Be careful what you wish for. The financial world, and quite a few employees, were taken aback recently when Wal-Mart announced that it will be closing 269 of its 11,600 stores, including 154 in the U.S., although it still plans to open 300 stores worldwide in the coming year. Oakland officials “expressed shock” at Wal-Mart’s decision, according ... MORE
Showing posts with label minimum wage. Show all posts
Showing posts with label minimum wage. Show all posts
John Stossel: Economic Myths
Economic ignorance sells. Hillary Clinton: "Of course we want to raise the minimum wage!" Donald Trump: If we trade with China, "they suck us dry ... take everything. We get nothing!" Bernie Sanders: "Ordinary Americans are working longer hours for lower wages." But it's not true! Politicians are so ignorant about economics. On his blog, Cafe ... MORE
6 Big Cities See Hiring Fade After Minimum Wage Hikes
by Jed Graham. Higher costs mean lower demand. U.S. cities that implemented big minimum-wage hikes to $10 an hour or more in 2015 have seen a strikingly similar aftermath: Job gains have fallen to multiyear lows at restaurants, hotels and other leisure and hospitality venues. The data aren't, for the most part, stark and reliable enough to amount ... MORE
Walter E Williams: Minimum Wage Dishonesty
Higher prices mean less demand. Michael Hiltzik, a columnist and Los Angeles Times reporter, wrote an article titled "Does a minimum wage raise hurt workers? Economists say: We don't know." Uncertain was his conclusion from a poll conducted by the Initiative on Global Markets, at the University of Chicago's Booth School of Business, of 42 ... MORE
Labels:
demand,
economics,
incentives,
jobs,
low-skill workers,
minimum wage,
supply,
wages,
workers
Minimum Wage Hike Measures Ignore A Dismal Reality
by Steven Greenhut. Polls show a majority of Americans
favor raising the minimum wage. It's easy to understand the sentiment,
given how tough it is to get by working in a low-wage job. Indeed,
support for such efforts is so high in California that two unions are
proposing dueling minimum-wage-hike initiatives for the November 2016 ballot, with the ... MORE
John Farrier: This Robot Keeps Store Shelves Full
In response to a $15 minimum wage. One of the most common tasks for retail workers is to look at the
shelves, see which items are low, and restock those areas from storage. Now that task may be partially replaced with robots. Simbe Robotics
calls its invention Tally. This robot roams a store autonomously,
scanning shelves, finding out which ... MORE
Nick Gillespie: Why Intellectuals Hate Capitalism
Whole Foods CEO John Mackey explains. "Intellectuals have always disdained commerce," says Whole Foods Market co-founder John Mackey. They "have always sided with the aristocrats to maintain a society where the businesspeople were kept down." Having helped create the global grocery chain intellectuals arguably like best, ... MORE
Dr. Michael Hurd: Wage Theft
What a racket. Hillary Clinton promises to jail employers who engage in “wage theft.” Wage theft. What could possibly justify that? It sounds like
taking wages away from innocent, hard-working people, brazenly stealing
their hard earned property. Should people guilty of “wage theft” be
immediately jailed? Of course! I did a little research on the ... MORE
Walter E Williams: Liberal Reasoning - Idiotic or Dishonest?
A very convenience understanding at minimum. Many people argue that liberals, socialists and progressives do not understand basic economics. I am not totally convinced about that. Take the law of demand, for example, one of the fundamental principles of economics. It holds that the lower the cost of something the more people will ... MORE
Labels:
demand,
economics,
incentives,
liberalism,
minimum wage,
progressives,
reality,
socialism,
tax
Unintended Consequences Of Seattle's Minimum Wage Hike
by Alex Vargo. A cure much worse than the disease. Like any well-intentioned law, government-imposed minimum wage increase seem to help workers, at least on the surface. But is it really as easy as mandating that employers pay their employees more? In the restaurant industry, there are three possible consequences for young workers that ... MORE
Labels:
economics,
government,
low-skill workers,
mandates,
minimum wage,
price controls,
regulation
Steve Berman: ‘McJobless In Seattle’ As Order Screens Arrive: Labor Day Reality Check For $15 Minimum Wage
Minimum wage results in maximum unemployment. While it seems liberals may think that raising the minimum wage will raise living standards for poor Americans, they should have seen this coming. With Los Angeles joining Seattle in
setting a $15 minimum wage (Los Angeles by 2020, and Seattle by 2021),
it stands to reason that McDonald’s ... MORE
Labels:
economics,
government,
incentives,
jobless,
minimum wage,
politics,
price controls,
regulation
More Unemployment Ahead As Minimum-Wage Offensive Will Likely Speed Arrival Of Robot-Powered Restaurants
by Lydia DePillis. Crowded. That’s how Ed Rensi remembers what life was like working at McDonald’s in 1966. There were about double the number of people working in the store — 70 or 80, as opposed to the 30 or 40 there today — because preparing the food just took a lot more doing. “When I first started at McDonald’s making 85 cents an ... MORE
Labels:
automation,
business,
economics,
incentives,
labor,
minimum wage,
price controls,
regulation
How The Federal Government Betrayed Millennials
by Veronique deRugy. Candidates running for president should take the following warning seriously: Years of bad government policies catering to interest groups have created a generation of young people facing tremendous challenges in the labor market and little chance to experience the good old American dream. We can hope that someone ... MORE
Thomas Sowell: The Fact-Free Left: Part II
Intentions trump results, every time. There is no way to know what is going on in someone else's mind. But sometimes their behavior tells you more than their words. The political left's great claim to authenticity and honor is that what they advocate is for the benefit of the less fortunate. But how could we test that? T.S. Eliot once said, ... MORE
Labels:
government,
housing,
incentives,
liberalism,
minimum wage,
policy,
politicians,
rent control,
tax rates
Costs From Regulations Pile Up, Hurt Small Business Profits
by Joyce M. Rosenberg. Govt's war on capitalism. It's getting more expensive to be an employer and small business owners say that's making it harder for them to make money. The health care law, minimum wage
increases and paid sick leave laws in some states and cities are
increasing costs. Small companies also face the prospect of higher
overtime ... MORE
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