The great Krugtron the Invincible argues the minimum wage can be increased without much consequence. He says there’s “hardly any cost to raising it,” and that “we can raise these wages without losing lots of jobs.” Notice the weasel…
Daily Analysis
Sensible Swiss Voters Crush Proposed Minimum Wage Mandate
I’m beginning to think that people from some nations are smarter and more rational than others. That may explain, for instance, why voters in Estonia support fiscal restraintwhile voters in France foolishly think the gravy train can continue forever. But I’m not…
Can Government Help Workers by Making Them More Expensive?
I wish there was a magic wand that somebody could wave and all of us would have more money. Or maybe Santa Claus could play that role, or some version of the Tooth Fairy. And if that magic person only had limited powers, I would want more money specifically for those…
Three Positive Signs from the New Chair of the Federal Reserve
Like John Stossel and Thomas Sowell, I’m not a big fan of the Federal Reserve. It’s not just that I’m a libertarian who fantasizes about the denationalization of money. I also think the Fed hasn’t done a good job, even by its own metrics. There’s very little doubt,…
Minimum Wage Laws: Sabotaging the Ladder of Economic Opportunity
If I banged my head against the wall every time politicians advocated bad policy in Washington – which is a tempting impulse, I would have been institutionalized because of brain damage a long time ago. But it’s difficult to maintain my self control when I think…
DC Council to the Poor: Screw You!
The unemployment rate in Washington DC is 8.5%, a point higher than the national average. Compared to the rest of the nation, the District is poverty and crime-ridden. Given these facts, you’d think the DC Council would welcome the nation’s largest employer to the…
Belgium Must Be Hopeless if Politicians from Brussels Are Criticizing Germany for Being too Capitalistic
I’m not a big fan of the German government. Angela Merkel has a disturbing desire to impose fiscal and political union on the European continent. And even the supposedly free market Free Democratic Party seems perfectly comfortable with a gradual descent into statism….
Minimum Wage, Maximum Foolishness
Should the federal government make life more difficult for low-skilled workers? I hope everyone will emphatically say “NO!” Heck, most people understandably will think you’re crazy for even asking such a preposterous question. But some of those people will also think…
With Unemployment Already High, Why Are Leftists Pushing for an Increase in the Minimum Wage?
The unemployment rate has been stuck above 8 percent ever since Obama pushed through his ill-fated stimulus scheme to increase the burden of government spending. This high level of joblessness presumably reduces Obama’s chances of getting reelected, so you would think…
Funny…but Sad…Look at How the Minimum Wage Destroys Opportunity
My Cato colleague, Mark Calabria, recently explained how the minimum wage destroys jobs, and I’ve written on several occasions why government-mandated wages can create unemployment by making it unprofitable to hire people with low work skills and/or poor work…