By Jon Miltimore Anyone who’s seen the John Hughes movie Ferris Bueller’s Day Off probably remembers the scene where Ferris’s economics teacher (Ben Stein) explains the Smoot-Hawley Tariff Act to a roomful of bored, sleeping students. The scene is brilliant for many reasons, perhaps most so because it perfectly demonstrated how some of the most boring things in history are … [Read more...] about Panic Has Led to Government “Cures” That Are Worse than the Disease, History Shows
Jon Miltimore
9 of the 10 Richest People in the World Are Self-Made Entrepreneurs
By Jon Miltimore Every year Forbes publishes its list of the 400 wealthiest Americans. Topping the list in 2019 for the second year in a row was, to no one’s surprise, Jeff Bezos. The Amazon founder kept the top spot despite a divorce that sent his net worth tumbling from $160 billion to $114 billion. Worldwide, Americans represent a sizable portion of the wealthiest … [Read more...] about 9 of the 10 Richest People in the World Are Self-Made Entrepreneurs
How This Entrepreneur Went from Door Man to Running a $3 Billion Hotel Empire
By Jon Miltimore Alan Fuerstman is the embodiment of the American Dream. He’s the founder of Montage Hotels & Resorts, a California-based luxury hotel and resort company that has a portfolio of $3 billion. He was listed on the Haute 100, received the Ernst & Young Entrepreneur of the Year Award, serves on advisory boards, and gives back to his community through … [Read more...] about How This Entrepreneur Went from Door Man to Running a $3 Billion Hotel Empire
Support for $15 Minimum Wage Plummets When Americans Are Told Its Economic Impact
By Jon Miltimore Minimum wage laws, I’ve noted, are popular with the public. This no doubt explains why House Democrats passed a bill Thursday that would raise the federal minimum wage to $15 an hour. Yet the minimum wage’s apparent popularity might be political pyrite (fool’s gold). A newly published Business Insider survey found that support for the minimum wage … [Read more...] about Support for $15 Minimum Wage Plummets When Americans Are Told Its Economic Impact
Restaurant Chain Announces Bankruptcy, Says Minimum Wage Hikes a Key Factor
By Jon Militimore Restaurants Unlimited, a Seattle-based chain with restaurant locations in 47 US cities, announced on Sunday it was seeking Chapter 11 protection, citing “progressive” wage laws. The company, which has operated since the Lyndon Johnson Administration, said rising labor costs—part of a national trend of government-mandated minimum increases—were part of … [Read more...] about Restaurant Chain Announces Bankruptcy, Says Minimum Wage Hikes a Key Factor