State governments across the nation are looking for ways to tighten their belts in the face of declining tax revenues and growing budget shortfalls. In Pennsylvania, legislators have offered a measure that would, they claim, dramatically reduce the state’s construction costs on public works projects by bringing contractors’ wages in …
Economist Walter Williams knows that minimum wage laws are hurting poor, African-American teenagers and his new book, “Race and Economics: How Much Can Be Blamed on Discrimination?”, attempts to dispel the myth that higher minimum wage laws help. Simple economics recognizes that if the price of labor increases, employer demand …
Last week, George Mason University economics professor Daniel Klein wrote a Wall Street Journal op-ed summarizing an study he did for Econ Journal Watch: “Who is better informed about the policy choices facing the country—liberals, conservatives or libertarians? According to a Zogby International survey that I write about in the …
Liberals, and especially unions, frequently claim that raising the minimum wage helps workers and the economy. They contend that if people earn more money through a higher minimum wage, then they will be able to spend more as well, creating more jobs, and making everybody better off as a consequence. …
Today, another burden is being placed on America’s small businesses. Effective on this date is the third installment of the increase of the minimum wage that was passed in 2007. Once again, our federal government has provided not a help, but a hindrance to our economic recovery. When the three-phase …
According to the United States Department of Labor, the nation’s unemployment rate has already risen to 9.5%. The Obama administration is predicting that the nation’s unemployment rate will soon rise above 10% and the Federal Reserve predicts unemployment could stay above that 10% mark for sometime. One would think, therefore, …
