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. ... MORE
Showing posts with label price controls. Show all posts
Showing posts with label price controls. Show all posts
Walter 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 ... MORERonald 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 ... MOREHow Markets Tell the Truth and Politics Tells Lies
by Gary M. Galles. Have you ever tried to work with people you couldn’t depend on to tell you the truth? It isn’t pretty. Without the ability to rely on what you’ve been told (or the assurance that you’ve been told everything relevant), effective cooperation at almost every margin of choice is reduced. That’s because the foundation on which ... MOREThe Bad Policy That Created The Great Chocolate Shortage
by Tim Worstall. The last few days have seen us regaled with a serious of stories about how the world is going to run out of chocolate. That would be, I think we can all agree, almost as bad as running out of bacon. So it’s worth thinking through the reasons as to why we might be running out. After all, cocoa, from which chocolate is made, is a plant, ... MORERegulating The Internet Hurts Entrepreneurial Freedom
by Ted Cruz. Never before has it been so easy to take an idea and turn it into a business. With a simple Internet connection, some ingenuity and a lot of hard work, anyone today can create a new service or app or start selling products nationwide. In the past, such a person would have to know the right people and be able to raise substantial start-up ... MORE
Why Not Raise The Minimum Wage To $100 An Hour?
by Carrie Sheffield. Fast food workers are hitting the streets
in cities across the country, walking out from their jobs, demanding
higher wages. Many of these protesters want $15 an hour. President Obama
and other Democrats decreed $10.10 is the correct minimum wage for now,
up from the current federal standard of $7.25. That would be a ... MOREThomas Sowell: Minimum Wage Madness
Revisiting well-intended idiocy. Political crusades for raising the minimum wage are back again.
Advocates of minimum wage laws often give themselves credit for being
more "compassionate" towards "the poor." But they seldom bother to check
what are the actual consequences of such laws. One of the simplest and most fundamental ... MOREJohn Stossel: The Milk Of Human Blindness
Milking buyers and sellers. The Denver Post warns, "Milk, food prices could rise if Congress fails to act." Congress is working on a farm bill, which, among other things, will set limits on how high or low milk prices can be in different regions of the country. Politicians from both parties like to meddle in agriculture. When the Heritage ... MORERonald Bailey: Freedom Is Good For You
Science provides the evidence. Economic freedom is, as Martha Stewart might say, a good thing. That’s not just my bias as a libertarian: I’ve got science on my side. In a new study published in Contemporary Economic Policy, two of the authors of the annual Economic Freedom of the World Index set out to see how other researchers were ... MOREExpect These 8 Steps From The Government's Playbook
by Simon Black. To anyone paying attention, reality is now painfully obvious. These bankrupt, insolvent governments have just about run out of fingers to plug the dikes. And history shows that, once this happens, governments fall back on a very limited playbook: 1. Direct confiscation - As Cyprus showed us, bankrupt governments are quite happy to ... MOREPeter Morici: Of The Fiscal Cliff And Into The Abyss
A fast track to chaos. Efforts to avert the fiscal cliff offer great drama, but won't solve Washington's budget woes and could precipitate another recession or worse. The Budget Act of 2011 requires the president and Congress to agree on a nine-year $1.2 trillion deficit reduction program, or annual defense and nonentitlement ... MORE
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