Businesses are increasingly unable to stay out of policy and politics. Continue reading Business Is Getting Political—and Personal
It’s not clear that public education deserves the full-throated support it recently received from Democrats. Continue reading What’s Up with U.S. Public Education?
There’s no shortage of lessons for us to learn from the unfolding Mylan scandal. It’s practically a study in the consequences of an uncompetitive market and bureaucratic cynicism. Among all the take-aways from this episode, there’s one thing that stands … Continue reading The Value of Inferior Products
Starting on January first of next year, the City of Philadelphia plans to impose a “soda tax” of 1.5 cents per ounce. The new law—already set to be challenged in court—has proved highly controversial, even within the political left where … Continue reading The Hidden Cost of Public Health
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
Last Thursday, Nicholas Kristof penned an article for the New York Times entitled “Drugs, Greed and a Dead Boy.” The piece provides a dismal account of an industry rife with predatory marketing schemes, ineffective treatments, and captained by covetous sociopaths who care more about making money than they do about public health and are prepared to circumvent FDA regulations in order to do so. Whatever your convictions, Kristof makes a compelling case for regulation based on historical evidence. It’s not until the last paragraph that he writes something that makes me pause: So if you agree with today’s politicians thundering … Continue reading This Essay is Not FDA Approved
About a month ago, I was talking with some friends on the beach and the topic of environmental regulation came up. When I mentioned that I disagreed with strict environmental regulations and subsidies, it became less of a conversation and … Continue reading How Should We Protect Our Environment?