Channeling Hayek, Devine argues that markets are critical but not sufficient. Free and equal individualism requires a mythos and a logos, a moral order rooted in God, morality, law, or tradition—otherwise we devolve into warring factions
Wage hike advocates effectively seek to force entrepreneurs to raise the costs of production after many of them have barely survived what became a catastrophic 2020 due to the coronavirus pandemic.
Rising unemployment is just one outcome of minimum wage mandates. Capital accumulation and labor productivity will also be hurt.
Much of the harm is disguised by focusing on forecasts of higher aggregate income for the poor. Individuals, on the other hand, are another story.
Medical doctor Keith Smith returns to the show to explain how government intervention allows insurance companies to distort health care prices.
Rising unemployment is just one outcome of minimum wage mandates. Capital accumulation and labor productivity will also be hurt.
If leaders are serious about economic recovery after lockdowns, they need to dispense with authoritarian controls and let markets work. Daniel Lacalle considers interest rates, inequality, stakeholder theory, global debt, and much more in this powerful discussion of today's economic reality.
Much of the harm is disguised by focusing on forecasts of higher aggregate income for the poor. Individuals, on the other hand, are another story.
Eugenicist Progressives introduced the minimum wage, because it was well suited to perform the Progressives’ dirty work of discriminating against (what they considered) the least productive by making them unemployable.
Echoing Hoppe and public choice theory, Professor Philipp Bagus explains how politicians enjoy asymmetric rewards for exaggerating risks and creating fear. The result is gross policy errors we will all pay for over many decades. Don't miss this show!
