By Chloe Anagnos Remote work has quickly become an alternative to millennials making a living off the gig economy, thanks in part to the growth of websites like Fiverr and the big-data revolution. But as the practice became more popular and companies noticed they could actually benefit from it, many began to either send their employees home or to simply rely more on … [Read more...] about Remote Work: The Right Response to a Labor Market Made Complex by Government
Employment
The High Cost of Occupational Licensing
By Antony Sammeroff One of the most fundamental things about economics — which many people who are passionate about politics do not understand — is that the economy is not like a chess board where you can move one piece with deterministic and predictable consequences. On the contrary, an economy is an intricate fabric of interrelated institutions and actors all of whom act … [Read more...] about The High Cost of Occupational Licensing
What The 15-Hour Work Week Prophets Failed To Account For
By Saul Zimet There is a utopian vision shared by hard workers everywhere: One day we will look back on all our accomplishments and say “at last, the age of respite and luxury has finally arrived!” But as the forecasted luxury manifests all around us, the respite is nowhere in sight. John Maynard Keynes, one of history’s most influential economists, predicted in 1930 that … [Read more...] about What The 15-Hour Work Week Prophets Failed To Account For
4 Ways Employers Respond to Minimum Wage Laws (Besides Laying Off Workers)
By John Phelan Most of you will be familiar with a supply and demand graph. This shows a demand curve, which graphs the relationship between the price of something and the quantity demanded of that something, as well as a supply curve, which graphs the relationship between the price of something and the quantity supplied of that something. It is probably the most basic—and … [Read more...] about 4 Ways Employers Respond to Minimum Wage Laws (Besides Laying Off Workers)
Why Do You Have a Boss?
By Michael Munger Economists love markets. Markets tell us what to do, in efficient, decentralized ways, through the signals conveyed by prices. Prices tell you how much someone else values the thing you are considering using, even if you don’t know who that person is. But one economist, Ronald H. Coase, had an annoying question, way back in the 1930s. His question was … [Read more...] about Why Do You Have a Boss?
How Bringing Joy to Work Can Improve Your Life (and Save You From Burnout)
By Brooke Medina and Doug McCullough Professional success and entrepreneurship can be rewarding, but they have their limitations. Joy and ultimate meaning are too often viewed as byproducts of landing that dream job or reaching a certain income. But instead of expecting our work life to dictate our outlook, we need to flip the script. By choosing to begin each workday with a … [Read more...] about How Bringing Joy to Work Can Improve Your Life (and Save You From Burnout)
How to Find Remote Work Opportunities
By Chloe Anagnos Digital nomads use telecommunications technologies to earn a living. I’ve been working remotely since 2016 and have been a digital nomad since July 2018. I often work remotely from countries other than the United States, coffee shops, public libraries, and sometimes co-working spaces. It’s starting to become the newfound “millennial dream,” but without … [Read more...] about How to Find Remote Work Opportunities
5 Things You Need from Your Job to Advance Your Career
By David L. Veksler Your job won't always be your dream job. Sometimes you'll take on projects you don't like, work with people whose company you don't enjoy, or get paid less than you think you're worth. Sometimes, your focus will be on getting by until you find your next gig or get promoted. However, no matter what you do, there is almost always more to gain from your work … [Read more...] about 5 Things You Need from Your Job to Advance Your Career
What Does “Voluntary” Actually Mean?
By Michael Munger What limits should be placed on the ability of individuals to enter into negotiable agreements? It’s tempting to say, “none.” But there are some “agreements” — those reached under duress or in restraint of trade or other rights of third parties — that the state may decline to enforce, or outlaw completely. Presumably, if an exchange is truly voluntary, … [Read more...] about What Does “Voluntary” Actually Mean?
The Hidden Costs of a $15 Per Hour Minimum Wage
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
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