Tag: minimum wage
Should It Be Illegal for Low Productivity People to Work?

There’s a movement well underway to make it illegal for low-productivity workers to hold jobs. The idea is that people who are not productive enough to earn $15 an hour should not be allowed to work. Several states have already passed laws that will prohibit those who are not productive enough to earn $15...
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Walter E. Williams on Race in America: A Tribute by His Former Student

Walter E. Williams, outspoken Black libertarian economist, professor of economics at George Mason University (GMU) for 40 years, syndicated newspaper columnist, author of 13 books, and occasional guest host on Rush Limbaugh’s radio show, died December 2, 2020, after teaching a class at GMU. He was 84. The world will be less informed and...
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Venezuela Goes Digital–It Won’t Fix the Problem

Venezuelan President Nicolas Maduro recently announced that the country will be moving toward a “fully digital” economy. The South American nation has struggled in recent years with rampant shortages of staple goods, civil unrest, and hyperinflation. According to the opposition-controlled National Assembly, consumer prices rose more than 65 percent in November, placing the interannual...
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Thoughts on Housing Affordability and Homelessness in California

Improving housing affordability will significantly reduce homelessness, but it will not in itself solve the problem.

Google Scientist Takes On “Robogeddon”

The future of work has always been a hotly debated subject. The heat has been turned up recently with advances in robotics and artificial intelligence (AI). One view, expressed by Stowe Boyd, lead researcher at GigaOM Research, is that robots will yield a net reduction in jobs for humans, “The central question of 2025...
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I’m Not a Pessimist. I’m an Economist.

I’ve been lucky, in my time as a graduate student and now as a professor, to give talks on a variety of subjects to many different groups. From business owners, to my undergraduate students, to MBA students, to high school students and more, I never get tired of talking about what I love. Unfortunately...
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For the Love of Teaching and Economics

I love teaching economic principles. There is something truly exciting about introducing students to the economic way of thinking for the first time. It’s a privilege and honor I take very seriously. It seems to me, if more people understood basic economics, we could avoid a lot of patently backward policies. However, I also...
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Beware Survivorship Bias

Suppose you wanted to know how many of the soldiers, sailors, and airmen who served during World War II were killed in that war. So you sent inquiries to a random sample of persons whose names were drawn from a list of all those who served in the military during the war, asking: Were...
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The “Bern” Unit

According to the American Burn Association, approximately 486,000 burn injuries are treated every year. Chances are you’ve experienced a burn or two in your life. From touching a pan that was too hot, to forgetting to make sure the electricity was shut off before some DIY house work, to being particularly inept with a...
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Higher Minimum Wage Leaves Working Poor Without Childcare

Oakland’s voters who approved the March 1 increase of the minimum wage to $12.25 apparently drank the Kool-aid that it would “help the poor.” Tell that to the working poor parents who will now be scrambling to find good, affordable child care: Workers who benefit from Oakland’s minimum wage hike might soon lose a...
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