimum Wage Reduces Employment

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