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

The Theoretical Exploration of Dimensions 0-5

Following is my personal interpretation of dimensions 0-5 of our physical existence, as well as descriptions of the shapes that inhabit such existences and the process by which I envisioned them. I arrived at these conclusions by observing the differences between points, lines, squares etc. and studying the nature of their relationships. I am sure there are many who would disagree with my conclusions. Lastly, before I begin it is important to state that in my view, we are not living exclusively in the third dimension. Rather, dimensions should be used as lenses with which to view our spatial, chronological … Continue reading The Theoretical Exploration of Dimensions 0-5