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Tag Archives: minimum wage
The forgotten viewpoint
Mark Perry, at Carpe Diem, reminds us of some good advice from French economist, Frederic Bastiat: Treat all economic questions from the viewpoint of the consumer, for the interests of the consumer are the interests of the human race. Let’s … Continue reading
Posted in Consumer Viewpoint, Economics, Fallacy
Tagged CARD, Don Boudreaux, Frédéric Bastiat, Mark Perry, minimum wage
3 Comments
The face of the exploited
This is a good post over at the Pretense of Knowledge blog about 13-year-olds building iPhones for cheap. It reminded me of a trip I made to a non-tourist city in Mexico once. Even as a poor college student, I … Continue reading
Posted in Business, Capitalism, Liberty, Power of Incentives, Trade Offs
Tagged exploitation, iPhone, Mexico, minimum wage, Taxicab
1 Comment
Good questions
Speedmaster, at the Pretense of Knowledge, asks a couple of good questions: 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 … Continue reading
Posted in Changing Minds, Critical Thinking, Debate, Economics, Opportunity Cost
Tagged minimum wage, Pretense of Knowldege, Pricing
2 Comments
The Post Office beats Paperboys (and girls)
As a former paperboy, I was a little disheartened to receive my community newspaper in my mailbox instead of on my driveway. I noticed that my name and address was printed on it. I opened the paper and saw the … Continue reading
Posted in Capitalism, Economics, Opportunity Cost, Power of Incentives
Tagged Independent contractor, minimum wage, Youth
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“I support it, but it doesn’t apply to me”
On page 154 of his book The Secret Knowledge, David Mamet wrote: I recognized that though, as a lifelong Liberal, I endorsed and paid lip service to “social justice,” which is to say, to equality of result, I actually based … Continue reading
Posted in Bookmarks, Changing Minds, Critical Thinking, Feedback, Liberty, Politics
Tagged conservative, David Mamet, liberal, minimum wage
6 Comments
Recipe for riots and flash mobs
High minimum wage + Coddled kids + Facebook/smartphones + Cheap public transit + Coddled parents = Flash mobs A. A minimum wage set higher than the market wage rate for unskilled, entry-level teenagers causes high unemployment among this group, producing … Continue reading
Posted in Feedback, Systems thinking, Trade Offs
Tagged Adolescence, Facebook, FlashMob, minimum wage, Philadelphia
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Good Litmus Test
The Amateur Economist has a new blog, The Pretense of Knowledge: A Shout-Out to F.A. Hayek. In this post, he offers a nice litmus test for Federal minimum wage: Is it Constitutional at the Federal level? No. Is it good … Continue reading
A Great Point
Thomas Sowell makes a great point in his column today, Jobs or Snow Jobs. President Obama keeps talking about the jobs his administration is “creating” but there are more people unemployed now than before he took office. How can there … Continue reading
