Category Archives: Economics

the case against education

Bryan Caplan makes the case against education. He has a forthcoming book on the subject.

Posted in Economics, videos | Leave a comment

coke and free market innovation

I am posting the full speech of Coke executive Harry E. Teasley. The entire speech is worth reading. He explains how the free market is the best way to “green” production. He uses aluminum cans as an example: Today the … Continue reading

Posted in Economics, prices | 1 Comment

repeal the davis-bacon act

In 1931, the Davis Bacon Act (DBA) was passed. According the FAR 22.403-1 “The Davis-Bacon Act (40 U.S.C. 3141 et seq.) provides that contracts in excess of $2,000 to which the United States or the District of Columbia is a … Continue reading

Posted in Contracting, Econ 101, Economics, Goverment, Labor, Price Controls, prices | 1 Comment

krugman loses all grasp of reality

From a recent post by Paul Krugman talking about Unemployment Insurance. As a background, Classical view states that if you pay someone to be unemployed, they will stay unemployed longer than otherwise. Here is Krugman: But if you follow right-wing … Continue reading

Posted in Econ 101, Economics, Labor, Leftists | Leave a comment

walmart and the 15 dollar wage

Peter Schiff is receiving his fair share of death threats these days. His crime: he explained why Walmart cannot pay $15 per hour wages. He explains: Walmart’s profit margins are extremely slim as it is (3%). Their customers want low … Continue reading

Posted in Econ 101, Economics, Labor, prices | Leave a comment

learning from a titan of industry

The other day I had the good fortune to sit next to a very interesting man on a flight to Chicago. It turned out that he was an independent consultant and premium priced contractor for various factories around the world. … Continue reading

Posted in Economics, Human Nature, Labor | Leave a comment

possible harms of the minimum wage

In a previous post, I quoted economist Don Bordeaux concerning possible ways employers deal with an increasing minimum wage. One commenter stated that minimum wage employers offer few fringe benefits so it is unlikely that they could decrease fringe benefits … Continue reading

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the unseen harms of the minimum wage

Don Boudreaux lists out some various possible effects of an increase in the minimum wage, all of which hurt low skilled workers: First, neither I nor any other economist insists “that the minimum wage must raise unemployment.” Raising unemployment is … Continue reading

Posted in Economics, Price Controls, prices | 3 Comments

the evilness of the new deal

Bart Wilson reminds his readers why the New Deal was utterly evil. From The Grapes of Wrath: The works of the roots of the vines, of the trees, must be destroyed to keep up the price, and this is the … Continue reading

Posted in Economics, Goverment, History, People, Price Controls, Sowell | Leave a comment

caplan on the industrial revolution

In a recent post, Economist Bryan Caplan takes on a flawed history textbook. He proposes an alternative text about the Industrial Revolution: Working conditions during the early Industrial Revolution were bad by modern standards, but a major improvement by the … Continue reading

Posted in Economics, History, Industrial Revolution | Leave a comment