All Posts Tagged With: "minimum wage"
Labor Economics from a Free Market Perspective: Employing the Unemployable
Notwithstanding its title, this is not a textbook on labor economics. Rather, as the author stipulates in the introduction, it is “an ideological book.” It is a collection of papers written, sometimes with coauthors, by Block during the 1990s and 2000s on various labor-related topics. Of the 29 chapters, all but three were first published [...]
21May2009 | Charles W. Baird | 0 comments | ContinuedWorker Freedom in Peril
The Alliance for Worker Freedom (AWF) recently published its 2007 Index of Worker Freedom (IWF).The index ranks each of the 50 states on the basis of ten variables that affect the freedom of workers. “Freedom” is defined properly as the absence of interferences with individual worker choices.
After explaining the ten variables used and identifying [...]
How Free Markets Break Down Discrimination
One of my favorite lines in the classic movie The Magnificent Seven comes when a traveling salesman and his partner offer to pay the local undertaker to haul a dead Indian to boot hill. The undertaker refuses. He’d like to oblige, he explains, but the townsfolk are so prejudiced against burying Indians alongside whites that [...]
1Apr2008 | David R. Henderson | 0 comments | ContinuedThe Four Mistakes of Nonlibertarians
George Leef is book review editor of The Freeman.
In Libertarianism: For and Against (Rowman & Littlefield, 2005), two philosophers debate the merits of libertarianism. Arguing in favor is Professor Tibor Machan, a contributing editor to The Freeman. His opponent is Professor Craig Duncan, who attempts a refutation of libertarianism and seeks to persuade readers that [...]
Adam Smith in China
James Dorn is a China specialist at the Cato Institute and professor of economics at Towson University in Maryland. A shorter version of this article first appeared in the Times of India, January 24, 2007.
China’s transition from plan to market since 1978 has not only increased prosperity but also has led to a new way [...]
Raising the Minimum Wage Will Do No Harm? It Just Aint So!
Richard McKenzie is a professor of economics and management in the Merage School of Business at the University of California, Irvine. He is coauthor (with Dwight Lee) of In Defense of Monopoly: How Market Power Fosters Creative Production, forthcoming this year.
President Bush and the Democratically controlled Congress had all but done it. As this goes [...]
At the Intersection of the Minimum Wage and Illegal Immigration
Howard Baetjer is a lecturer in economics at Towson University.
This question from a former student named Blake addresses the interaction of two hot political issues: “I remember in class that raising minimum wage is a bad thing to do. My question to you is, since illegal immigrants don’t get paid minimum wage most of the [...]
Minimum Wage, Maximum Folly
Walter Williams is the John M. Olin Distinguished Professor of Economics at George Mason University .
The big Associated Press story for last October 11 was that “More than 650 economists, including five winners of the Nobel Prize for economics, called Wednesday for an increase in the minimum wage, saying the value of the last increase, [...]
Economists Against Economics
Five economists who either won the Nobel Prize in economics or who served as president of the American Economic Association—and three who did both—recently joined over 600 other economists in urging the federal government to increase the minimum wage. The signatures were gathered by the union-backed Economic Policy Institute (EPI), which unsurprisingly supports substantial government [...]
1Dec2006 | Sheldon Richman | 0 comments | ContinuedRaising the Minimum Wage Will Discourage Migration? It Just Aint So!
In “Raise Wages, Not Walls,” an op-ed in the July 25 New York Times, Michael Dukakis and Daniel Mitchell make a proposal that is breathtaking in its misunderstanding of basic economics. After showing problems with the various congressional proposals to limit illegal immigration, they give their own solution: increase the minimum wage. They write, “If [...]
1Nov2006 | David R. Henderson | 0 comments | ContinuedKeynesian Economics and Constitutional Government
Last month 650 economists called for an increase in the federal minimum wage, saying it was the responsibility of the government to “improve the well-being of low-wage workers” by mandating the terms under which people may be employed. Among these economists were five recipients of the Nobel Prize in economics. One of them was Lawrence [...]
1Nov2006 | Richard M. Ebeling | 0 comments | ContinuedWhat Is Going on in France?
Pierre Garello is a professor of economics at Aix-Marseille University, France.
It is sometime painful for a liberal—I will be using that word in its old, continental, sense—to live in France, especially in southern France: so much light, so many beauties given by nature, and at the same time so much wealth wasted! Riots; strikes; blockage of [...]
Decency Requires a Minimum-Wage Law? It Just Ain’t So!
The libertarian cliché that “at least the Republicans are right on economic policies” suffered another setback on the August 11, 2003, Los Angeles Times op-ed page, where Republican Douglas MacKinnon argues that anyone who cares about the poor should be ashamed of the failure of the Senate to raise the minimum wage. His essay is [...]
1Mar2004 | Aeon J. Skoble | 0 comments | ContinuedThe Luckiest Generation
W. Michael Cox, senior vice president and chief economist at the Federal Reserve Bank of Dallas, and Richard Alm, a business writer, are co-authors of Myths of Rich and Poor: Why We’re Better Off Than We Think.
Meet the Luckiest Generation.
When it comes to the material facts of life, the young men and women coming of [...]
Unemployment by Legal Decree
Consider the person who is incapable of earning the legally-fixed minimum wage.
Last year, when Congress was debating the question of a new minimum wage law, labor unions were strong in their praise of such a bill. When the new minimum of $1.00 an hour for workers in “covered” industries became effective on March first [...]
On Campus
Intercollegiate debating in the United States goes back to the 1870’s when teams from New York University and from Rutgers challenged one another. Such local rivalries gradually grew into regional contests and, more recently, into a national program with a single resolution selected annually for competition in colleges and universities.*
* A similar national program [...]
21Nov2009 | agardner | 0 comments | Continued-
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The End of Prosperity: How Higher Taxes Will Doom the Economy–If We Let it Happen
By Arthur B. Laffer, Stephen Moore, and Peter J. Tanous
