Tag Archive for Minimum-Wage

Demand Curves and The Success of Capitalism

Two good ones. As milton Friedman has said, no other force has lifted more people out of grinding poverty than free markets and capitalism. The world’s next great leap forward: Towards the end of poverty – The Economist: Nearly 1…

Henderson On The Wages and Blame

Brilliant explanation. Definitely click through, it’s brief and perfect. Blaming the Person Offering you the Best Deal, David Henderson -EconLog: I saw a woman on Stossel tonight who works for McDonald’s. She said she was paid $8 an hour, but…

Minimum Wage Revisited

I post about the govt.-enforced minimum-wage laws here often. They are a particular pet-peeve of mine, and they are  near perfect lesson in the differences between intentions and results. So let ‘s look again. Yesterday’s WSJ offered a nice treat.…

Two Quick Questions To Ponder …

1. If companies/corporations can simply get rich by being greedy, “gouging”, and otherwise scr*wing customers. Why does any company/corporation ever go out of business? 2. If minimum-wage laws are necessary to prevent employers from paying less than that, why does…

Are Volunteers Exploited?

This great cartoon makes me wonder. If we believe that those making a low wage are being exploited, what should we think of volunteers? What about students doing an unpaid internship? (pic via Bastiat Institute) As an aside, I wonder…

It’s Often The Exact Opposite …

Over the last decade I’ve noticed how many issues in economics, or at least the political economy, turn out the exact opposite of what was intended or promised. Now I’m not referring to a slight or even moderate divergence from…