By Art Carden It seems everyone wants to raise the minimum wage. On May 20, 2019, PBS reported that pretty much everyone seeking the Democratic presidential nomination wants to raise the federal minimum wage to $15 per hour. President Trump advocated a higher minimum wage during his 2016 campaign. The private sector has gotten into it as well, with Walmart CEO Doug McMillon … [Read more...] about The Hidden Costs of a $15 Per Hour Minimum Wage
Employment
Outlawing Jobs: The Minimum Wage
By Murray M. Rothbard [This piece originally appeared in the December 1988 issue of The Free Market and is also included in the collection Making Economic Sense.] There is no clearer demonstration of the essential identity of the two political parties than their position on the minimum wage. The Democrats proposed to raise the legal minimum wage from $3.35 an hour, to … [Read more...] about Outlawing Jobs: The Minimum Wage
Universal Basic Income Is a Pandora’s Box
By Paul Boyce The case for a Universal Basic Income (UBI) is a strong one, in some ways. A UBI would stimulate aggregate demand, help those affected by technological change, and create a basic income for the poor. Its effectiveness and impact, however, depend on how much is given out. The benefits and consequences of a $100 UBI will be very different than one of $1,000. … [Read more...] about Universal Basic Income Is a Pandora’s Box
Occupational Licensing — An Unnecessary Evil
By Paul Boyce Occupational licensing comes under the guise of protecting the consumer from poor quality service. Professions that require licensing in the US include; nursing, law, dentistry, teaching, accounting, psychology, engineering, and architecture — among many others. This is to ensure that the service received is of a satisfactory standard. Occupational … [Read more...] about Occupational Licensing — An Unnecessary Evil
Minimum Wage Hikes Are Killing Jobs in California’s Poorest Communities, Study Says
By Tim Pearce California’s minimum wage increase has cost the state thousands of jobs worth of growth in the state’s booming restaurant industry, according to a recent study by the University of California Riverside. Delayed Effects California passed a bill in 2016 to bring the state’s minimum wage up to $15 an hour. For businesses with more than 25 employees, the state’s … [Read more...] about Minimum Wage Hikes Are Killing Jobs in California’s Poorest Communities, Study Says