Showing posts with label Economics. Show all posts
Showing posts with label Economics. Show all posts

Monday, April 4, 2016

California and New York Hop on the Minimum Wage Thrill Ride



So. Today, California and New York took the first steps to raising their intra-state minimum wage to $15.00 per hour over the next few years as the respective Governors signed the enabling legislation into effect.

The relevant politicians in those states flapped their jaws a bunch about "dignity" and "parity" and "economic justice."

I frankly don't think much consideration was given at all to actual "economics."

There goes that giant sucking sound again -- jobs vanishing from the good ol' US of A.

And $7.00 cheeseburgers at McDonald's. Self-service.


Sunday, July 17, 2011

Economics and Logic

This was just too good not to share:

Saturday, September 4, 2010

Friday, August 20, 2010

"Fear the Boom and the Bust!"

I ran across this video yesterday after doing a Googley search on Friedrich Hayek.  (I neither remember nor comprehend why I was searching Hayek, so don't ask.)  It is absolutely priceless! 

John Maynard Keynes goes on a spending bender and Friedrich Hayek grabs the spotlight to explain why the stimulus can't work.  All in rap!  I dare you not to move while you watch this!



From Econstories.tv

Monday, March 8, 2010

Socialism 101


I received this email today, and the simplicity of its application just screamed to be shared. And, I couldn't resist adding a photo of "Old Main" on the campus of my old Alma Mater, the University of Arkansas:

As the late Adrian Rogers said, "you cannot multiply wealth by dividing it."

An economics professor at a local college made a statement that he had never failed a single student before, but had once failed an entire class.

That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.

The professor then said, "OK, we will have an experiment in this class on Obama's plan". All grades would be averaged and everyone would receive the same grade so no one would fail and no one would receive an A.

After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy.

As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little. The second test average was a D! No one was happy.

When the 3rd test rolled around, the average was an F.

The scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

All failed, to their great surprise, and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great but when government takes all the reward away, no one will try or want to succeed.

Could not be any simpler than that. (Please pass this on)

And, remember, there is a mid-term election in 2010!