The Most Common Error in Economic Debates

The Most Common Error in Economic Debates

Have you ever been in an argument about whether we should raise taxes and then someone tosses out a real whopper? “The top tax rate for decades after World War II was over 90% and look how the economy boomed!” Or perhaps you read a Paul Krugman column where he said...
The Doctor-Laborer Inversion

The Doctor-Laborer Inversion

The battle over minimum wage is raging. Emotions are running hot. Some cities are setting the bar very high. For example, Seattle is mandating a $15/hour wage. Economically, the issue is very simple. Minimum wage laws do not raise anyone’s wage. This is because it’s...
Minimum Wage Madness

Minimum Wage Madness

Countries with minimum wage laws almost invariably have higher rates of unemployment than countries without minimum wage laws.

Rent Control Hypocrites

Rent Control Hypocrites

Those who benefit from government coercion seldom like it when the gun is turned around and pointed at them. They have no hesitation to demand that government use compulsion for their benefit, but complain when compulsion is directed at them. As an example,...
The Temperamental Minimum Wage

The Temperamental Minimum Wage

The first fundamental law of demand postulates that the lower the price of something, the more will be demanded, and the higher the price, the less will be demanded. To my knowledge, there are no known exceptions to the law of demand. That was until last fall when 650...

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