minimum wage

The Nature of Economics

The Nature of Economics

The science of human action, better known as praxeology, is of a different character than the physical sciences¹. It is our best explanation of how creative objects such as people act in the world, and of what we can logically deduce from a few simple axioms. While...

Minimally Convincing

Two high-quality studies of the disemployment effects of the minimum wage are getting a lot of attention.  The first looks at Seattle.  Punchline: This paper evaluates the wage, employment, and hours effects of the first and second phase-in of the Seattle Minimum Wage...

Is A Recession In Sight?

The US economy’s check engine light is on, despite the vocal rhetoric of President Trump, his administration, and the media spewing the same nonsense of a rising stock market and how the unemployment rate has been steadily declining. Trump supporters, as well as...

News Roundup 6/27/17

The hike in the minimum wage by Seattle has caused a 9.3% drop in hours worked by low-skill workers. [Link] The NSA can divert US citizen's data overseas to allow the NSA to avoid Constitutional restrictions on data collection. [Link] Bob Corker says he will block all...

News Roundup 4/21/17

ISIS has claimed responsibility for a terror attack in France that left a police officer dead. [Link] A Harvard study shows that a higher minimum wage makes restaurants more likely to fail. [Link] The Venezuelan government seized a GM manufacturing plant in Venezuela....

Dinner for Two Government Bureaucrats

Scene:  Suburban house in metro Washington, D.C.  A GS-12 bureaucrat with the FDA arrives home and is greeted at the door by his wife. “Hi honey, how was your day?” asks the wife, who had just gotten home from her job with the Department of Labor. “It was great,”...

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