Category Archives: Price Controls

a first class economist on the minimum wage

An important post on the Minimum Wage debate. Don Bourdreaux posts some blog comments from an anonymous commenter. Excerpts: On possible unintended consequences: (1) Low-skilled workers can be replaced by slightly more-skilled workers once the wage difference between them has … Continue reading

Posted in Econ 101, Economics, Incentives Matter, Price Controls | Leave a comment

professional photographer 2 minutes of hate

April 15 is known as Tax Day in America. Within the professional photography community it is a day of rage. In 1984 terms, it is their Two Minutes of Hate. Up to a third of photography business profits might be … Continue reading

Posted in Econ 101, Economics, Goverment, Incentives Matter, Price Controls, prices, Standard of Living | Leave a comment

price fixing in phuket

Recently I had a chance to visit Phuket, a tourist Island in southern Thailand. Hotels during the off season were priced reasonably, $15 dollars a day for a queen bed and hot shower. But, food and clothing prices seem to … Continue reading

Posted in Economics, Price Controls, prices | Leave a 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

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

facts are stubborn things

The one great thing about Obamacare is that it is a beautiful illustration of economics in action. With most things in this world, it is very hard to discern cause and effect from just what is visible. I am reminded … Continue reading

Posted in Econ 101, Economics, Goverment, Price Controls, prices | 3 Comments