Showing posts with label minimum wage. Show all posts
Showing posts with label minimum wage. Show all posts
Ronald Bailey: Minimum Wage and Magical Thinking
No one can defy the law of demand. If all other factors remain equal, the higher the price of a good,
the fewer people will demand it. That's the law of demand, a fundamental
idea in economics. And yet there is no shortage of politicians,
pundits, policy wonks, and members of the public who insist that raising
the price of labor will not have the ... MOREWalter E Williams: Self-Enforcing Discrimination
How do-gooders handicap the poor. Black politicians, civil rights organizations and others who say they are concerned with the welfare of poor black people often support harmful measures. One of the most effective tools for disadvantaged people is to be able to charge a lower price for what they sell and pay a higher price for what they buy. ... MOREA Slow-Motion Accident Right Before Our Eyes
by Michael Hausam. Seattle's minimum wage chickens coming home to roost. The city of Seattle is providing the nation the economic-planning equivalent of a Funniest Home Video face-plant compilation movie. And it promises to be a doozy. Except for in this case, the face-plant is occurring to an entire city’s population and there’s no hope for a big cash ... MOREThomas Sowell: Ruinous 'Compassion'
Killing jobs with kindness. It is fascinating to see brilliant people belatedly discover the obvious — and to see an even larger number of brilliant people never discover the obvious. A recent story in a San Francisco newspaper says that some restaurants and grocery stores in Oakland's Chinatown have closed after the city's minimum ... MORESeattle Restaurants Closing Ahead Of $15 Minimum Wage
“It’s not a political problem; it’s a math problem.” Seattle’s $15 minimum wage law goes into effect on April 1, 2015. As
that date approaches, restaurants across the city are making the
financial decision to close shop. The Washington Policy Center writes
that “closings have occurred across the city, from Grub in the upscale
Queen ... MOREKilling Jobs & Closing Doors — A Minimum-Wage Warning
by Michael Saltsman. NY needs to take note of SF. Couples across the country spent Valentine’s Day watching the rom-com “You’ve Got Mail,” where Tom Hanks and Meg Ryan fight over customers as his bookstore behemoth threatens to gobble up her neighborhood Shop Around The Corner. That storyline resonated with viewers in 1998, and ... MOREBusinesses Find Ways To Cope With Minimum Wage Hikes
by Chris Kirkham. Low-skill workers, consumers pay the price. When the minimum wage in San Jose went from $8 to $10 an hour in 2013,
Adolfo Gomez started sending kitchen staff at his Mexican restaurant
home early. His mother and brother handled the extra work. In
Albuquerque, Myra Ghattas told cooks and hostesses to come in later when
the ... MORE
Ronald Bailey: The Minimum Wage And Magical Thinking
Defying the law of demand never works. If
all other factors remain equal, the higher the price of a good, the
less people will demand it. That's the law
of demand, a fundamental idea in economics. And yet there is no
shortage of politicians, pundits, policy wonks, and members of the
public who insist that raising the price of labor will not have ... MORECalifornia Legislature Is Back To Work & Full Of Bad Ideas
by Steven Greenhut. California residents should hold on to their wallets. On
Monday, the state legislature headed back to the Capitol for the
new session. Legislators' short stint at the Capitol in December
offered a preview of what's coming down the pike, and some of it
reinforces Judge Gideon Tucker's famous quip: "No man's life, ... MOREKeith Weiner: The Doctor-Laborer Inversion
Clear thinking on minimum wage. 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 not sustainable to overpay. Suppose you run ... MOREElection 2014: Victories And Defeats For Individual Rights
by Ari Armstrong. If the victorious Republicans follow through on their campaign promises—for example, many promised to work toward repealing or defunding ObamaCare—election day will have been a net win for advocates of individual rights, despite the passage of some rights-violating ballot measures. Consider some of the relevant ... MOREMinimum Wage Backfire: McDonald's Move To Automate
from the Wall Street Journal. If there’s a silver lining for
McDonald’s
in Tuesday’s dreadful earnings report, it is that perhaps union
activists will begin to understand that the fast-food chain cannot solve
the problems of the
Obama
economy. The world’s largest restaurant company reported a 30%
decline in quarterly profits on a 5% ... MORE
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