Tag Archives | minimum wage

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Waging War on Work

This piece was originally published by the Ludwig von Mises Institute on February 11, 2013. Employment law is a mainstay of state economic policy. Few question its efficacy as a means to correct “market failures”—like unlivable wages for meaningful work—that would leave society in shambles. In fact, no serious debate exists among American policymakers about…
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MW

Minimum Wage Distorts Reality

A price control is a legal price established by the government that forbids the selling of a good or service above some maximum or below some minimum price. It is an example of triangular intervention—the state coerces two parties to exchange at a certain price. The direct consequence of the effective maximum price control is…
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Romney

Romney is Wrong on Minimum Wage

When asked about the minimum wage over the weekend, leading GOP presidential candidate Mitt Romney gave the following response: “My view has been to allow the minimum wage to rise with the CPI [Consumer Price Index] or with another index so that it adjusts automatically over time. I already indicated that when I was governor…
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McDonalds

$12/hour minimum wage?

Saving our economy is only a minimum wage hike away, according to James Galbraith. Galbraith is not the first to commit such a basic economic error, as we have pointed out. In Galbraith’s words: “Raise the U.S. minimum wage. By a lot — let’s say, to $12 an hour, from the current rate of $7.25.”…
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Minimum Wage 2

Minimum Wage: $100/hr!

San Francisco is not the only area on the precipice of a minimum wage increase. This NYT article states that 8 states will see an increase in minimum wage on the new year. While most economists do, indeed, agree that the inevitable result of minimum wage is increased unemployment, the article, nonetheless, trots out several…
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Minimum Wage

Think Progress? Think Again.

The fallacy of the minimum wage has reared it’s ugly head yet again! Progressive political blog Think Progress announced on Wednesday that San Francisco will be the first US city to have a minimum wage above $10. Citing the Economic Policy Institute, they wrote: There are eight states that have legislated annual, inflation-linked increases in…
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